Arithmetic on today's supply, not a forecast. It assumes nothing about whether Bittensor could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Bittensor has 11,353,318 TAO in circulation at $236.6000 each, which is $2.69B. Holding that supply still and putting Avalanche's $3.27B in its place gives $288.3460 per TAO.
The two are close in size, so the answer is a 1.22x move. Bittensor and Avalanche are within a factor of two of each other by market capitalisation.
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 TAO at that level, which is the part that actually decides a price.
$288.3460 per TAO. That is Avalanche's current market capitalisation of $3.27B divided across the 11,353,318 TAO in circulation.
1.22x. Bittensor trades at $236.6000 today and Avalanche's market cap is $3.27B against Bittensor's $2.69B.
No. It is one division: Avalanche's market capitalisation spread over the supply of TAO that exists today. It assumes nothing about whether Bittensor 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 $3.27B of market cap spread over more coins gives a lower price per coin. This uses the 11,353,318 TAO in circulation now.