Although he did not explain the exact reasons, a UK MP said he was more optimistic about Ethereum than Bitcoin. Member also “flippening”He also mentioned the skin.
UK Parliament member Tom Tugendhat urged the country to implement more innovations in the field of finance. Tugendhat also summed up the growth of the cryptocurrency industry, hinting that he is more optimistic about Ethereum than Bitcoin.
UK Member of Parliament Optimistic on Ethereum (ETH)
Tugendhat is a British Conservative politician who has served as Chairman of the Foreign Relations Committee since 2017. He has been a member of the UK Parliament since 2015.
In a recent speech, he urged the UK government to seek a more innovative approach to its financial strategies. He believes the world is going through a significant change that countries could lag behind if they did not adapt quickly.
Tugendhat sees that some of this change comes from the online space, more precisely, cryptocurrencies. Also, a member of the UK Parliament expressed his optimistic view on Ethereum, the world’s second largest cryptocurrency. Although he cannot summarize his reasons, “flippening”touched on.
The term “Flippening” became wildly popular in 2017 and 2018, and it refers to a hypothetical moment when Ethereum (ETH) is cited as the world’s largest cryptocurrency (Bitcoin BTC). According to CoinMarketCap, in mid-2017, Ethereum had the closest time to surpass Bitcoin because it was only 8% away from the moment of flippening.
Although ETH failed at that time and the gap increased significantly in the following years, some supporters believe the asset may be gearing up for another rally as BTC’s dominance has dropped drastically since the beginning of 2021.