What is Flippening and Its Effect on the Crypto Market?

The world of crypto is vast and the scope of similar is wide. Though everyone thinks that there is nothing new that can happen in this subject, many new additions have been added to it and many more are on their way. Every concept related to cryptocurrency gets updated regularly with every day passing by and new inventions in the digital zone are equally applicable to it. The present state of the market is evolving and this is the main reason behind the introduction of new concepts and technologies in the field. One of the concepts that are making rounds on the internet is known by the name Flippening and the term is getting famous with development in the market news. Websites like primebitprofit.com let users sign up, fund their accounts with cash, and then start buying and selling bitcoin.

Just like different terms that went viral after the introduction of the bitcoin market, this term is getting famous due to prevailing market conditions of the bitcoin market. The competition between ethereum and bitcoin has led to the introduction of this term and in this article, we are going to study this term and its effect on the digital market. So, let us start the journey of Flippening and get our concept clear!

Flippening – An introduction

This term was introduced in the market in the year 2017. This term relates to two cryptocurrencies that are Ethereum and Bitcoin. This is a market condition wherein Ethereum will jump above Bitcoin and thus will surpass the boundaries created by bitcoin making it the most favorable crypto asset in the whole world. At present, the crown is on the head of bitcoin and has the biggest market cap to date. Nowadays, the market conditions are completely unfavorable for bitcoin and as a result, this term is seen as the future and a reality. The flexible nature of Ethereum has added to the market and the concept is getting strengthened with every day passing by. 

Bitcoin and ethereum

Both are cryptocurrencies running on the digital platform and use the same decentralized type of technology. Introduced in 2009 by none other than Satoshi Nakamoto, bitcoin is quite popular among the masses, and on a similar pattern is Ethereum. Younger to bitcoin, Ethereum was launched in 2013 by Vitalik Buterin, and right from its inception, it has acted as a rival to the number one spot bitcoin. Both currencies are seen as the tough competitor and are quite giving tough times. As a result, people who feel less secure in the bitcoin market, usually try to invest their time in the ethereum market. The second highest market cap is occupied by Ethereum and number one is with bitcoin. 

Facts supporting Flippening

Everyone still thinks that flipping is not possible for now, but this is not true. In the year 2019, in November, flippening has already happened. The extent of flippening was less considerable at that time so was not taken much into consideration. This was the indication that Ethereum is getting strong and thronging for its way to the number one spot. Leading this, ethereum has managed to gather a lot of interest from many customers from all over the globe. In the same year, the number of transactions recorded for the ERC-20 token was much larger when compared to Ethereum, and thus flippening is quite a strong idea.

Some of the reasons that support flippening are the much wider application of Ethereum and the increase in the number of transactions of the same. Also, the diversification of prices and availability of platforms and investments and involvement in many assets has led the currency to get a successful flippening in the coming time.