The crypto world is an advanced one that requires constant learning and evolution to stay updated with every tiny bit of information. Apart from knowing how to trade and invest profitably, a trader or investor must be aware of other aspects of the crypto space. Key is the collection of crypto-related slangs. Like every other field or profession, crypto has unique jargon and slang like every other field or discipline.
Understanding these slangs makes it easy for a cryptocurrency trader or investor to interact with others in the market seamlessly.
This article describes the 10 crypto slangs you need to know to stay on top of your game in the cryptocurrency space.
FOMO is probably the most popular slang among crypto traders. There is hardly a millennial, whether a crypto trader or not, who hasn’t heard of FOMO before.
It simply stands for “Fear Of Missing Out”. This is when a person buys a crypto asset that is already on the rise out of fear of missing out on its profits. It usually occurs when an investor fails to position in the market early enough but still decides to get in after the cryptocurrency rises in price.
HODL is a crypto slang that became popular after a user mistakenly tweeted that he was “HODLing” his Bitcoin through the 2013 price drop. Today, crypto traders interpret HODL as “Holding On For Dear Life.”
HODL refers to a situation where investors decide to hold their cryptocurrency despite unfavourable market conditions.
FUD is a term in crypto used to describe the intentional spread of negative or false information about a cryptocurrency to cause panic-selling or prevent further investment by others. It stands for “Fear, Uncertainty and Doubt. It is one of the most popularly used slang in the crypto space.
Pump and Dump
Pump and Dump is a term used to describe a situation where a wealthy investor buys a large amount of a crypto, thereby causing the price to surge momentarily (Pump), and more people buy the asset and further drive the price up. The investor then sells at the new high price, causing a crash (Dump) in the asset price due to large volume of sell-off.
In cryptocurrency terms, a whale is an individual investor who holds a very large among a particular crypto asset. Their actions in the market determine how the market moves.
Mooning is a cryptocurrency slang used to describe a situation where a crypto asset is experiencing a rapid increase in price or when it reaches a peak point. The slang first came into the system in 2017 when Bitcoin climbed to $20k within a short time.
ATH is a popular slang or acronym used in other fields. However, it became more popular from its constant usage by crypto enthusiasts. It stands for “All-Time-High”, which means the highest price a crypto asset has ever reached.
Like ATH, ATL is also constantly used in the crypto market. It stands for “All-Time-Low. It is used to describe the lowest price a cryptocurrency has ever reached.
The crypto space is full of uncertainties. This slang advises crypto traders and investors to carry out their own research before investing in any crypto asset.
DYOR stands for “Do Your Own Research.”
This refers to the fees charged for a transaction carried out on the Ethereum network.
Shill is a term used to promote a particular crypto asset or project to others, especially on social platforms.
One thing that makes the cryptocurrency space a fascinating one is the slangs and terms used there. It is essential to understand those slang terms to communicate correctly in the crypto language.