The Flippening Dream: Ethereum vs. Bitcoin – What's Next?
The dream of $ETH surpassing $BTC market cap, a phenomenon known as "the Flippening," seems increasingly distant. Ethereum’s value relative to Bitcoin (ETH/BTC) has plummeted to its lowest point since April 2021, standing at 0.04563. This decline reflects a 45% drop since Ethereum’s significant transition to proof of stake in September 2022, known as "The Merge." Ethereum's mainnet activity has also slowed, with transaction fees at a multi-year low due to a shift to Layer 2 networks, indicating reduced activity on the main network.