Everyone always talks about the ETH/BTC (asset) Flippening . Why is no one talking about the Ethereum/Bitcoin (protocol) Flippening? I.e. the total amount of the assets being secured by the protocol.
For Bitcoin, the protocol basically just secures BTC. maybe there is an argument to be made that it secure STX?
On the other hand, Ethereum secures Ether, all of the ERC-20, ERC-721, and ERC-1155 tokens.
Currently BTC market cap is $1,058 Billion while Ether is "only" $530 Billion, leaving a difference of about $528 billion. A rough calculation of only the top ERC-20's by market cap comes to ~$420 billion(haha), all of the ERC-20s combined are probably in the range of $450-500 billion.
Then there are the ERC-721s (most NFTs) and ERC-1155s. Not sure if there is an easy way to find the market cap of these?
Why is no one tracking or talking about this? Thoughts?
TLDR: When people talk about the Flippening, they usually talk about ETH/BTC the asset, but maybe the more important thing to track is Ethereum/Bitcoin the protocol. The Ethereum/Bitcoin flippening is very close to, or may have already happened.
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments