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 1,698,595,515 DOT in circulation at $1.0180 each, which is $1.73B. Holding that supply still and putting Stellar's $6.3B in its place gives $3.7085 per DOT.
A 3.64x 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.
$3.7085 per DOT. That is Stellar's current market capitalisation of $6.3B divided across the 1,698,595,515 DOT in circulation.
3.64x. Polkadot trades at $1.0180 today and Stellar's market cap is $6.3B against Polkadot's $1.73B.
No. It is one division: Stellar'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 $6.3B of market cap spread over more coins gives a lower price per coin. This uses the 1,698,595,515 DOT in circulation now.