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11 Popular Crypto Terms Decoded

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Let's dive into the world of crypto jargon! From "diamond hands" to "the flippening," here's a friendly guide to 11 common crypto terms you'll find on Reddit or Twitter.

  1. Diamond hands :gem::raised_hands: : You're likely to see this meme in the crypto community. It means holding onto your investment no matter what, inspired by the HODL philosophy (explained below). If someone has "paper hands," they're likely to sell out of fear.
  2. FOMO: This acronym stands for "fear of missing out." When markets are soaring, it's easy to let emotions take over and make rash decisions. One way to combat FOMO is to stick to a long-term investment strategy, like dollar-cost averaging.
  3. FUD: This one stands for "fear, uncertainty, and doubt." It's an old PR tactic of spreading false information to create a negative reaction. In crypto, FUD can refer to general skepticism or criticism. When faced with FUD, it's best to DYOR (do your own research).
  4. The Flippening: This term refers to the hypothetical event where Ethereum's market cap surpasses Bitcoin's. It can also describe a similar situation where a smaller crypto overtakes a larger rival.
  5. HODL: HODL came from a drunken typo in a 2013 Bitcoin forum post. It means to buy and hold for the long term, regardless of market fluctuations. Some Bitcoin fans even turned it into an acronym for "hold on for dear life."
  6. Laser eyes: In 2021, Bitcoin supporters began showing their dedication by adding "laser eyes" to their Twitter photos. Celebs like Tom Brady, Paris Hilton, and Elon Musk have joined in. The hashtag #LaserRayUntil100K often accompanies the meme.
  7. Memecoin: Dogecoin (DOGE) is the original memecoin, a cryptocurrency based on a popular meme. In 2021, the success of Dogecoin sparked a wave of similarly named tokens, like AKITA, SHIB, and Dogelon Mars (ELON).
  8. Moon (or mooning): When a cryptocurrency's value skyrockets, traders say it's "going to the moon" or "mooning."
  9. Pump and dump: This scheme involves a group of traders working together to inflate an asset's price, promote it to unsuspecting investors, and then cash out before the value crashes.
  10. Rekt: In gaming, getting "rekt" means losing badly. In the crypto world, it's what happens when you fall victim to FOMO or a pump and dump scheme.
  11. Whale: Whales are the largest crypto holders, like those who own more than 1000 BTC. Their trades can significantly impact the market. As of mid-May 2021, the top 100 Bitcoin addresses held over 20% of all BTC.

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