Since 2017, flippening has referred to a situation in which the market capitalization of the Ethereum network is higher than that of Bitcoin. This situation describes a hypothetical moment in the future. The flippening does not refer to the value of a single Ether coin, but to the value of the coin times the amount in circulation (supply),
After the end of the bull market in 2017/2018, Ethereum established itself as number two in the crypto market, but never really came close to Bitcoin’s market value.