Understanding the Flippening
The Flippening is an eagerly awaited event among Ethereum enthusiasts, where the total market capitalization of Ether surpasses that of Bitcoin.
This term was coined in 2017 and is used to describe the potential moment when ETH becomes the largest cryptocurrency in the world.
Currently, Bitcoin holds the title for the largest market cap as it was the first cryptocurrency ever created.
However, there have been instances where Bitcoin’s market cap has experienced significant drops, especially in early 2018.
These fluctuations have led to speculation about the possibility of a flippening occurring.
One of the main reasons behind this speculation is the belief that Ethereum offers more flexibility and the added advantage of smart contract capabilities.
In fact, in November 2019, there was a partial internal flippening when the number of ERC-20 transactions surpassed the number of transactions conducted using Ethereum itself.