Not Ethereum flippening Bitcoin. That will never happen. Tezos flippening Ethereum.
The chart below is a daily showing the ETH/BTC ratio, a much ballyhooed reference point for Eth cheerleaders historically.
On or about the 10th of May, the ETH/BTC ratio started to plummet aggressively and has picked up steam since. Ether is almost in free fall. Why? Perhaps the "merge" isn't going nearly as smoothly as the Vitalik Worshipers would have you believe. Could also be related to even more issues with Ether copycat cult chains sucking value from Ethereum.
The data shown below from Cryptoslam for the NFT sales by blockchain over the last 30 days could certainly have a lot to do with it as well.
Sales of NFTs on Ethereum and Solana are falling like a rock while sales on Tezos are up over 48% over the last 30 days. Objkt.com is a Tezos NFT marketplace and Objkt is seeing strong growth and even got a nod from NFT superfan Snoop Dogg.
Perhaps the remainder of 2022 will put even more pressure on investors and ecosystem participants to ask themselves if Ethereum is truly the future (and/or the copycat cult chains), or if perhaps the market needs to do and complete a lot more work in determining what Layer 1 protocols outside of Bitcoin, if any, will survive and why.
Watch out for the charlatans out there . . . . .
