The term “Flippening” is thrown around quite loosely as of late. Many people expect Bitcoin Cash to overtake Ethereum by market cap and remain in that position The earlier attempt got rejected and the BCH price crashed pretty hard as a result. To make matters worse, the BCH fees are higher than the Ethereum fees right now. An interesting development, to say the very least. Litecoin still remains a cheaper option than both.
Transaction fees are critical to any cryptocurrency ecosystem. If the costs are too high to send transactions, users will look for alternatives. Bitcoin Cash is clearly cheaper than Bitcoin right now. However, that doesn’t mean BCH is better than other currencies by definition. In fact, it is the more expensive altcoin when compared to Ethereum and Litecoin right now. This is another interesting “flippening” aspect, to say the very least.
Bitcoin Cash Transactions get More Expensive
With the BCH fees outweighing those of Ethereum, an interesting situation is created. One has to acknowledge ETH fees have been pretty high over the past few months in comparison. With more transactions on the Bitcoin Cash network right now, this unfavorable change was only a matter of time. Considering how the blocks aren’t even full yet, that is pretty worrisome. Things will only grow worse from here on out, that much is rather evident.
Although the difference between BCH and ETH in fees is small, it is significant. How this situation will evolve in the coming weeks, remains to be determined. According to Bitinfocharts, the average ETH fee is now $0.181. Bitcoin Cash, on the other hand, has a cost of $0.2. Both are a lot lower compared to Bitcoin, which is only to be expected. However, it shows Bitcoin Cash will face a fair few struggles to overtake Ethereum in market cap on a permanent basis. If this situation degrades further, BCH will face issues very similar to Bitcoin in the months to come.
Litecoin is still a cheaper option compared to these two. In fact, its transaction costs remained flat for some time now. Right now, the average LTC transaction cost is $0.086. This is with Segregated Witness active on the network, which is rejected by Bitcoin Cash supporters. An interesting tidbit of information, even though Litecoin is a very different ecosystem these days. It will be interesting to see which of these altcoins retains its market position over the next year or so. Right now, everything points toward a healthy future for Litecoin first and foremost.
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