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 Sui's $2.94B in its place gives $0.08449085 per XLM.
Stellar is already worth more than Sui. Moving to the smaller cap would take XLM down to $0.08449085, which is 0.470x 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.
$0.08449085 per XLM. That is Sui's current market capitalisation of $2.94B divided across the 34,853,787,158 XLM in circulation.
0.470x. Stellar trades at $0.1796 today and Sui's market cap is $2.94B against Stellar's $6.26B.
No. It is one division: Sui'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 $2.94B of market cap spread over more coins gives a lower price per coin. This uses the 34,853,787,158 XLM in circulation now.