August 8, 2022

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‘Wen Flippening?’ Crypto Fans Wager on Ether Surpassing Bitcoin

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Bitcoin, the world’s biggest cryptocurrency, has always reigned supreme in the land of digital assets. But now, thanks to an eye-popping surge by Ether, fans of the No. 2 token by market value are reviving predictions that it is destined to one day take over the throne.

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(Bloomberg) — Bitcoin, the world’s biggest cryptocurrency, has always reigned supreme in the land of digital assets. But now, thanks to an eye-popping surge by Ether, fans of the No. 2 token by market value are reviving predictions that it is destined to one day take over the throne.

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In crypto parlance, it’s known as the “flippening” — and it’s still likely a ways off, if it happens. Ether’s market value of around $210 billion is less than half the size of Bitcoin’s even after Ether surged 50% over the past month. And yet, believers are energized with a fresh optimism as a milestone approaches that they say will increase the chances of it happening — perhaps sooner rather than later.

“I keep hearing people repeating the question, ‘wen flippening?’,” Quantum Economics Founder and Chief Executive Officer Mati Greenspan wrote in a note, using the crypto-slang employed by market faithful. “Even though there’s no guarantee this will ever happen, just looking at the numbers, it does seem like this event is getting closer by the day.”

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Boosters of Ethereum have touted the blockchain as a better version…

Bloomberg News

2022-07-31 11:02:15

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