The Blockchain Center, a new metric from German site, suggested that the flippening which will see Ethereum overtake Bitcoin is complete by 53 percent, which is more than half.
The Flippening Index currently stands at 53.3%. It is depicted that for the first time the index has risen over 50 percent in 18 months with the highest point in March 2019 being around 56.2%.
The latest version of the flippening has altered traditional ways as it originally referred to Ether’s market cap relative to Bitcoin, but given Ether is currently at just 14.9% of Bitcoin’s market cap, it still has quite the mountain to climb.
According to CoinTelegraph, The Flippening Index (which shares some features with the now-defunct Flippening Watch) is designed to be a more thorough comparison, weighting the average of eight other indicators to hopefully provide a better overall metric of the use of, and interest in, the two blockchain networks.
“The term Flippening refers to the possibility of Ethereum (ETH) overtaking Bitcoin (BTC) as the biggest cryptocurrency. Initially it described the hypothetical moment in the future when Ethereum overtakes Bitcoin by market cap. This tool takes that concept a step further and looks at the long term trend of eight different metrics, that show the status of both networks,” the site said.