Arithmetic on today's supply, not a forecast. It assumes nothing about whether Stellar could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Stellar has 34,853,787,158 XLM in circulation at $0.1796 each, which is $6.26B. Holding that supply still and putting Avalanche's $3.27B in its place gives $0.09392619 per XLM.
Stellar is already worth more than Avalanche. Moving to the smaller cap would take XLM down to $0.09392619, which is 0.523x 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 XLM at that level, which is the part that actually decides a price.
$0.09392619 per XLM. That is Avalanche's current market capitalisation of $3.27B divided across the 34,853,787,158 XLM in circulation.
0.523x. Stellar trades at $0.1796 today and Avalanche's market cap is $3.27B against Stellar's $6.26B.
No. It is one division: Avalanche's market capitalisation spread over the supply of XLM that exists today. It assumes nothing about whether Stellar 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 34,853,787,158 XLM in circulation now.