After a tumultuous ride in recent months for the crypto space, plenty have weighed in on the future of the market – with enthusiasts creating their own jargon across popular social networks like Reddit, Twitter, or TikTok.
If you’ve been mindlessly scrolling through these communities, you may have come across some baffling acronyms, questionable names, and misspelled words. From bitshaming to HODL, new vocabulary is always popping up, but what exactly do they mean?
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Explaining Viral Crypto Terms
Uphold can reveal that the hashtag #cryptoterms has racked up a whopping 537.1k views on TikTok, driving demand with searches for “crypto lingo cheat sheet” up 256% in the last 12 months.
With trends constantly being invented and TikTok driving the finance game, here are some unusual, and even questionable, terms so you can navigate this exciting digital phenomenon.
Diamond Hands
The term “diamond hands” has been popularised by the crypto community and refers to holding onto an investment no matter the volatility. This person is seen to have a high-risk tolerance and won’t sell their digital assets at the first sign of trouble.
Bitshaming
Bitshaming is a term intended to mock a bitcoin holder for not having a massive value in bitcoin and being rich yet.
The Flippening
The Flippening is one of the most controversial topics in the crypto space, and refers to the possible moment when Ethereum overtakes Bitcoin as the most valuable asset.
HODL
HODL is one of the longest serving crypto terms, standing for “hold on for dear life”. It’s used to refer to holding onto cryptocurrency tokens or coins for an extended period of time.
To The Moon (Or Mooning)
In what can only be described as cryptocurrency on a rocket ship, ‘going to the moon’ is when cryptocurrency reaches a sky-high valuation, literally heading to the moon.
Hash Rate
Hashrate is a key security metric and refers to how much computing power is being used by a network to process transactions.
Pump And Dump
As gross as it may sound, this term represents a type of scam where an individual spreads misleading or false information in order to inflate the price of a new digital asset in the market.
Whale
This term refers to crypto holders with disproportionately large amounts of cryptocurrency. Crypto ‘whales’ can influence the market with their buying/selling power.
Rekt
Rekt is a shortening of ‘wrecked’, referring to when an investor has suffered a huge financial loss by a bad investment and is severely damaged by the outcome.
Vaporware
This is a loose term that is defined as a blockchain project that is still only a concept, and hasn’t found its clear use case yet.
Shill
To ‘shill’ in the crypto space is to publicly endorse any crypto coin, creating hype that results in more buying.
Ape In
‘Ape In’ is another mocking crypto slang term, used to describe a person who buys a digital token without much research.
Floor Sweeping
Simply put, ‘floor sweeping’ is a trading strategy where buyers purchase a large number of available tokens. On the other hand, it can also refer to when project owners buy all their tokens at the floor price.
Soy Boy
Soy Boy is used to insult someone in the crypto space who can’t handle the dips of the market.
Bag Holders
Bag holder refers to investors who hold onto digital assets for an extended length of time, however unlike the term ‘diamond hands’ this isn’t a good thing. These types of investors hold digital assets that decrease in value until it is worthless.
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