Will ETH Ever Flip BTC, And What Is The Flippening?
Feb 7, 2022
Recent pull backs in the crypto markets have reignited the debate as to whether ETH could flip BTC when it comes to market capitalization.
The crash that mostly happened on December 4, 2021, saw bitcoin lose 1/5th or 20% of its value, while ETH lost 10% – with both coins slowly recovering.
However, with the price of bitcoin at almost $51, 000 at the time of writing, and ETH at $4, 350, “the flippening” has become more conceivable to investors.
“The Flippening” refers to the possible future event when Ethereum overtakes Bitcoin to become the most valuable cryptocurrency in terms of market capitalization.
On February 24th, 2017, Bitcoin’s market capitalization represented 86.74% of the total market capitalization of all cryptocurrencies. Since then, even though its unit price has risen, bitcoin’s market share has fallen precipitously and now usually stands below 60%.
According to this website, which tracks the chances of the flip happening, at this point in time, bitcoin’s market cap stands at 51.4%, based on the latest market cap data:
- $516,941,692,566 – ETH
- $964,201,301,839 – BTC
However, as ETH continues making gains, the flippening will become even more conceivable, as this Twitter user attests.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of MultiBank io. No information in this article should be interpreted as investment advice. MultiBank io encourages all users to do their own research before investing in cryptocurrencies.