Just as time and event evolves, some things go extinct and some emerges. The history of cryptocurrency and the Blockchain technology witness changes too. Some of these changes have given birth to new slangs, sectors of operations (DeFi, Play-to-Earn, Metaverse), and lots more.
If you are just getting involved in crypto-currencies or an already existed crypto currency user, you must have seen some words being spelt in a funny way or some abbreviations used across the ecosystem. At first I thought they were being misspelt until I realized there were just acronyms (slangs) being used to represent either a price action , an event, a season or a personality involved in cryptocurrency.
In this article, I'll be listing and briefly explaining some crypto acronyms. I bet you wouldn't want to stop reading halfway. Scroll down let's explore 🙂.
Crypto Acronyms and their meanings
FOMO - Fear over missing out
This acronym is usually associated with a bullish trend where an individual discovers he/she isn't in possession of the trending asset (cryptocurrency). In most cases especially the newbie case, the individual swing trades to the trending asset.
FUD - Fear, Uncertainty and Doubt
When there's doubt and uncertainty either in a price action or in a leadership, such is tagged FUD. This in most cases is not usually a good sign especially when the community gets influenced by it.
Whale
In the cryptocurrency ecosystem, one is said to be a whale if he is in possession of a large percentage of the total supply of the particular cryptocurrency. For example; Elon Musk being a doge coin whale.
DYOR - Do Your Own Research
The crypto-sphere sometimes is filled with speculations and uncertainty, real projects and fake projects. In such situations it is advised that every persons involved makes research about whatever project he/she wants to invest in.
HODL - Hold
In a normal term, one might suggest that, that is a spelling error whereas in relation to the crypto-sphere, it isn't an error but an acronym that means holding tight to a crypto asset without selling.
De-Fi - Decentralized Finance
A blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, the most common being Ethereum.
ICO - Initial Coin Offering
This term is usually used when a cryptocurrency industry is offering a form of presale initial to the launch of the project itself. In most cases, this is a strategy to raise funds to back up the development of the project involved.
ATH - All Time High
This is a price action where the price hits the highest position it's ever been.
ATL - All Time Low
The lowest price a crypto asset has ever been.
BULLS
This are crypto investors that believes in HODLing and buying more. The bulls create a bullish trend in a crypto market.
BEARS
In an opposite scenery, the bears are those who sell off their crypto assets and probably spread FUD in a crypto market.
ALTs - Altcoins
These are Bitcoin alternatives, In order words, coins that are not Bitcoin is called an altcoin for example; Ethereum, Bitcoin Cash, eCash.
Rekt - Recked
“Rekt” spelt to represent Recked means to sell the crypto too soon or too late without bagging a profit. Most times this usually occurs due to spread of FUD.
To The Moon
This phrase is usually used when a bullish price action is expected from a current crypto price chart.
Shitcoin
This is a type of crypto currency that has no utility and usually cheap to afford. In most cases, it is considered as a bad investment due to its lack of utility and long term worth.
Shill
A marketing strategy in crypto usually employed by crypto communities to win more members to itself. In real sense this, most times does not bring in real investors to the community.
I'll hang out here, leaving with you those few slangs and acronyms to digest if you are a newbie. There are more to this but I'll leave the comment box for you to include which ever of them that is not listed here.
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