Bitcoin
BTC$57 317.30

6.05%

Ethereum
ETH$4 329.98

7.71%

Binance Coin
BNB$609.13

5.53%

Tether
USDT$1.000821

-0.05%

Solana
SOL$201.89

8.26%

Cardano
ADA$1.59

7.07%

Bullish ETH/BTC pair revives the Ethereum "flippening" discussion


30 Apr 2021

#Ethereum

Bitcoin price is clinging on to $53,000 while Ethereum’s increasing bullish momentum prompted renewed discussions of an ETH flippening. Bitcoin and the overall cryptocurrency market saw minor losses on April 29 as the market heads into the expiry of $4.2 billion worth of (BTC) options contracts. Data from Cointelegraph Markets and TradingView shows that since reaching a high above $56,400 on April 28, the price of Bitcoin has dropped more than 6% back down near the $53,000 support level while Ethereum (ETH) continues to trade above $2,700.

Despite the lull in market activity, signs of mainstream cryptocurrency integration continue to emerge on a near-daily basis. Earlier today Coinbase announced that users can now purchase up to $25,000 worth of cryptocurrency per day using their PayPal account.

And it's not just financial institutions that are integrating blockchain technology to help achieve financial objectives. The government of Ethiopia revealed a partnership with Input Output Hong Kong (IOHK), the research and development arm behind Cardano (ADA). The goal of the new partnership is to us blockchain technology to overhaul its education system.

ETH/BTC starts to climb higher

While Bitcoin continues to struggle below the $55,000 resistance level, the ETH/BTC pairing has started climbing higher in a move that was predicted by multiple analysts, including Real Vision CEO Raoul Pal. The bullish movement in the ETH/BTC pair has also reignited conversations about Ether price evetually flipping BTC. According to Élie Le Rest, partner at digital asset management firm ExoAlpha, Ether has been getting stronger against Bitcoin since the end of March with the upcoming upgrade which includes EIP 1559 being “seen as a strong catalyst of the recent ETH bull-run.”

This increased momentum is a signal for Le Rest that the market may be in a “buy the rumor, sell the news configuration that may drive the price up until EIP 1559 is released in July this year.”

Le Rest said: "Overall, this Ethereum upgrade is getting closer to ETH 2.0, with features like shifting from a proof-of-work to a proof-of-stake chain including a burning fee mechanism. Those upcoming features are a great incentive for investors to tag along, contributing to ETH's strong recovery against BTC, but it’s still very early to put the flippening topic on the table again.”

A few altcoins make gains

The slumping price of Bitcoin weighed down the wider cryptocurrency market on Thursday with a majority of altcoins experiencing minor losses. Some notable exceptions to the pullback include Syscoin (SYS), which at one point spiked 45% to $0.50 and the Binance Smart Chain-based Venus lending platform, whose XVS token rallied 30% to $97.90, just a dollar short of its all-time high.

Waves (WAVES), a multi-purpose blockchain platform, also experienced a 20% surge that lifted the token to a new record high at $23.43. The overall cryptocurrency market cap now stands at $2.035 trillion and Bitcoin’s dominance rate is 48.8%.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 78.8% 42 $57 317.30 6.05% 0.30% $1 082 493 482 173 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82.4% 32 $4 329.98 7.71% 4.10% $513 241 890 424 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 74.4% 53 $609.13 5.53% 7.08% $101 603 589 194 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 94.8% 1 $1.000821 -0.05% 0.02% $73 181 280 297 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 69.2% 65 $201.89 8.26% -7.12% $61 384 548 102 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 67.2% 60 $1.59 7.07% -11.22% $52 994 241 732 ADA 7 days price change
7 XRP (XRP) XRP XRP predictions 74.4% 51 $0.977796 7.55% -5.78% $46 111 849 720 XRP 7 days price change
8 USD Coin (USDC) USDC USD Coin predictions 91.2% 2 $1.000263 -0.02% 0.06% $38 400 714 618 USDC 7 days price change
9 Polkadot (DOT) DOT Polkadot predictions 66% 75 $36.34 10.39% -9.36% $35 892 371 416 DOT 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 62.4% 74 $0.205075 3.31% -7.25% $27 132 327 967 DOGE 7 days price change
11 Avalanche (AVAX) AVAX Avalanche predictions 66.8% 75 $113.04 7.34% -14.94% $25 302 145 754 AVAX 7 days price change
12 SHIBA INU (SHIB) SHIB SHIBA INU predictions 62% 77 $0.000040 5.31% -9.51% $21 695 676 622 SHIB 7 days price change
13 Crypto.com Chain (CRO) CRO Crypto.com Chain predictions 56% 90 $0.763021 5.29% 12.83% $19 276 211 216 CRO 7 days price change
14 Terra (LUNA) LUNA Terra predictions 64.8% 72 $48.97 15.39% 19.64% $19 240 048 048 LUNA 7 days price change
15 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 74.4% 46 $56 434.66 5.79% -0.91% $14 304 839 863 WBTC 7 days price change

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