Despite all cryptocurrencies losing value yesterday, LTC held its own with relative ease. Charlie Lee, the creator of Litecoin, feels this is a clear sign of the flippening taking place. Unlike the flippening, the calculadora ethereum would see Litecoin over Ethereum in market cap. It is merely a jest, although it is not unlikely such an event could take place eventually.
That does not mean Ether isn’t used for different purposes, but it may not necessarily warrant the price we see right now. Even despite the drop in price, Ether is still valued high for something most people will not necessarily use anytime soon. In recent weeks, the project https://cointelegraph.com/news/human-rights-foundation-cso-urges-time-readers-not-to-demonize-bitcoin has moved up the rankings all the way to seventh in terms of market cap. This flip has likely happened due to Bitcoin Cash’s freefall during the past month following the drama of the BCH fork, and the fact that at press time Litecoin happens to be up 12% on the day.
This reduction in fees could act as a boost to help adoption grow under the ‘medium of exchange’ use case, which has been a longstanding visionary statement for the open source cryptocurrency project. Charlie Lee is celebrating that Litecoin has overtaken Bitcoin Cash in terms of total market cap. In terms of BTC, Litecoin is now also recovering part of the losses experienced in recent years. However, it will be difficult for it to continue moving higher. Indeed, the LTC/BTC trading pair remains at 0.00445 BTC one of the lowest prices for LTC in years. However, unlike Flippening that only happened in April 2019, the Flappening had already taken place with LTC’s market cap exceeding that of BCH back in December 14th 2018. The term had since expanded to refer to the overtaking of other important altcoins. The term “Flappening” is actually a colloquial term that was coined back in 2018 by Charlie Lee. The term pertains to the moment when Litecoin exceeded the Bitcoin Cash with consideration to market capitalization. However, LTC was created in 2011, way before BCH – but the latter had the Bitcoin brand name backing it which got it priced higher while gaining a bigger market cap than Litecoin as well.
Shrikar is the co-founder of Blockmanity and a Blockchain evangelist. What is more intriguing is how Litecoin has successfully hit its one-month high. Considering how the overall bear market is still in full effect, one wouldn’t necessarily https://en.wikipedia.org/wiki/flappening expect a trend on this scale to materialize now or in the near future. Even so, the Litecoin gains are quite genuine as of right now, albeit one has to question if the trend can be sustained for more than a few hours on end.
Litecoin Flappening: Ltc Surpasses Bitcoin Cash (bch) After Surging 19%
To put this in perspective, there is some genuine excitement regarding this recent “flappening”. That is the term people tend to use when Litecoin overtakes another major cryptocurrency in market cap. Mitchell Moos is quite taken by this particular development, although there is a good chance the rankings will switch again over the course of today. These are interesting times for most cryptocurrencies despite Bitcoin’s lack of appeal. That in itself is pretty interesting, especially when considering how nearly all markets rely on Bitcoin first and foremost. In the case of the Litecoin price, things have gotten pretty interesting as of late. It is now back in the market cap top 5, after a lengthy struggle. That is still a long way to go, but things can change in favor of Litecoin at any given time There are fewer transactions on the Litecoin network compared to Ethereum, though. Then again, a lot of those ETH transfers have to do with cryptocurrency ICOs more than anything else.
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The Description Of Flappening
The Market share chart shows a couple of unsuccessful attempts by Ripple to grab the second spot before finally ‘flippening’ Ethereum over. There is one anomaly of about 90% market share at the beginning of the chart which is the time period when there were very few Alt. coins existing thus the lion’s share of the market share went to Bitcoin. The other two digital coins on the chart are Bitcoin Cash & Ripple – the former has recently undergone a hard fork thus the sharp drop in market share. Most people think when Litecoin was experiencing its first big price spikes, people in a chat group were getting feverishly excited. One of the random things said was “arise chicken” a line from a TV show called Aqua Teen Hunger Force.
