Ethereum won’t flip Bitcoin anytime soon, but Ordinals could change that

Bitcoin block space looks set to be the hottest commodity in crypto.

Bitcoin once again occupies more than half the entire crypto market, having outperformed ether by nearly double so far in 2023. Now, the long-prophesied “flippening” of ether over bitcoin is even further in the future.

The market currently values Bitcoin three times higher than Ethereum. Bitcoin’s market cap, at $727 billion, has swelled by $400 billion in 2023 — a figure bigger than Mastercard’s entire stock valuation and about twice that of Netflix’s.

Ethereum’s valuation has grown by $100 billion, jumping from under $145 billion in January to nearly $245 billion today. 

Some anticipate that…

Read more on Blockworks

23K Reads