Looking for BLUM Daily Video Codes for October 23, 2024? You’re in the right place! WEEX has all the information you need on Blum daily video codes. Today’s Blum video, titled “Crypto Slang You Need to Know #1: HODL, FOMO, DYOR & More”, has been released with the code “BLUMSTORM”. In this article, we’ll also dive deeper into key crypto terms to keep you ahead of the game.
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Blum Crypto Slang Part I October 23-24

The Blum Academy recently released its latest video, “Crypto Slang You Need to Know #1: HODL, FOMO, DYOR & More“ on October 23. This Blum Crypto Slang Part I video breaks down some of the most common crypto slang terms you may have encountered but didn’t fully grasp. It’s designed to help you speak like a seasoned crypto pro. Stay ahead of the curve and elevate your crypto knowledge with these essential terms!

Blum Crypto Slang Part I Video Code Task:

Video: Crypto Slang Part I

Blum Code : BLUMSTORM

What is Crypto Slang?

Crypto slang refers to the specialized jargon and abbreviations used by crypto enthusiasts, traders, and investors to communicate quickly and efficiently. These terms are often created by the community to describe specific behaviors, strategies, or situations in the crypto world. Mastering crypto slang can give you an edge when interacting with others, understanding market sentiment, or keeping up with the latest trends in crypto trading.

Blum Crypto Slang Part I: DYOR (Do Your Own Research)

DYOR is a vital piece of advice in the crypto world. It emphasizes the importance of conducting your own research before investing in any project or coin. While there’s a wealth of information available from influencers, online forums, and social media, it’s crucial to make informed decisions based on your own analysis. This ensures that you’re not blindly following hype but are investing in solid projects with real potential.

Blum Crypto Slang Part I: FOMO (Fear of Missing Out)

FOMO is a common feeling among crypto investors, especially when they see prices rapidly rising. Fear of missing out can lead to impulsive buying, often at the peak of a market rally, driven by the anxiety that you might miss a significant opportunity. While FOMO can sometimes lead to gains, it can also result in heavy losses if the market corrects shortly after a surge. Seasoned investors usually develop strategies to avoid making emotional decisions based on FOMO.

Blum Crypto Slang Part I: HODL (Hold On for Dear Life)

Originally a typo for “hold,” HODL has become a widely accepted term in the crypto community. It represents a long-term investment strategy where investors hold onto their assets through market fluctuations, instead of selling during downturns. HODLers believe in the long-term value of their cryptocurrencies and avoid panic selling during market volatility, confident that prices will eventually recover and grow over time.

Blum Crypto Slang Part I IYKYK (If You Know, You Know)

IYKYK is a popular phrase not exclusive to crypto, but it’s used frequently in the space to refer to insider knowledge or niche information that only a select group of people might understand. When someone uses this term in a crypto context, they’re often referring to a hidden opportunity or an important project that hasn’t gained widespread attention yet.

SAFU (Secure Asset Fund for Users)

SAFU originated from Binance and stands for “Secure Asset Fund for Users.” It refers to the fund established by the exchange to protect users’ assets in the event of a security breach or major loss. Over time, SAFU has evolved into a slang term that assures users their assets are safe, particularly when there are concerns about platform security or during market volatility.

Key Crypto Slangs You Should Know

Crypto Slang	Explanation
Whale	A person or entity that holds a large amount of cryptocurrency and has the ability to influence the market by making large trades.
Altcoin	Any cryptocurrency other than Bitcoin. Popular altcoins include Ethereum, Litecoin, and Cardano.
Bagholder	An investor who holds onto a cryptocurrency that has significantly dropped in value, often waiting in the hope that the price will recover.
Pump and Dump	A scheme where the price of a cryptocurrency is artificially inflated (pumped) through exaggerated promotion, only to be sold off (dumped) by those behind the scheme, leaving other investors with losses.
Shill	The act of promoting or hyping a cryptocurrency, usually with exaggerated or biased information, often for personal gain.
Moon	Refers to a significant and rapid increase in the price of a cryptocurrency. When a coin is “mooning,” its price is soaring.
FUD (Fear, Uncertainty, and Doubt)	Negative information or rumors spread to create fear among investors, leading to panic selling. FUD is often used as a tactic to manipulate markets.
ATH (All-Time High)	Refers to the highest price a cryptocurrency has ever reached in its trading history.
Diamond Hands & Paper Hands	Related to HODL. Investors that HODL are said to have diamond hands, meaning they are not prepared to sell their holdings for any price. This probably originated during the Gamestop short squeeze in early 2021 when retail traders caused a price surge of a seemingly low-value stock.The opposite is paper hands, referring to traders/investors who quickly sell their position when facing decreasing prices.

Know More Key Blum Crypto Slang on WEEX

WEEX Exchange is a leading cryptocurrency trading platform known for its user-friendly interface, advanced trading tools, and commitment to security. Whether you’re a beginner or a seasoned trader, WEEX offers a seamless trading experience with support for various cryptocurrencies, including BTC/USDT, ETH/USDT, DOGE/USDT, XRP/USDT, WXT/USDT SOL/USDT and other numerous altcoins. Beyond trading, WEEX is dedicated to educating its users, making it a trusted resource for those looking to stay informed in the fast-paced world of crypto.

As part of its ongoing effort to support the crypto community, WEEX will continue to update and expand its collection of Blum Crypto Slang in the coming days. Stay tuned for more essential crypto terms and strategies to enhance your knowledge. Make sure to follow WEEX Help for the latest updates and tips to sharpen your crypto skills!