Dash experienced a rise alongside Ethereum as Bitcoin’s dominance teeters dangerously close to “Flippening.”
The rest of the cryptocurrency markets rose against Bitcoin early this week, spearheaded by Ethereum, which rose from a $30 billion market cap on Sunday to $37 billion less than a day later, before settling closer to $33 billion at present. Bitcoin, meanwhile, took at dive on Monday from about $49 billion to around $43 billion at present. This has brought Bitcoin’s dominance percentage of the market down to 40%, compared to Ethereum’s 32%.
Dash’s steady rise into the billions
Dash, comfortably above the $1 billion market cap marker and around $145 and above per coin, experienced a growth surge on Sunday, rising from around $150 to just under $200, before settling in the mid-$160s at present. This represents a 33% growth over just one day, still remaining high after the correction. After some spectacular rises earlier this year, Dash seems to have found a comfortable level of stability, capitalizing on brief surges without net losses to comprise a steady upwards growth pattern.
“Flippening Watch” sees Ethereum’s victory over Bitcoin as inevitable
As Bitcoin’s growth slows and other coins continue to eat up larger portions of the market share, Ethereum stands as the single largest competitor at the moment, becoming a more and more significant player in the space. Ethereum currently ranks at about $34 billion compared to Bitcoin’s $43 billion, at 80% and steadily closing the gap. Flippening.Watch tracks the growth of Ethereum across several factors, including market cap (80.4%), transaction volume (104%), trading volume (101.8%), mining reward (213.9%), nodes(422.1%), and Google search trends (71%). With several of these Ethereum has already overtaken Bitcoin, though it is generally understood that once the market cap ranking flips, the Flippening will be complete.
While Ethereum continues to spar with Bitcoin over sheer size and worth, Dash goes after business adoption, with a series of initiatives aimed at Bitcoin’s former users. The continued switch to Dash for everyday digital cash purposes is a sort of “Business Flippening,” and is best emphasized by BitCart dropping Bitcoin support entirely.