What is a coin flippening?
From Hodl to whales, the list of vocabularies used in the cryptocurrency world keeps growing. Another addition to the growing list is coin flippening.
What is coin flippening?
Flippening is derived from the word flip. In the crypto circles, flippening is colloquially used to mean one cryptocurrency overtaking the other in, among other things, market capitalization. Market cap is a measure of how a specific crypto is performing by multiplying its current market price with its circulating supply.
While initially used on Ethereum (ETH) and Bitcoin (BTC), its usage has expanded to include other cryptocurrencies. BTC leads in market cap; at some point in 2018, ETH supporters were waiting for a flip to happen and the market cap of ETH to overtake that of BTC.
Ethereum still tracking Bitcoin
Although Bitcoin is the market leader, its grip on the cryptocurrency market has been loosening over time, allowing the dominance of Ethereum to grow.
The metrics being used to anticipate the overturning of Bitcoin’s dominance by Ethereum include market capitalization, active addresses, transaction count, trading volume, node count, Google search interest, total transaction fees, and the transaction volume. Blockchain Center, a platform that tracks all these signals, projects that Ethereum has achieved 60.1 percent on its Bitcoin flippening journey.