It depicts the recent price momentum for coins and tokens and a historical overview of the price on this day in the past few years. Cryptocurrencies are bought or traded by investors and speculators, and everything needs to be put in the correct perspective. Whales tend to have a following from others who may use their buying and selling decisions as an indicator of their future investment decisions.
Decentralized Exchange – a peer-to-peer marketplace for cryptotrading. Buying or trading an NFT/cryptocurrency without doing due research. Usually a thread for the community to ask a developer questions about their project. It also defines how files move across a network, making it convenient to share information and files among users on a network in a controlled and authorised way. Floor price means the lowest entry price listed for an NFT project. It’s essentially used as a disclaimer when someone is commending an NFT project, but warning others to develop their own understanding on the matter first before making any moves.
Blockchain and cryptocurrencies can bring to the world, and they are actively working towards this goal.
“Ape in” is used to describe the action of hastily purchasing a new NFT without doing enough prior research to understand the project. Meanwhile, “degen” (short for “degenerate”) describes a person who makes these risky and bad bets. Hence, we thought it’d be helpful to come up with a short glossary on some frequently used NFT terms, phrases, and acronyms, that are must-knows if you’re looking to join the chat. The definition, example, and related terms listed above have been written and compiled by the Slang.net team.
Not too far off from a scam, a “rug pull” refers to a scenario when a team behind a seemingly authentic NFT project abandons it and runs away with investors’ funds. What started as a hobby may now end up as a career in financial planning advisory. In the last several years, zachxbt has been doing at least part of the FTC’s job by identifying scammers and warning of the dangers of unscrupulous influencers. He says this is common in the crypto space and is increasing in the NFT space. Rug or Rug pull in crypto/NFT projects refers to the malicious act when a founder/ Dev team behind a project abruptly abandon the project and run away with investors’ funds. Degen is short for “degenerate”, and usually refers to “degenerate gamblers” in the crypto space.
But more often it is used simply as a warning about careless investments of those who are new to the crypto space. It means that one should do a lot of research before they make a buy position of a cryptocurrency and make sure they set a stop-loss to protect against possible reverse in the market. In social media and forum posts about investments, NFA stands for “not financial advice.” Posters use this acronym to ensure you do not regard their post as legal financial advice. However, more recent and egregious activities by high-profile influencers may elicit sufficient consumer outrage to draw the FTC’s attention or spur changes in the enforcement posture.
A decentralized community onboarding 1 billion people to crypto. A Cryptocurrency or a NFT Project is “mooning”, means that it’s price has skyrocketed and still seeing an upward trend. Many crypto advisors on Twitter advise newcomers to keep flipping till they’ve enough liquidity to buy some solid NFTs (which has great team, marketing & value), and then hold onto those NFTs. In addition, KYC regulations aren’t only valid for participants of the financial industry. Many other segments also have to comply with these guidelines.
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Raids is a term describing NFT projects that conduct flash campaigns on social media to keep communities engaged and promote their NFTs. Community engagement and support is key to keeping an NFT project going, particularly since collections are released in phases over durations of time. With the extreme demand of “SQUID GAMES” TV Series, the “Squid Games token” gained so much hype that its price rise to more than 2000% within a week.
You take the current value of the investment and subtract the original cost of the investment. The idea is that the SAFU may cover the loss of user funds in extreme cases, offering an additional blanket of protection for Binance users. This is why you might often hear the phrase “funds are safu.”
Every single possible competitor which is very close to the coin that a trader is researching on, should be researched on to. After doing so, whatever seems better to the trader should be invested in after strategizing the plan completely. For doing self-research, it is very necessary to know all the key features of the cryptocurrency’s blockchain. Not only that, but also the development of the coin over the years should be analysed and the future development should be predicted accordingly.
- Testimonials and endorsements must reflect the typical experiences of consumers, unless the ad clearly and conspicuously states otherwise.
- So in this article we’ve listed some of the most commonly used crypto & NFT jargons that you may encounter in your quest to become a web3.0 citizen.
- These are a collection of thousands of characters with distinct and unique traits, all put together algorithmically.
- Derivatives products made up of derivatives products, and other complex market machinations can make tracing the true source of funds quite difficult .
- The latter is important because that is when people will buy into it and the price will increase.
Stock exchanges and trading platforms have to comply with national and international guidelines. For example, the New York Stock Exchange and the NASDAQ have to comply with regulations set by the United States government. AML regulations require financial institutions such as banks to monitor the transactions of their customers and report on suspicious activity. This way, criminals are less likely to get away with laundering illegally obtained funds. However, if the asset breaches its ATH, there aren’t any sellers left who are waiting to exit at break-even. This is why some refer to ATH breaches as “blue sky breakouts,” as there aren’t necessarily any obvious resistance areas ahead.
Crypto Influencers: Youre Getting Paid?
This in turn leads to what feels like an unreasonable amount of shilled promotional content where the business relationship between the brand and influencer is, at best, unclear. The lack of clarity can be particularly deleterious to new, or even experienced, crypto users and shines a negative light on the industry as a whole. Are you new to the crypto space and want to invest in some valuable projects? Or perhaps you want to support your favorite artist/cause by buying their NFTs. Whatever the reason, one of the first thing we tell our readers is to educate themselves, read free blockchain literature, follow virtuous web3.0 influencers and always always DYOR. First, it is referred to as covering your digital footprint, your online activity in order to not be identified.
