Flippening

What is Flippening?

The term flippening first surfaced on the internet in late 2017. Since Ethereum's blockchain network was created in 2015, it has been termed the Bitcoin Killer by many analysts. However, the monstrous growth in market capitalization of Bitcoin rendered all claims false, with it becoming the undisputed king of the cryptocurrency world.

In 2017, just before the start of the 2-year bear market, the crypto market witnessed a hockey-curve growth in overall market capitalization. Bitcoin swelled up to 42% of the entire market's capitalization. The astonishing thing is that Ethereum was right at the second spot with only 9% of market dominance in market capitalization. This led the analysts to believe that increased interest in Ethereum's technology will soon result in a flippening of market capitalizations.

The analysts had strong proof that one day, Ethereum's usecases would overpower the dominance of Bitcoin and surpass the King of Crypto in market capitalization, crowning Ethereum as the King of Crypto.

Bitcoin vs. Ethereum - Dominance

As of August 2022, the crypto market is standing at a short-term low market capitalization of 1 Trillion USD, falling from the mighty swelling of 3 Trillion USD, which was witnessed in late 2021. While Bitcoin's dominance is pretty much the same at an estimated 41.5%, ETH has climbed mountains to achieve the milestone of approaching almost a 20% market dominance value.