During 2018’s beginning months, as Ethereum (ETH) surged above $1,000 in a startling spin of events, many began to design for the platform-centric cryptocurrency to pass Bitcoin (BTC) — crypto’s undoubted personality — in terms of marketplace capitalization. Charlie Lee, creator of Litecoin, a former Coinbase employee, and ostensible ETH skeptic, took to his Twitter feed to urge BTC, observant that the aforementioned “will never happen.”
At the same time, Lee combined that the cryptocurrency of his possess creation, Litecoin (LTC), could pass Bitcoin Cash (BCH), as many trust that the former accomplishes what the latter has sought to do — a cryptocurrency that closely resembles the “OG” Bitcoin, but with somewhat altered characteristics to be personal as “true digital cash.”
The flippening (ETHBTC) will never happen. But the flappening (LTCBCH) will occur this year. 🐔🚀 pic.twitter.com/vn9XBdZNC3
— Charlie Lee [LTC⚡] (@SatoshiLite) February 25, 2018
In response to Lee’s tweet, the fervent Litecoin village quicked to the attention insider’s side, rising LTC v.s. BCH information aggregator Flappening.watch, whose name is an transparent curtsy to the “flippening” (ETHBTC) and Lee’s mascot — a duck clad in armor. For most of the year, the gratefulness of all BCH stayed distant forward of LTC’s capitalization, relocating comparatively aloft on the back of Bitmain’s stamp of capitulation and other catalysts.
Yet, with the new marketplace downturn, joined with the hard flare of the Bitcoin Cash chain, Charlie Lee’s brainchild has begun to benefit on the favorite cryptocurrency of Bitcoin.com CEO Roger Ver, Bitmain, and Jihan Wu.
Litecoin (LTC) Overtakes Bitcoin Cash (BCH) On Crypto Leaderboard
On Friday afternoon, in the midst of a serve BTC sell-off to $3,150, BCH began to yield hard, descending next pivotal support levels and underperforming the marketplace at large. At the same time, LTC began to bear a slight recovery, bouncing off the year-to-date lows at ~$22.5, posting the only certain opening in crypto’s tip 20.
And as that happened, to the discomfit of Bitcoin Cash’s doctrinaire proponents, who have clung onto the item for dear life since Nov 14th’s quarrelsome network upgrade, Lee, who is a hermit to BTCC co-founder Bobby Lee, took to Twitter to give an update.
Through the use of 3 emojis, the correspondence of a chicken, a drifting dollar bill, and a rocket ship, joined with a GIF, Lee accentuated the fact that his prophecy had come true, tagging the Flappening Twitter in pristine ecstasy.
Per information from Flappening.watch, the marketplace capitalization of LTC is $5 billion aloft than the opposition in BCH. Not only has coblee’s origination suspended the most distinguished Bitcoin flare in terms of standing, but Litecoin also touts 384% more active addresses, 340% aloft daily transactions, and 288% more in trade volume.
Data collected from CoinMarketCap also indicates that this impending attention eventuality has occurred, with the cost tracker creation it more than transparent that Litecoin has upheld Bitcoin Cash on crypto’s long-standing leaderboards — filled to the margin with every code of cryptocurrency.
It stays to be seen either LTC will stay on tip of the altcoin brethren, but deliberation the arena that BCH is taking, some trust that Litecoin’s relations swell will be a permanent play.
Title Image Courtesy of Taras Chernus on Unsplash