A week ago, Ethereum’s market cap reached 50 percent of Bitcoin’s. On June 12, Ethereum price reached $396, moving closer to Bitcoin’s current market cap of $46 bln.
Is “flipenning” about to happen?The cryptocurrency industry, market and community are anticipating the “flipenning” or the possibility of Ethereum surpassing the market of Bitcoin. It is approximately $10 bln away from reaching the market of Bitcoin.
Before speculating on the possibility of Ethereum becoming the most dominant Blockchain network, it is important to consider whether its recent price rally can be justified. Has Ethereum demonstrated commercial success? Are actual users utilizing Ethereum to access decentralized applications? Or is it a completely speculative investment and not-so-smart money flowing into the market?
Objectively, Ethereum’s recent price rally has been mostly speculative. The vast majority of investors in South Korea, the largest Ethereum exchange market, do not have sufficient knowledge of the purpose, structure, technical intricacies and philosophy of the Ethereum network. Most investors can’t seem to differentiate Ethereum from Bitcoin when the two Blockchain networks fundamentally oppose each other in many ways.
https://cointelegraph.com/news/ethereum-price-closes-on-400-can-it-take-over-bitcoin-soon