Other research tools on CoinMarketCap include the price charts — to gauge volatility, support and resistance levels used intechnical analysis — and the website and social links of individual projects. Additionally, you can find audits — if provided — along with GitHub activity, social follower counts, a list of wallets supporting the asset, and more. In NFT Space, Iconics – a 8000 NFTs of 3D Artwork on Solana made “Rug Pull” headlines last year in September, when the artist behind the project raked in around $140,000 before disappearing. All the social media accounts of the project were wiped out and investors got “emoji’s” instead of promised “3D Artwork”.
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On social media and in Internet forums, DYOR means “do your own research.” Posters use this acronym to tell others to do their own research about everything from cake recipes to vaccines. However, DYOR is most commonly used in the crypto community, as a warning to think twice before purchasing a cryptocurrency. The FTC has generally focused its enforcement efforts on larger entities, i.e. on brands rather than individual influencers. Whatever the reason, the FTC appears reluctant to engage in the type of enforcement tactics it regularly deploys in other areas, which in turn seems to have contributed to rampant non-compliance by influencers. The FTC uses enforcement actions to identify non-compliant individuals and entities, as a model for other advertisers or influencers to follow, and to illustrate which actions to avoid in future advertising. The FTC has traditionally been aggressive when deploying its delegated authority and has used Section 5 of the FTC Act, in tandem with its interpretive definition of ‘deception’, as a sword.
The acronym of Do Your Own Research — encouraging investors to complete due diligence into a project before investing. A common scam in the NFT world where developers lure in investors and suddenly disappear with all the funds. Every NFT project has a roadmap that shows investors its goals and strategies to demonstrate its value. Free or bonus NFTs offered by creators as a reward to investors or to generate interest in their project. When someone uses the phrase, “sweep the floor” in the NFT realm, it’s meant to encourage members in the community to buy the NFTs at their floor price to hopefully raise the value of the project.
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So, in case of a event where they plan to meet in real physical world as oppose to the virtual world, they’ll use IRL. Nowadays it’s also applied to stocks, bonds, REITs, hedge funds and marriage. Parabolic moves can often end up in very sharp price drops, as many investors rush to the exit once they realize the uptrend may be coming to an end. Check out the price drop after Bitcoin’s parabolic move to $20,000 in December 2017. As already mentioned, security measures are very important and that is why any trader should be aware of the legal barriers to entry.
ROI measures the returns of an investment relative to the original cost. It’s also a convenient way to compare the performance of different investments. Every self-dependent trader requires a set of questions that they need to ask themselves before investing into a certain coin in the crypto world.
There is also the potential that certain NFT and DeFi projects that allegedly constitute securities will give rise to increased promoter liability through SEC enforcement actions, as with Bitconnect. However, until something changes, such as the FTC allowing a private right of action under Section 5 of the FTC Act, DYOR, this is NFA, and don’t expect the FTC to enforce influencer disclosure requirements. CoinMarketCap provides users with the necessary tools to DYOR.
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SourceZach does caveat that not everyone on these lists does undisclosed promotions, but the ‘vast majority’ do. It is probably a good rule of thumb to take discussion or potential endorsement of new projects by large accounts with dyor meaning a grain or two of salt. The name is generally self-explanatory and correlates with audience size and reach on various internet fora. FTC regulations require clear disclosure of any relationship with a promoted brand or project.
On the flip side, those who are trying to scam others may also tell them to DYOR, in hopes the potential purchaser’s research will turn up misinformation that encourages them to buy. Crypto influencers, NFT Projects, Artists and celebrities often hold live AMA sessions on discord, telegram & twitter spaces to keep in touch with their community whilst get a feedback from them. Community members can ask any question and https://xcritical.com/ they try to answer as much as possible. The Crypto market is flooded with new NFTs projects everyday and its difficult for both the NFT Creator as well as Collectors, who are eyeing good NFT Projects. So, usually NFT Collectors and influencers ask their followers to “Shill” some good NFT projects. These are a collection of thousands of characters with distinct and unique traits, all put together algorithmically.
As the leading platform for cryptocurrency prices, ranking, market intelligence and research, it provides transparent details regarding coin rankings, token rankings,market capitalization,trading volumes and more. The full methodology used by CoinMarketCap to list and rank crypto tokens can be foundhere. These are the four initial pillars to focus on, as they often help you compare currencies to one another.
Speculation, but about bringing this technology to the masses. It acts as a reminder to keep our heads down and keep building the infrastructure that may very well serve billions of people in the future. In addition, BUIDLers understand that the teams that keep building with a long-term mindset will likely do well over the long-run.
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The FTC’s Endorsement Guide, for example, places the burden on influencers to make it ‘simple and clear’ when they have a relationship with a brand. Flipping NFTs means buying them early at low prices and then selling quickly for a profit. The concept is analogous to the real life flipping of trading cards, rare toys, and comics for profit. The term Flippening was colloquially coined in the year 2017 to represent the idea of a hypothetical situation in which Ethereum overtakes Bitcoin in terms of market capitalization. Similarly the term in NFT space represent “Bored Ape Yacht Club ” Floor Price Higher Than “CryptoPunks” – the OG NFT collection. They can drop images and marketplace links of their projects in the tweet while their supporters can back them.
This is to describe the future state when investments are (or aren’t) going to succeed and deliver great returns. Used frequently in the context of buying and selling properties, flipping refers to buying items at low prices and selling them quickly for a profit. On the other hand , Paper Hands is the opposite of Diamond Hands. It refers to someone who sells or flip their assets too soon, without holding on to them for the long term. When this happens, holders of the NFT are typically left with a dead resale market for their collection, unless the NFT gets relisted.