Flappening
The Flappening refers to the event where the market capitalization of Litecoin (LTC) surpassed that of Bitcoin Cash (BCH). This term highlights the competition between the two cryptocurrencies and is often discussed within the crypto community in terms of market values, and rankings
What is the Flappening?
The Flappening is a variant of the “Flippening,” a hypothetical scenario in which Ethereum (ETH) surpasses Bitcoin (BTC) in market capitalization. Flappening describes the moment when Litecoin overtook Bitcoin Cash as regards market capitalization.
The term was first used by Charlie Lee, the founder of Litecoin, in 2018. Lee, a former Coinbase executive, is credited with creating Litecoin as a faster and lighter alternative to Bitcoin.
When did the Flappening occur?
The Flappening gained significant attention in 2018 when Litecoin’s market capitalization briefly surpassed that of Bitcoin Cash on the 14th of December. The event was seen as a testament to Litecoin’s growing adoption and usage, particularly in the e-commerce and payments sectors.
The Flappening showed a significant implication for the cryptocurrency market as it highlights the growing diversity of the market, with newer altcoins like Litecoin and Ethereum challenging the dominance of older coins like Bitcoin and Bitcoin Cash.
While the Flappening is a notable milestone, it is important to remember that market capitalization is just one measure of a cryptocurrency’s success. Other factors, such as adoption rates, transaction volumes, and community support, also play an important role in determining a cryptocurrency’s long-term viability.
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Key Takeaway
The flappening represents a significant milestone in the cryptocurrency market, highlighting the growing diversity and innovation in the space. As the market continues to evolve, it will be interesting to see how different cryptocurrencies adapt and grow, and what new milestones will be reached in the future.
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