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 612,713 XAUT in circulation at $4,350.86 each, which is $2.67B. Holding that supply still and putting Solana's $59.72B in its place gives $97,473.75 per XAUT.
Tether Gold would have to take on $57.06B of new money to get there. A 22.4x move is large: it happens, and it usually needs the whole market to grow instead of one coin to take share from another.
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.
$97,473.75 per XAUT. That is Solana's current market capitalisation of $59.72B divided across the 612,713 XAUT in circulation.
22.4x. Tether Gold trades at $4,350.86 today and Solana's market cap is $59.72B against Tether Gold's $2.67B.
No. It is one division: Solana'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 $59.72B of market cap spread over more coins gives a lower price per coin. This uses the 612,713 XAUT in circulation now.