Arithmetic on today's supply, not a forecast. It assumes nothing about whether Rain could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Rain has 708,526,321,704 RAIN in circulation at $0.015769 each, which is $11.17B. Holding that supply still and putting Avalanche's $3.28B in its place gives $0.00462286 per RAIN.
Rain is already worth more than Avalanche. Moving to the smaller cap would take RAIN down to $0.00462286, which is 0.293x of what it trades at now.
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 RAIN at that level, which is the part that actually decides a price.
$0.00462286 per RAIN. That is Avalanche's current market capitalisation of $3.28B divided across the 708,526,321,704 RAIN in circulation.
0.293x. Rain trades at $0.015769 today and Avalanche's market cap is $3.28B against Rain's $11.17B.
No. It is one division: Avalanche's market capitalisation spread over the supply of RAIN that exists today. It assumes nothing about whether Rain 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 $3.28B of market cap spread over more coins gives a lower price per coin. This uses the 708,526,321,704 RAIN in circulation now.