Arithmetic on today's supply, not a forecast. It assumes nothing about whether Sui could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Sui has 4,085,083,602 SUI in circulation at $0.725 each, which is $2.96B. Holding that supply still and putting Aave's $1.96B in its place gives $0.48044086 per SUI.
Sui is already worth more than Aave. Moving to the smaller cap would take SUI down to $0.48044086, which is 0.663x 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 SUI at that level, which is the part that actually decides a price.
$0.48044086 per SUI. That is Aave's current market capitalisation of $1.96B divided across the 4,085,083,602 SUI in circulation.
0.663x. Sui trades at $0.725 today and Aave's market cap is $1.96B against Sui's $2.96B.
No. It is one division: Aave's market capitalisation spread over the supply of SUI that exists today. It assumes nothing about whether Sui 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 $1.96B of market cap spread over more coins gives a lower price per coin. This uses the 4,085,083,602 SUI in circulation now.