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 Hedera's $3.3B in its place gives $291.0697 per TAO.
The two are close in size, so the answer is a 1.23x move. Bittensor and Hedera 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.
$291.0697 per TAO. That is Hedera's current market capitalisation of $3.3B divided across the 11,353,318 TAO in circulation.
1.23x. Bittensor trades at $236.6000 today and Hedera's market cap is $3.3B against Bittensor's $2.69B.
No. It is one division: Hedera'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 $3.3B of market cap spread over more coins gives a lower price per coin. This uses the 11,353,318 TAO in circulation now.