In the context of cryptocurrencies, “The Flippening” generally refers to the point if and when ether (ETH) overtakes bitcoin (BTC) in terms of total market capitalization. You’ll find a great deal of discussion about this on podcasts and crypto Twitter. In this article, we examine a different flippening, one that has occurred over the past year, i.e., the flippening of interest rates earned on short-term US Treasuries versus decentralized finance (DeFi). Let’s start by examining what has happ...