Otherwise known as; what you didn’t know about Ethereum…
If I showed you that Ethereum is more valuable as a network than Bitcoin is; would you go sell your BTC for ETH? Better question is would you believe me?
🕋 In the words of the Blockchain: 🕋
Don’t Trust. Verify.
This is written as a prime example that Not all Crypto Metrics are made equal… If you contest what is presented i anxiously await your point Prove Me Wrong.
Did you know: Bitcoin dominates a larger segment of the crypto market than Ethereum does? In fact, Bitcoin captures more market share than the entirety of the all other crypto assets… It has always seen Bitcoin Vs. the other guys.There has never been a time where any other network over took the lead of market dominance from Bitcoin.
Or so they say…
Top 10 Blockchain Courses – Data Driven Investor
During the 2017 crypto mania, Dominance within the crypto market sphere began to fluctuate wildly, more so than ever before. This happened due to the introduction of a new crypto “Floodgate”, known as an ERC-20. A Token protocol that allowed for a method of fundraising, that simplified the entire blockchain project space by streamlining the Creation and on-boarding aspects of digital economies. THOUSANDS of Projects launched. Each built on top of (and therefor from) ethereum, which in turn constitutes the project networks value to belong to the Etherum network.
This caused a lot of uproar among the crypto-communities.
People began to sing songs of Ethereum replacing Bitcoin in Market Dominance. Enter the Flippening. ← If you do not understand this please check out: FlippeningWatch
At its Dominance PEAK, Ethereum controlled 32.41% of the Market. At the same time Bitcoin Held around 40.11% (for those interested: Bitcoin’s lowest Dominance levels were recorded at 32.48%)
😅 missed it by that much 😅
The Crash happened and the flippening was forgotten…
but, in the midst of market hysteria a prophecy was fullfilled! The Flippening happened, sort of…
At the time of the 👩🚀MOONING approximately 80% of the entire crypto market was built on Ethereum:
- that means 80% of the projects listed on CoinMarketCap belonged to the Ethereum Network
- They raised funds mostly in the form of Ethereum (as well as some other ways)
Sticking to the market logic from that time we can conclude:
There you have it, now you know 🧐
It is supremely important to realize that weather or not some flippening happens, the markets will continue to function and prosper according to its role in society.
If Ethereum is more valuable to society then so be it… If it will be Bitcoin that is more Valuable then so be it..
At the end of the day we are all here together for the same reason:
Uprooting Legacy systems and giving them a run for their money → Open Finance. Open trade. Open trust.
♻ Good Bye Fiat ♻
🤓 Hello Crypto 🤓
The Flippening was not Televised! was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.