Arithmetic on today's supply, not a forecast. It assumes nothing about whether Tether Gold could attract that much money.
A coin's market capitalisation is its price multiplied by the number of coins in circulation. Tether Gold has 613,013 XAUT in circulation at $4,347.61 each, which is $2.67B. Holding that supply still and putting NEAR Protocol's $3.02B in its place gives $4,924.74 per XAUT.
The two are close in size, so the answer is a 1.13x move. Tether Gold and NEAR Protocol 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 XAUT at that level, which is the part that actually decides a price.
$4,924.74 per XAUT. That is NEAR Protocol's current market capitalisation of $3.02B divided across the 613,013 XAUT in circulation.
1.13x. Tether Gold trades at $4,347.61 today and NEAR Protocol's market cap is $3.02B against Tether Gold's $2.67B.
No. It is one division: NEAR Protocol's market capitalisation spread over the supply of XAUT that exists today. It assumes nothing about whether Tether 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 $3.02B of market cap spread over more coins gives a lower price per coin. This uses the 613,013 XAUT in circulation now.