Preview Mode
Subscribe to our News & Services
FM ALL News
FM Crypto
Follow us on Twitter
Follow us on Linkedin
The Flippening
The “flippening” is a hypothetical event in the cryptocurrency world in which an altcoin becomes more valuable or popular, and consequently more widely-used than the Bitcoin (BTC) network.
The most widely recognized instance of this phenomenon was the trajectory of Ethereum (ETH) and the potential for its market capitalization to overtake that of Bitcoin.
To date, this event has never happened, though was widely speculated towards late 2017.
However, the term is still used to describe a hypothetical moment when Ethereum overtakes Bitcoin as the largest cryptocurrency by market capitalization.
The market capitalization of a cryptocurrency is abstractly defined by its respective circulating supply, multiplied by its current market price.
At the time of writing, Bitcoin is ranked number one in terms of market cap, followed by Ethereum.
Should the flippening ever transpire, be it by Ethereum or any existing or future altcoin, it would reflect a monumental accomplishment for any coin.
As the first and oldest cryptocurrency, the Bitcoin network has reigned supreme since its inception.
Will the Flippening Ever Happen?
In retrospect, the trajectory of Ethereum certainly was capable of performing this feat, overtaking the market cap of Bitcoin in 2018.
While BTC has always been the number one cryptocurrency by market capitalization, its market dominance has eroded significantly in recent years.
This decline was particular visible during the middle of 2017 and the first quarter of 2018.
During these periods, many Ethereum proponents were hoping for the flippening to happen.
Ethereum endorsers pointed towards the crypto’s greater flexibility and its ability to write smart contracts.
While these advantages do exist, they were not enough to ultimately hurdle Ethereum over Bitcoin, though this does not preclude a future occurrence.
Related Articles
Clone Scams are the Top Threat to Retail Traders: Survey
- A joint survey by Finance Magnates and FXStreet found that 38 percent of traders who lost funds fell victim to clone brokers or signal providers.
- Although Ponzi schemes and phishing attempts are rampant, clones of brokers and signal providers trap most traders.
You might be interested in
Related Terms
Robert Kiyosaki: Bitcoin Halving to Boost Price to $100,000 by September
- This forecast by the author of "Rich Dad Poor Dad" is influenced by global economic instability and debt issues.
- Besides Bitcoin, he advocates for investing in silver and gold to hedge against financial instability.
Robinhood Pulls Back Curtain on Android Crypto Wallet for Extending Access
- The wallet facilitates token swaps on Ethereum, Polygon, and Arbitrum through decentralized exchange aggregators.
- Users incur no service fees on token swaps, though standard blockchain transaction fees are applicable.
Crackdown on Binance: Nigeria Court Orders the Exchange to Disclose Customers’ Data
- The data would help the investigative agencies to unravel the alleged money laundering and terrorism financing on Binance.
- Nigeria detained two of Binance’s executives and reportedly demanded $10 billion.
US Senators Urge SEC to Halt Crypto ETP Approvals Due to Disclosure Concerns
- Senators Jack Reed and Laphonza Butler warned of the risks retail investors could face from crypto ETPs.
- The legislators cited a survey that reveals that 70% of brokers' communications with retail investors violated disclosure rules.
Bitcoin Rally Fuels 5th Consecutive Month of Growth in Feb 2024 Crypto Trading Volumes
- Trading numbers rose 5% on a monthly basis and 22% on a yearly basis.
- ByBit was the biggest gainer, jumping to the 2nd spot among the biggest exchanges by volume.
The Discord Revolution: How Your Kids' Gaming Chat Evolved into the Retail Traders' Hub
- The popular app has evolved into a vital retail trader platform, offering real-time signals.
- A recent earthquake in prop trading showcased Discord's criticality for conveying key updates like halts and migrations.
VanEck's Bitcoin ETF Temporarily Cuts Fees to Zero Due to Underperformance
- This move aims to attract more investors as the firm's assets lag behind that of competitors.
- This change is effective until March 31, 2025, or until the fund reaches $1.5 billion in assets whichever occurs first.
This Regulator Will Be Able to Block Your Cryptos from 96 Hours to 6 Months
- Poland will regulate crypto with the EU's MiCA laws, granting KNF new powers.
- The local market watchdog is set to obtain the ability to block crypto accounts.
KuCoin and Revolut Forge Alliance for Instant Euro-to-Crypto Transactions
- Users can directly acquire various cryptocurrencies listed on KuCoin through Revolut Pay.
- KuCoin has promised early users 0% transaction fees and a chance to share a bonus prize worth $5,000.