Ethereum won’t flip Bitcoin anytime soon, but Ordinals could change that
Bitcoin once again occupies more than half the entire crypto market, having outperformed ether by nearly double so far in 2023....
- Bitcoin currently occupies more than half of the entire crypto market and has outperformed Ethereum by nearly double in 2023.
- Bitcoin's market cap is three times higher than Ethereum's, with a market cap of $727 billion.
- Ethereum's valuation has grown by $100 billion, jumping from under $145 billion in January to nearly $245 billion.
- Some anticipate that Ethereum's market cap will eventually surpass Bitcoin's.
- The case for the "flippening" has been challenged by the fact that Bitcoin now generates more fees than Ethereum.
- Layer-2 Ethereum networks, such as Arbitrum and Optimism, have not bridged the fee gap.
The article discusses the current state of Ethereum and Bitcoin in terms of market cap, performance, and fees. While Ethereum has seen significant growth, Bitcoin still dominates the market. The sentiment is neutral.