[ad_1]
Some of you may have heard of the "flippening" of Ethereum and Bitcoin. The "flippening" became a term in the crypto community during the summer of 2017, when the market capitalization of Ethereum approached that of Bitcoin. Many people have speculated that the positions of the two crypto caps could capsize. This "flippening" did not occur, but the "flapping" has.
The "flappening" is a parody of the "flippening" but between Litecoin and Bitcoin Cash instead of Ethereum and Bitcoin. Yesterday, Litecoin overcame the bitcoin cash market capitulation. Therefore, the "flappening" has finally occurred.
Charlie Lee, the founder of Litecoin, predicted this would happen in a tweet at the start of this year:
Flippening (ETH> BTC) will never happen. But the flapping (LTC> BCH) will take place this year. 🐔🚀 pic.twitter.com/vn9XBdZNC3
– Charlie Lee [LTC⚡] (@SatoshiLite) 25 February 2018
This is a victory for both Litecoin fans and Bitcoin Cash holders (like Charlie Lee).
While the deflagration occurred in the market capitalization, there are still other categories in which the distribution has not yet occurred. According to flappening.watch, the flapping was completed by the number of active addresses, 24-hour trading volume, mining premium and average block time. The flappening must still occur for the current price and the 24-hour transaction amount.
This reversal probably occurred because of the free fall of Bitcoin Cash during the last month after the drama of the BCH fork, and the fact that at the time of printing Litecoin increased by 12% in the day. Litecoin now holds the seventh highest market position in the encrypted market.
If you want to keep track of the state of flapening, check flapping.watch.
[ad_2]Source link
