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 1,692,279,772 DOT in circulation at $1.0120 each, which is $1.71B. Holding that supply still and putting PAX Gold's $1.89B in its place gives $1.1144 per DOT.
The two are close in size, so the answer is a 1.10x move. Polkadot and PAX Gold 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 DOT at that level, which is the part that actually decides a price.
$1.1144 per DOT. That is PAX Gold's current market capitalisation of $1.89B divided across the 1,692,279,772 DOT in circulation.
1.10x. Polkadot trades at $1.0120 today and PAX Gold's market cap is $1.89B against Polkadot's $1.71B.
No. It is one division: PAX Gold'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 $1.89B of market cap spread over more coins gives a lower price per coin. This uses the 1,692,279,772 DOT in circulation now.