The Flippening
Can Ethereum overtake Bitcoin by market capitalisation? Track the live ratio, historical peak, and what ETH price would seal it.
price ratio
Flippening Progress
ETH market cap as % of BTC market cap
ETH Market Cap
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BTC Market Cap
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Market Cap Gap
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BTC leads ETH by this amount
Price
24h Change
24h Volume
Approx. Supply
Context
What is the Flippening?
The Flippening refers to the hypothetical moment when Ethereum's market capitalisation surpasses Bitcoin's. It would mark a fundamental shift in the crypto market's perceived store of value.
Why market cap, not price?
ETH and BTC have very different supplies (~120M vs ~19.7M). A 1:1 price comparison is meaningless — market cap (price × supply) is the fair measure of relative network value.
Historical context
The closest ETH ever came was during the 2021 bull run, when the ETH/BTC market-cap ratio reached roughly 70–75%. ETH has historically tracked below that peak since.
What would it take?
At current supplies, ETH's price must reach approximately 16.4% of BTC's price in dollar terms to flip. E.g. if BTC is $100K, ETH would need to be ~$16,400.
Market caps are estimated using fixed supply approximations (ETH ~120.4M, BTC ~19.7M). Not financial advice.