The communities in these worlds communicate using terms and concepts that differ from traditional grammar, making it sometimes difficult for novice users to understand. Here is a glossary of the most commonly used terms along with their various meanings.
Mint: The sale of an NFT collection by the creator team at a set price for each piece before the secondary market opens, where each user is free to set their desired price.
Flip: Buying an asset (NFT, memecoins, etc.) at a lower price and selling it shortly after at a higher price.
Market Cap: Abbreviation for “market capitalization,” which is the product of a coin’s supply and its price.
Memecoins: Coins created within other blockchains without a project or utility behind them, intended solely to create a community and provide entertaining content.
Degen: Derived from the word “degenerate,” it is used to indicate a very risky investment attitude by a person.
BTD: This acronym stands for “buy the dip,” describing an investment approach that involves purchasing a cryptocurrency or an NFT when its price has fallen.
CT: These two letters refer to Crypto Twitter, which serves as a vast reservoir of information accessible to the crypto community. The latest cryptocurrency news is usually spread first on Twitter, making it a vital tool.
DApps: A DApp is an open-source software application built on a blockchain network, meaning anyone can contribute to its development.
DAO: Abbreviation for decentralized autonomous organization, DAO refers to a management structure that automates certain aspects of transaction processing and voting using blockchain technology. It can also apply to communities using voting and similar structures even if not directly on the blockchain.
DEX: Decentralized Exchanges are digital marketplaces built directly on decentralized protocols that do not require a central authority to hold funds or match orders.
FUD: Acronym for “Fear, Uncertainty, and Doubt.” This term specifically refers to negative feelings that can quickly spread in the crypto community. FUD can lead investors to sell all their holdings due to unjustified fear, causing a more rapid price decline.
Mooning: The term “mooning” indicates a scenario where the price of a cryptocurrency skyrockets to the moon (or alternatively, stellar price predictions occur). Essentially, it expresses the belief that prices will rise to monumental levels.
Pump and Dump: A pump-and-dump occurs when a specific group of investors inflates the price of a token by purchasing it in large quantities before releasing it on the market after prices have increased.
Shill: Derived from the English term, it means to share/promote a coin, NFT collection, etc.
WAGMI: Acronym for “we all gonna make it,” it is a frequently used motto when the market is in a prosperous situation where investors are enjoying profits.
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