Crypto & NFT Terminology

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Some frequently used terms used on Crypto & NFT communities and their meanings:

  1. ATH- All Time High
  2. ATL- All Time Low
  3. Airdrop- When a coin/token gets dropped to a person's wallet for free
  4. Ape in- The act of purchasing a NFT or a coin
  5. Bearish- Expectation that a coin/NFT will go down in value
  6. Blue Chip- Well known projects with not a lot of volatility
  7. Bridge- The process of transferring of tokens and/or arbitrary data from one chain to another for a fee.
  8. Bullish- Expectation that a coin/NFT will go up in value
  9. CEX- Centralized Exchange
  10. CT- Crypto Twitter
  11. DAO- Decentralized Autonomous Organization
  12. DApp- Decentralized Application
  13. DEX- Decentralized Exchange
  14. DYOR- Do Your Own Research
  15. DeFi- Decentralized Finance
  16. Degen- A person who purchases coins and/or NFTs without much/any prior research
  17. Devs- Developers
  18. Diamond Hand- A person who does not sell their NFT or coin despite it losing value
  19. Doxxed- When the identity of an anonymous developer, project founder or creator is revealed.
  20. Dump- The act of selling a coin
  21. FOMO- Fear Of Missing Out
  22. FUD- Fear, Uncertainty and Doubt
  23. Fiat- Government issued currency such as USD, Pounds and Euros
  24. Flipping- refers to buying items at low prices and selling them quickly for a profit
  25. Floor Price- The lowest entry price listed for a NFT project
  26. Fren- Friend
  27. GM- Good Morning
  28. GMI- Gonna Make It
  29. GN- Good Night
  30. HODL- Holding a coin/NFT for long term gains through losses and/or highs.
  31. ICO- Acronym for Initial Coin Offering. It is an unregulated funding method, where the development team for a new cryptocurrency sells digital assets to early adopters.
  32. IDO- Initial Dex Offering. In IDOs, new NFTs or tokens are launched via a decentralized liquidity exchange as a fundraising method for upcoming crypto or NFT projects.
  33. KYC- Know Your Customer. Process in which companies verify their users’ identities by requesting a series of personal information (e.g. passport/government-issued IDs)
  34. L1- Refers to a base blockchain network and it's underlying structure. (eg. Ethereum, Bitcoin)
  35. L2- Layer 2s are scaling solutions that operate on top of an underlying blockchain protocol (e.g. Ethereum) to improve its scalability and efficiency.
  36. LP- Liquidity Provider
  37. MEV- Maximal Extractable Value (formerly Miner Extractable Value)
  38. Minting- The process by which an NFT becomes part of the blockchain. Once an asset is put on the blockchain, it is “minted” as a token and cannot be altered.
  39. Multisig- Multi-Signature Wallet, It is a wallet that requires more than one signature for a transaction for moving funds for additional security.
  40. NFA- Not Financial Advice
  41. NGMI- Not Gonna Make It
  42. Paper Hand- A person who sells their NFT or coin too soon, or as soon as the value drops a little
  43. Pump and Dump- When a person buys a whole lot of a coin and promotes it to drive it's price higher, then sells it for a very big profit, causing loss for other people.
  44. Roadmap- A set of goals/achievements for a coin or NFT project which they work hard to reach
  45. Rug Pull- refers to a scenario when a team behind a seemingly authentic NFT project abandons it and runs away with investors’ funds.
  46. Secondary Market- After an NFT is minted, it can be sold or purchased on the secondary market, such as LooksRare
  47. Seed phrase- The 12 or 24 word phrase which is used to access crypto wallets
  48. Ser- Sir
  49. Shill- The act of promoting coins/NFTs
  50. To The Moon- When a cryptocurrency/coin will go up in value, to the moon is metaphorically speaking
  51. Tokenomics- A word coined by combining “token” and “economics”. Tokenomics include statistics, quality and data of a token that may interest investors.
  52. VC- Venture Capital
  53. WAGMI- We Are Gonna Make It
  54. WL- Whitelist
  55. Web3- An idea/vision for a new iteration of the web based on a decentralized online ecosystem powered by blockchain technology
  56. Whale- A person who has a lot of holdings in a NFT or coin.