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- Since its inception in 2009, Bitcoin has been the most valuable crypto asset in terms of market capitalization
- The crypto sector has gone through several market cycles, each of which has seen it rise in size
- The possibility of a flippening is impossible to quantify, while Ethereum (ETH) has been mentioned as a possible competitor in recent years
Since its inception in 2009, Bitcoin has been the most valuable crypto asset in terms of market capitalization. Could any of the thousands of other cryptocurrencies that have appeared over the years ever surpass Bitcoin (BTC) in terms of market capitalization?
They are in the top half of the second inning of crypto, and for now it appears that BTC will continue at the top, but as for the Red Sox this year, we just don’t know, Daniel Strachman, managing partner of A&C Advisors LLC.
Strachman has decades of business experience and has written several books. He went on to say, It boils down to market reaction and investor interest.
There has been a lot of chatter about Eth exceeding BTC, and that is true, but we need to watch what happens in the next few innings.
The crypto sector has gone through several market cycles, each of which has seen it rise in size. CoinMarketCap, which ranks crypto assets by market capitalization, is a popular data source in the digital asset business.
The dollar value of crypto assets has skyrocketed. Almost all of the crypto assets in the top 100 on CoinMarketCap have a market capitalization of above $1 billion, indicating the crypto industry’s importance and growth.
Since Bitcoin’s start over a decade ago, technology has advanced dramatically. From time to time, there have been discussions and comments about a flippening industry jargon for a separate cryptocurrency exceeding BTC in market size.
What may cause another crypto asset to outperform Bitcoin in terms of market capitalization? Utility in the market, as well as investor acceptance and interest, will propel one or possibly two crypto assets to outperform BTC, Strachman added.
Bitcoin has become well-known among the general public. The cryptocurrency has a limited supply and a devoted following in the crypto community, particularly among Bitcoin maximalists, who believe that BTC is the only cryptocurrency that will succeed in the long run. When asked about the chance (or lack thereof) of a BTC flippening and the significance of such an occurrence, Strachman responded, The crypto market is an asset class that is here to stay. He added that it’s not going away, says the narrator. It will be down to market forces such as investor interest and market utility if a crypto asset surpasses BTC.
Exxon, GM, Mobil Ford, and Texaco were the top five firms by market cap in 1980; today, they are Apple, Microsoft, Google, Saudi Aramco, and Amazon things change, and that is fine because that is how free global markets work.
The possibility of a flippening is impossible to quantify, while Ethereum (ETH) has been mentioned as a possible competitor in recent years.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
