Forbes reports that the price of Bitcoin is working towards $50,000. Additionally, Forbes Cryptoasset and Blockchain Advisor are creating excitement, pointing to 1000% gains – These headlines are intentionally written to grab attention.

Flippening is the colloquial term used in the cryptocurrency market since 2017.  It refers to the possibility of the market capitalization of Ethereum (ETH) overtaking the market capitalization of Bitcoin (BTC).

It is well known that Bitcoin is ranked number one in terms of market cap.  Flippening is a market situation where Ethereum overtakes the market capitalization of Bitcoin (BTC).  Thus, referring to a situation in the market where Ethereum becomes the most significant crypto in terms of market capitalization.

The expectation is that the BTC dominance will come down one day, and eventually ETH taking its place. Since Ethereum Smart Contracts provided for improved usability than BTC, it was expected that the Flippening would occur at some point in time; however, to date, this has not happened.

With the coming of the London, major code upgrade on Ethereum Network, the ETH price saw some decent gains. The price boost facilitated by ETH caused the overall cryptocurrency market to go up from the recent lows.  They feel this price move will push ETC to dust while having ETH become the world’s leading cryptocurrency by market value.  While optimism is good, this sounds like too much of an exaggeration.

The expectation with London is to have the surging transaction fee become more manageable.  The complete upgrade will be over only when we are in to 2022. Ethereum Network continues to power Defi and NFTs, which is considered reason enough to have the ETH bull trend happen soon.

The upgrade is set to create scarcity of tokens by burning and limiting new tokens from entering the market.

Also, the expectation is that more people will choose to store their value in ETH as opposed to keeping it in BTC.  The ETH community is very hopeful that in the long run, through a multi-year timeline, ETH will flip BTC.  Now in the line are other ETH killers looking to dethrone ETH.  The competition is fascinating.  We need to see if ETH’s utility alone will win over others or if other tokens will be in queue bringing in new and improved utilities to overtake ETH. Regulators are already stepping in by naming consensus technologies in their bills.  Rapid changes are awaiting the market. Nothing is sure-fire.