What is the FLIPENNING? And how does it affect the Cryptocurrency markets?
As the cryptocurrency market is evolving day by day, we notice the creation of new lingo, terms that are coined to a certain event, token, or even a state of mind. FUD, HODLER, FOMO, and many other terms came to existence from the cryptocurrency community. You would never hear a trader or investor in Wallstreet saying to a Billion dollar investor to HODL.
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As the cryptocurrency market is evolving day by day, we notice the creation of new lingo, terms that are coined to a certain event, token, or even a state of mind. FUD, HODLER, FOMO, and many other terms came to existence from the cryptocurrency community. You would never hear a trader or investor in Wallstreet saying to a Billion dollar investor to HODL.
Today, we talk about the famous term called “Flipenning” that is recently brought back to the discussion tables in the cryptocurrency sphere.
What the hell does “Flipenning” mean?
Before we delve deeper into how this term came to be, we need to understand first the market dynamics of the cryptocurrency market.
The cryptocurrency market is made up of many cryptocurrencies, with the very first one being Bitcoin. After the latter, many coins started to appear with different usage purposes and different infrastructure. Many websites compile all cryptocurrencies and place them in a table, sorted by market capitalization.
Now you may be asking: What is Market Capitalization? Well, it is a number that shows how big a certain cryptocurrency is. It is calculated by taking the current price of a coin and multiplying it by the number of coins in circulation (just like stocks). This metric shows how big and important one coin is. When they talk about the whole cryptocurrency market capitalization, they talk about the number that sums the market capitalization of ALL cryptocurrencies.
We hear a lot about a dominance percentage in the news, and recently this dominance is dropping. BTC dominance shows the percentage of BTC Market Cap relative to the WHOLE Crypto Market Cap, to show the percentage of BTC cap to all other crypto Market Cap. So far, BTC dominance was always greater than 60%, a fact that explains why a move in BTC prices is affecting ALL other cryptocurrencies.
Enter the Flippening, a term that sounds like a movie title. Bitcoin has been always known to be the dominant cryptocurrency in the market, having the largest market capitalization, with Ethereum coming at number 2.
The term Flippening comes from the word flip, and was given in 2017 and refers to the possibility of the market capitalization of Ethereum (ETH) overtaking the market capitalization of Bitcoin (BTC). This of course suggests that Ethereum would be the more valuable coin technology-wise AND usage-wise.
Why would Ethereum be MORE important than Bitcoin?
Well, there are many technical and fundamental ideas behind this debate, and we’ll cite them below:
Who’s going to win?
It all depends on technical and market developments and depends on each individual investor. Today, BTC dominance is decreasing day after day, signaling that altcoins (including ETH) are making higher moves.
Recently, ETH prices have been on an extended uptrend, while BTC prices were seen in consolidation mode. Will the flippening really happen?
Stay Ahead, Stay Updated
Rudy Fares
Why Ethereum?
- Smart contracts
- More developments
- Technical aspect of how blocks are created
Why Bitcoin?
- Highest attention from large investors
- Simple and stable
- Limited supply
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