Arithmetic on today's supply, not a forecast. It assumes nothing about whether World Liberty Financial could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. World Liberty Financial has 31,894,024,479 WLFI in circulation at $0.057 each, which is $1.82B. Holding that supply still and putting Internet Computer's $1.51B in its place gives $0.04735448 per WLFI.
World Liberty Financial is already worth more than Internet Computer. Moving to the smaller cap would take WLFI down to $0.04735448, which is 0.831x 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 WLFI at that level, which is the part that actually decides a price.
$0.04735448 per WLFI. That is Internet Computer's current market capitalisation of $1.51B divided across the 31,894,024,479 WLFI in circulation.
0.831x. World Liberty Financial trades at $0.057 today and Internet Computer's market cap is $1.51B against World Liberty Financial's $1.82B.
No. It is one division: Internet Computer's market capitalisation spread over the supply of WLFI that exists today. It assumes nothing about whether World Liberty Financial 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 $1.51B of market cap spread over more coins gives a lower price per coin. This uses the 31,894,024,479 WLFI in circulation now.