Arithmetic on today's supply, not a forecast. It assumes nothing about whether Polkadot could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Polkadot has 1,722,164,673 DOT in circulation at $0.968 each, which is $1.67B. Holding that supply still and putting Chainlink's $8.53B in its place gives $4.9522 per DOT.
A 5.12x move is modest, and a coin this far down the table reaching the one above it is the ordinary shape of a cycle, not an outlier.
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 DOT at that level, which is the part that actually decides a price.
$4.9522 per DOT. That is Chainlink's current market capitalisation of $8.53B divided across the 1,722,164,673 DOT in circulation.
5.12x. Polkadot trades at $0.968 today and Chainlink's market cap is $8.53B against Polkadot's $1.67B.
No. It is one division: Chainlink's market capitalisation spread over the supply of DOT that exists today. It assumes nothing about whether Polkadot 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 $8.53B of market cap spread over more coins gives a lower price per coin. This uses the 1,722,164,673 DOT in circulation now.