Skip to content

Blockchain News Feed

All the latest news on Blockchain & Cryptocurrencies

Menu
  • Home
  • News
  • Exchanges
  • Market Analysis
  • YouTube
  • Brave Browser
Menu

Flippening? Bitcoin (BTC) Passed by 35mil Ethereum Unique Addresses

Posted on juni 2, 2018 by Blockchain News

Flippening? Bitcoin (BTC) Passed by 35mil Ethereum (ETH) Unique Addresses

Is the flippening upon us? Ethereum (ETH) advocates are citing block explorer Etherscan claim to passed 35 million unique addresses, a doubling in something like five months, averaging reportedly 100K a day. The last available figures for bitcoin core (BTC) addresses had them at roughly 25 million as of spring this year. ETH enthusiasts are insisting this is a positive step in the march to eventually snatch the number one coin by market capitalization spot.

Also read: India Rejects Venezuelan Crypto Despite 30% Discount

Flippening Close or Just Hopeful Hype?

Hopeful hype is starting again in pockets of the crypto ecosystem, especially among Vitalik Buterin fans and ETH followers. It’s due to their long held belief the world’s second most popular cryptocurrency by market capitalization must eventually replace bitcoin core (BTC) at the top in what’s been dubbed the flippening. Hype is arguably the best word at the moment, if only because of that pesky market capitalization: as of publication, BTC has nearly three times the market cap of ETH, and 24 trading volume seems to follow a similar ratio.

What is causing a restirring of such flippening just might be a relatively recent milestone. According to Etherscan, ETH has pulled out ahead of BTC in unique addresses, gaining something in the neighborhood of one hundred thousand per day. The number floating around is rather eye popping: 35 million uniques.

Flippening? Bitcoin (BTC) Passed by 35mil Ethereum (ETH) Unique Addresses

BTC stopped marking the number earlier this year for a variety of reasons, so ETH followers’ celebrations are based mostly on supposition, inference. The last figures available for BTC had unique addresses around 24 million. Still, the leap passed BTC also includes active addresses, perhaps a more profound metric when attempting to make the ETH flippening case: ETH has over 500K, BTC about 25K less.

BTC Might Have Only Itself to Blame

Addresses do not equate to actual users, however. One ETH user can hold many addresses, and in the case of ETH smart contracts are also being smuggled in the numbers. Yet, wallets for the respective cryptos can be telling when placed against the above stats. Ethereum wallet address are reused as a matter of course, while bitcoin core wallet address are frequently particular to each transaction. By every rational theory, BTC should far outstrip ETH in at least this category. As explained, that’s not the case.  

Caveats include how the 100K per day number is actually quite a fall off from as soon as the beginning of this year when ETH was clocking 300K per day at times. The Crypto Winter sapped much of those records, and truth is only on-chain activity is being measured (to the exclusion of exchanges, for example). In terms of raw transaction numbers, ETH is crushing BTC, 800K to 200K.

Flippening? Bitcoin (BTC) Passed by 35mil Ethereum (ETH) Unique Addresses

For BTC enthusiasts, however, who insist including the counting of ETH smart contracts to be gilding the lily, cooking the books or whatever, are probably on the weak side of that argument. After all, as bitcoin cash (BCH) is beginning to show, increasing block size would allow for such use cases to have taken place, something the bitcoin core community has stubbornly refused to concede. Add to it gaffs in transaction fees and times, mempool congestion, plaguing BTC at the height of its price and corresponding media coverage only compounded block size issues. Should the flippening happen, the BTC community would have itself to blame.

Do you think anything like the flippening is happening? Let us know in the comments. 


Images via the Pixabay, Etherscan.


Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH and other coins, on our market charts at Satoshi’s Pulse, another original and free service from Bitcoin.com.

The post Flippening? Bitcoin (BTC) Passed by 35mil Ethereum Unique Addresses appeared first on Bitcoin News.


Source: Bitcoin.com
Original Post: Flippening? Bitcoin (BTC) Passed by 35mil Ethereum Unique Addresses

Ledger Nano X - The secure hardware wallet

Recente berichten

  • Coinbase extends request for builders to expand ecosystem via Base Fund
  • Do Kwon to reportedly appeal against court’s decision to extend detention
  • Helium bottoms out in oversold territory- here’s what investors can expect next
  • Nasdaq Aims to Launch Crypto Custody Services in Second Quarter
  • Long-Term Holders Are Moving Away From One Ethereum DeFi Altcoin, Says Analytics Firm Santiment

Categorieën

  • Altcoin Buzz
  • Altcoin Buzz News
  • AMBcrypto
  • Bitcoin.com
  • Bitcoinist
  • BTC Manager
  • CCN
  • Coin Mastery
  • Coindesk
  • Coinpower News
  • Cointelegraph
  • CryproSlate
  • Crypto Daily
  • Crypto News (.net)
  • Cryptocoin News
  • Cryptocurrency News
  • CryptoDaily.co.uk
  • CryptoPotato
  • CryptosRUs
  • Daily HODL
  • DataDash
  • Ethereum Worldnews
  • Exchanges
  • ICO's
  • Invest in Blockchain
  • Market Analysis
  • News
  • News BTC
  • Newsbit
  • Portfolio
  • Pricecheck
  • Ready Set Crypto
  • The Modern Investor
  • ToshiTimes
  • Use The Bitcoin

Archieven

  • maart 2023
  • februari 2023
  • januari 2023
  • december 2022
  • november 2022
  • oktober 2022
  • september 2022
  • augustus 2022
  • juli 2022
  • juni 2022
  • mei 2022
  • april 2022
  • maart 2022
  • februari 2022
  • januari 2022
  • december 2021
  • november 2021
  • oktober 2021
  • september 2021
  • augustus 2021
  • juli 2021
  • juni 2021
  • mei 2021
  • april 2021
  • maart 2021
  • februari 2021
  • januari 2021
  • december 2020
  • november 2020
  • oktober 2020
  • september 2020
  • augustus 2020
  • juli 2020
  • juni 2020
  • mei 2020
  • april 2020
  • maart 2020
  • februari 2020
  • januari 2020
  • december 2019
  • november 2019
  • oktober 2019
  • september 2019
  • augustus 2019
  • juli 2019
  • juni 2019
  • mei 2019
  • april 2019
  • maart 2019
  • februari 2019
  • januari 2019
  • december 2018
  • november 2018
  • oktober 2018
  • september 2018
  • augustus 2018
  • juli 2018
  • juni 2018
  • mei 2018
  • april 2018
  • maart 2018
  • februari 2018
  • januari 2018
  • december 2017
  • november 2017
  • oktober 2017
  • september 2017
  • maart 2017
  • juni 2016
  • juli 2014
  • september 2013
  • augustus 2013
©2023 Blockchain News Feed | Design: Newspaperly WordPress Theme