Arithmetic on today's supply, not a forecast. It assumes nothing about whether PAX Gold could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. PAX Gold has 432,878 PAXG in circulation at $4,355.89 each, which is $1.89B. Holding that supply still and putting Avalanche's $3.27B in its place gives $7,562.60 per PAXG.
The two are close in size, so the answer is a 1.74x move. PAX Gold and Avalanche 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 PAXG at that level, which is the part that actually decides a price.
$7,562.60 per PAXG. That is Avalanche's current market capitalisation of $3.27B divided across the 432,878 PAXG in circulation.
1.74x. PAX Gold trades at $4,355.89 today and Avalanche's market cap is $3.27B against PAX Gold's $1.89B.
No. It is one division: Avalanche's market capitalisation spread over the supply of PAXG that exists today. It assumes nothing about whether PAX Gold 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 432,878 PAXG in circulation now.