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As crypto and NFT are continuously influencing online we tend to hear a lot of crypto lingo and non-fungible talk that gives us a headache for sure.
Let's be familiar with the common to rare NFT and crypto buzzwords.
GM and GN: This just a simple means good morning and good night.
PFP: Profile picture – This simply describes your profile picture in one of your social media accounts, as now integrating Twitter to open-sea, which means that in some countries they allow twitter to link one of your collections in NFT and make it your profile picture,
BUIDL: Either it's NFT or crypto there's someone like you who wants to build and contribute.
Alpha: It was divided into two definitions. In NFT it means an exclusive project that is widely known yet and in crypto, it refers to a very early stage production process of a blockchain open for testing.
P2P: This is a way to exchange your crypto token for funds, to buy or sell it directly to another user.
HODL: This means that you will risk holding an NFT or crypto asset for a certain period of time.
FUD: Fear, uncertainty, and doubt – This is a common strategy to influence negatively by spreading false information.
Shiller/Promoter: It refers to who's promoting a crypto pr NFT projects in communities like discord or Twitter. The best example is someone on Twitter with a huge following saying that they can promote your project.
WAGMI: We're all gonna make it – It’s bullish behavior to commonly use in the NFT community like a discord server.
GAS: This is a transaction or processing fee that you will pay for every conversion or transfer you do.
Paper Hands: It's someone who buys and sell assets within a shorter period of time, either in minutes, hour, week, or months. They sell and buy with less to no pressure at all.
TA: Technical analysis – This is a common term for someone who’s a nerd of analyzing crypto charts.
Pump and Dump: Pump means that a specific crypto token increases the value while the dump is the opposite.
Bear Market: This means that most crypto tokens are decreasing the value.
Bull Market: This means that most crypto tokens are increasing the value, including the market cap.
Bag Holders: These guys are the one who buys and holds a large volume of crypto tokens.
FOMO: Fear of missing out – This is a feeling of being afraid to sell or buy a crypto asset because of false info you've heard.
JOMO: Joy of missing out – When you're happy when you didn’t buy a specific coin because the price of it drops.
Whale: This is a most respected crypto holder and trader. Maybe are in bitcoin holders 5 years ago.
Fish: Someone who has a small crypto asset.
DYOR: Do your-own research - Whether it’s for NFT or crypto projects you must do your research.
NFA: Not financial advice.
ICO: Initial coin offering – If you decide to launch a token this is what you will be doing.
Mint: It's making your NFT live and public for a very cheap price. Most of the time mint prices will be revealed days before the mint date.
FP: Floor Price - It’s the lowest NFT price on sale.
Moon: It's a prediction that the price of that NFT or crypto project will reach its highest peak.
RSI: Relative Strength Index – This shows if a crypto token is being oversold or overbought.
Rug Pull: This means that there’s someone who maneuvers a token and stole it. For example, crypto developers may abandon a project and run away with investors’ funds.
Dip: It means that crypto asset is just price dropped.
Short and long: It's a trading option where you can get a huge profit if you correct your prediction that the value of specific crypto will drop. On the other hand, long is just the opposite you'll get profit when you're right on your prediction that a specific crypto price will rise.
REKT: You get a huge loss from a trade.
Futures: This is a crypto trading option where there’s no limit on profits or losses. Either your win or you lose your investment.
Swing: This means that the price movement is moving upwards and downwards like a zig-zag.
Memecoins: These are the cryptocurrencies that are way far behind the traditional token, it has no utility, mostly inspired by memes and internet jokes.
Weak Hand: A coin holder who's prone to sell at the first sign of a dip in price, mostly happening for a newbie trader.
Reverse Indicator: Someone who always has a wrong move in predicting the price movements.
MCAP: Market capitalization - This is a total of the calculated value of a single cryptocurrency.
Altcoins: Alternative crypto token aside from Bitcoin and Ethereum.
Smart contracts: It's a code run into a blockchain that mostly runs on Ethereum network solidity. An agreement between buyers and sellers wrote into lines of code.
Hope this helps you, now you can sit with someone who's having crypto and non-fungible talk. I’ll keep you posted if I hear a new one.