The crypto space, while still young, continues to grow at a rapid pace. As more and more people join, unique language and slang continue to develop. Here, we discuss the crypto terms you may see on a good day.
An airdrop is the distribution of cryptocurrency tokens or coins — typically for free and sometimes unsolicited — to a number of wallet addresses. It is often used as a marketing tactic for projects to bring attention to themselves and get their token out to more people. Airdrops are also at times used to reward early adopters and active users for a particular crypto project.
An airdrop usually requires an action or satisfaction of certain criteria to participate (e.g., to hold a certain amount of tokens by a certain date). Individuals who have completed the desired action or met the criteria by the target date will then usually be included in the airdrop.
ATH is short for ‘all-time high’ and refers to the highest price an asset has historically reached since it was first listed. In other words, ATH can be thought of as the highest price ever paid for a specific asset.
💎🙌 Diamond Hands
Diamond hands is a term often used to describe the risk appetite of traders. It is a trading ethos commonly identified in long-term market participants.
A trader with diamond hands will hold on until the bitter end — regardless of market conditions. The term may be used to signify a high appetite for risk. The archetypal trader with diamond hands doesn’t cave in and sell their tokens until the tokens have reached their full potential in the trader’s eyes.
DYOR stands for ‘Do your own research’. It is commonly used in crypto to remind traders to vet a project before moving forward.
The acronym GM stands for ‘Good morning’. This greeting promotes positivity and builds camaraderie online. Twitter members in the crypto sphere regularly start their day with a GM tweet, with followers often tweeting back with a GM reply.
‘Keep calm and stack SATS’
SATS stands for Satoshis, the smallest available unit of a Bitcoin — 0.00000001 BTC. The Satoshi name comes from the original creator of Bitcoin, Satoshi Nakamoto. Individuals commonly use this phrase to instil confidence in one another with regards to their participation in the crypto market. ‘Keep calm and stack SATS’ is often understood to mean that, no matter the market sentiment or the amount an individual is able to buy, they personally intend to focus on accumulating Bitcoin.
LFG is short for ‘Let’s f–ing go!’ and is used to express excitement about a project.
This expression is used to describe a cryptocurrency projected as having a strong or sudden upward market trend: When a cryptocurrency is ‘mooning’, its price is skyrocketing so high that it’s figuratively going to the moon.
Examples of phrases you might stumble across involving this hyperbolic term include:
- ‘Ethereum is going to the moon’ (the price of Ethereum is soaring)
- ‘When moon?’ (commonly used to ask when the price of a cryptocurrency will make a big jump)
- ‘Prices are mooning’ (prices are going through the roof)
People overly enthusiastic about a coin’s prospects are labelled as ‘moonbois’ or ‘moonboys’.
WAGMI stands for ‘We’re all gonna make it’. The crypto community uses the acronym to inspire positivity and confidence in a project. It also encourages the community to support each other and not lose hope.
‘When Lambo?’ (also often spelled as ‘Wen Lambo?’) translates to ‘When will you buy a Lamborghini?’ It’s often used ironically to mock people focusing only on a coin’s price.
In the early days of crypto, it was frequently reported that wealthy cryptocurrency traders purchased Lamborghinis as a status symbol to prove their success in the market. Lamborghinis became synonymous with a cryptocurrency’s success, with many people in the community using the crypto slang phrase ‘When Lambo?’ to ask when a cryptocurrency will be worth enough to buy a Lamborghini.
It’s important to familiarise yourself with common crypto slang as you explore the crypto space.