The Flippening (Ethereum vs. Bitcoin)
The Flippening - Market Cap
The term "Flippening" refers to the hypothetical moment of Ethereum (ETH) overtaking Bitcoin (BTC) as the biggest cryptocurrency. At 100% they both have the same market capitalization. Even though market cap is the main metric to determine "The Flippening" (above), there are a number of other metrics that can be observed (below).
Active Addresses Flippening
Transaction Count Flippening
Transactions Volume Flippening
Trading Volume Flippening
Total Transaction Fees Flippening
Node Count Flippening
Google Search Interest Flippening
What do the metrics show?
Active Addresses
Active Addresses are the number of unique addresses that send or receive a transaction in a given week. Since ETH addresses tend to get used more than once while in Bitcoin it's good practice to use a different address for every transaction, the Bitcoin numbers are inflated and thus the metric disadvantages Ethereum. Source: Coinmetrics
Transaction Count
The Transaction Count shows the relation of total onchain transactions that happen on the network. (100% means Ethereum has flipped Bitcoin in that metric) Source: Coinmetrics
Transactions Volume
The total amount of USD that gets sent over the network. Note that it only compares ETH transfers with BTC transfers. With Token and Stablecoins transfers Ethereum is way above 100%. Source: Coinmetrics
Trading Volume
The adjusted exchange trading volume for BTC and ETH. Source: Coingecko
Total Transaction Fees
The total USD value of fees paid to make a transaction on the network. (100% means Ethereum has flipped Bitcoin in that metric) Source: Coinmetrics
Node Count
The number of public reachable nodes. Source: bitnodes.io / ethernodes.org
Google Search Interest
How often do people search for 'Bitcoin' vs. 'Ethereum' on Google. Source: Google Trends