The cryptocurrency market has its own vocabulary ‘lingo’ and short forms that can be confusing if you’re a newcomer. Investors are usually connected on social media and chose to talk the ‘internet language’. The internet language consists of the obvious ‘Lol, Lmao, Rofl, Brb’ etc. While on the other hand, the crypto social media language revolves around words ‘FUD, FOMO, HODL’ among others.
Here are 5 different ‘cryptocurrency vocabulary’ to help you navigate the world of blockchain technology.
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1. FUD
This is the most common cryptocurrency vocabulary that investors use daily on social media. FUD stands for fear, uncertainty, and doubt. The term comes to use when an investor reads something bad about his/her favorite crypto and immediately comments ”FUD”.
The comment indicates that the person did not like what he/she just read. It’s a way to declare that the ‘writer’ is trying to bring down the crypto by spreading ‘fear, uncertainty and doubt’. In short, the writer is spreading ‘FUD’.
2. FOMO
FOMO stands for ‘fear of missing out’ and here’s how it usually comes into play. For example: When Shiba Inu spiked +1000% in October 2021, everybody jumped on the meme-token bandwagon by investing their money. They feared that if they don’t invest now when it’s spiking up, they might miss ‘phenomenal returns’.
Therefore, the term FOMO is always alive in the cryptocurrency market, as investors feel that if they don’t invest in ‘xyz’ they might lose out on the gains.
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3. To the Moon
Not a day goes by when cryptocurrency investors proudly proclaim ‘to the moon’ on social media. The phrase is embedded into the investors ‘dreams and hopes’ that one day, his/her token will reach the desired amount. Hence the word ‘to the moon’ or ‘mooning’ comes into the picture.
For example, Safemoon investors want the DeFi token to breach the 1 Cent mark. Therefore, whenever SFM spikes in price, comments such as ‘to the moon’ get flooded all over social media. When investors get carried away with emotions, ‘to the moon’ can also become ‘to the moon, Mars and beyond’.
4. HODL
HODL stands for ‘Hold on to dear life’. The phrase comes into the picture when one buys crypto and decides to hold on to it for the long term. The term HODL also mirrors the unity and understanding of the community on social media.
For example: If Floki Inu dips in price, investors band together and start tweeting ‘HODL’. In other words, they’re proclaiming that the price dip does not affect them, as they’re holding the token for the long term. The phrase also urges others not to ‘sell’ their tokens during a dip. HODL also reminds investors to keep holding despite a bloodbath as the sun will rise again.
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5. Whale
Someone holding millions, billions, and trillions worth of cryptos and more are considered as whales in the crypto market. Whale watching is an everyday trend in the crypto sphere and there are dedicated websites and Twitter handles for it.
Whale watchers track the movements of buying and selling among the ‘whales’ and plan their investments accordingly. For example: If a mysterious whale buys $10 million worth of Dogecoin, our crypto investors on Twitter might sound like ‘whale is buying, that means he knows something’.
The whale phenomenon can sometimes lure investors to buy that particular token. As in, ‘if the rich are buying it, it can make me rich too, right? (type of logic works here).