- That is still a long way to go, but things can change in favor of Litecoin at any given time There are fewer transactions on the Litecoin network compared to Ethereum, though.
- According to flappening.watch,the flappening has completed for the number of active addresses, 24-hour trading volume, mining reward, and average block time.
- While the flappening in market cap has occurred, there are still other categories where the flappening has not yet happened.
- It is now back in the market cap top 5, after a lengthy struggle.
- The trading volume is clearly in favor of Litecoin, though, even though the gap is quite small right now.
- Then again, a lot of those ETH transfers have to do with cryptocurrency ICOs more than anything else.
It means LTC is close to surpass XRP in market cap, so the positions will flip. Faisal is based in Canada with a background in Finance/Economics & Computers. Faisal is also an active Stocks trader with a passion for everything Crypto. His enthusiasm & interest in learning new technologies has turned him into an avid Crypto/Blockchain & Fintech enthusiast. Currently working for a Mobile platform called Tradelike as the Senior Technical Analyst. His interest for writing has stayed with him all his life ever since started the first Internet magazine of Pakistan in 1998. He blogs regularly on Financial markets, trading strategies & Cryptocurrencies. The Crypto market has seen a lot of twists & turns in 2018 as the year winds down. We might as well see other instances of Flippening taking place as the market comes of age & we see more viable projects trickling through. For now, all eyes are at the continued price squeeze as traders lose hope of a bull run.
Flippening & Flappening In Cryptoverse What Are They About?
The Flappening has also seen a price hike for LTC by more than 10% in the past couple of days alone. It will be interesting to see whether Litecoin is able to hold on its edge in the long term. When I posted the chart in my previous article, the ETH/BTC ratio was over 60% back in February & Ethereum was positioned as the top contender among the Alt. The Crypto bulls saw in dismay with the tables turning on the broader digital assets’ market during the year.
Many people speculated that the two crypto’s market cap positions could flip. This “flippening” has not occurred, but the “https://cointelegraph.com/news/human-rights-foundation-cso-urges-time-readers-not-to-demonize-bitcoin” has. Litecoin surpassed Bitcoin Cash in terms of market capitalization. The now 6th largest cryptocurrency in the world surged by over 19% in the last hours.
The Flappening: Litecoin Overtakes Bitcoin Cash
Track top keywords for every app out there, as well as how an app’s search position is trending over time for the keywords that matter. This could be bullish for Litecoin in the coming weeks as well. The main question would be to understand whether Litecoin will be able to leave the bear market against Bitcoin. If that happens, very positive things could come to Litecoin holders and long term investors. Carlos is an international flappening relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published. For discussion about Litecoin, the leading cryptocurrency derived from Bitcoin. Litecoin is developed with a focus on speed, efficiency, and wider initial coin distribution through the use of scrypt-based mining.
Litecoin fans have taken their leader’s prediction very seriously. Someone even createdflappening.watch, a website which analyses various metrics by which LTC can overtake BCH. The website watches market capital, price, number of active addresses, number of daily transactions, daily trading value, daily mining reward, and average block time. As news spread, the LTC price began to spike, and at time of writing has seen a 24-hour increase of almost 12%. This has boosted its market cap from simply overtaking BCH, to being nearly 10% higher. Some of you may have heard about the Ethereum and Bitcoin “flippening”. The “flippening” became a term in the crypto community during the summer of 2017 when Ethereum’s market cap was nearing that of Bitcoin’s.
Read news and updates about FLAPPENING and all related bitcoin & cryptocurrency news. Over the past 24 hours, the Litecoin price has risen by 1.7% in USD value and 1.9% in BTC value. Both of these trends are pretty peculiar to be noted at this time. This is also the first time in a while Litecoin enters the market cap top 5 again, as it successfully overtook Bitcoin Cash. With a current value of $33.85 or nearly 0.01 BTC, the current momentum looks very interesting regardless of how one wants to look at things. The native token has no real use cases similar to Bitcoin or Litecoin.
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