422 sats \ 6 replies \ @mallardshead 19 Sep 2023 \ on: "Ethereum will flip Bitcoin" narrative. 😖🤡 bitcoin
There will be a flippening: Tether flipping Ethereum. And the #3 spot in the coincap ratings is not a place you want to ever be historically. This will happen in the next 24 months.
"Tether flipping Ethereum" - you sure?
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That's my expectation too. Stablecoin demand is real and is arguably the main usecase of altcoins at this point, but stablecoins are operable on platforms outside the Ethereum ecosystem (Tron, Solana, etc.)
24 months sounds about right to me, especially if Ethereum gets Gensler'd.
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Ooof
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It's already flipped everything else, grown 5x since 2020 and is averaging $25B in daily volume, which is about as much daily volume as every cryptocurrency in the world combined, including bitcoin. It has a higher market cap today than it did at the height of the bull market and is emerging as a significant buyer of short-term US debt (T-bills). I'm quite sure the flippening is coming.
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Double oooof
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😑
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