Arithmetic on today's supply, not a forecast. It assumes nothing about whether Ondo could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Ondo has 4,871,075,094 ONDO in circulation at $0.4058 each, which is $1.98B. Holding that supply still and putting TRON's $31.37B in its place gives $6.4396 per ONDO.
Ondo would have to take on $29.39B of new money to get there. A 15.9x move is large: it happens, and it usually needs the whole market to grow instead of one coin to take share from another.
Supply is held still, and in practice it moves: coins are minted, burned and unlocked, and every one of those changes the price a given market capitalisation implies. The figure also says nothing about whether the money exists to buy ONDO at that level, which is the part that actually decides a price.
$6.4396 per ONDO. That is TRON's current market capitalisation of $31.37B divided across the 4,871,075,094 ONDO in circulation.
15.9x. Ondo trades at $0.4058 today and TRON's market cap is $31.37B against Ondo's $1.98B.
No. It is one division: TRON's market capitalisation spread over the supply of ONDO that exists today. It assumes nothing about whether Ondo could attract that much money, and it holds the supply still when in practice supply changes.
It sets it. Market cap is price times circulating supply, so the same $31.37B of market cap spread over more coins gives a lower price per coin. This uses the 4,871,075,094 ONDO in circulation now.