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Bitcoin and Ethereum - how important is “The flippening”?



Coinbase has now published the report for the third quarter of this year. There we mainly took a look at the trading volume of the two largest cryptocurrencies. And as in the previous quarter, Ethereum managed to overtake Bitcoin in terms of trading volume this time too.


In the third quarter of 2021 , Ethereum accounted for 22% of the total trading volume on the platform , while Bitcoin accounted for only 19%.


Now we shouldn't conclude from Coinbase about the entire crypto market and look at the crypto elephant race from other perspectives.


Ethereum is the basis of the new financial world, isn't it?

So far, some figures suggest that Ethereum is the basis of the new, decentralized financial world. However, behind Ethereum we already see alternative crypto projects emerging that want to compete with Ethereum for this rank. Because not only the Ethereum network scores with flexibility thanks to the smart contract integration, but also Solana, Polkadot, Cardano and more!


But if we zoom in a little out of the details, we see that the area of ​​decentralized finance is an incredibly young area of ​​the economy. So it is not yet clear which potential will develop particularly well in which project - i.e. who will make the DeFi race in the long term.


How important is flippening really?

So far we have mainly seen that Ethereum follows Bitcoin in its development , similar to how many altcoins do in the altcoin season. Triggered by the bullish market sentiment, Ethereum was also able to "enrich" itself with Bitcoin price increases.


CoinFlip Founder and Chief Advisor Daniel Polotsky explains :


"The price of Ethereum largely follows Bitcoin's halving cycles , although that relationship could decouple over time as Ethereum continues to develop use cases that Bitcoin cannot achieve. Then its price could rise faster than Bitcoin's . "



According to Polotsky, the Ethereum rate is expected to rise to $ 64,000 by 2030. But if we look at the stock-to-flow model from Trader PlanB, we see a possible Bitcoin price of over a million US dollars in 2030. Sure - that is a long way off.


As a rule, there are some metrics that play a special role in "flipping". Including active wallet address, transaction volume (see Coinbase), number of transactions, trading volume, transaction fees and Google search traffic. The question now is which metrics are really crucial for the success of the two crypto currencies - after all, the two digital currencies serve very different areas of application and tasks.


What we are currently seeing are two very different crypto-universes, the success and importance of which do not necessarily depend on each other.



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