Cryptocurrency Abbreviations And Acronyms Of Popular Coins

There are 9,723 cryptocurrencies around the world as of Saturday, May 20, 2023, and there is no limitation to the number of other crypto assets that are underway.

BTC, LTC, ETH, are some of the abbreviations (currency stickers) associated with the Internet of money (digital currency), but there is also common cryptocurrency jargon (terms) generally used in the crypto market.

In this post, we compile some cryptocurrency abbreviations and acronyms of some popular coins in the market.

Cryptocurrency terms used in a digital coin trading

Selling Pressure

Selling pressure occurs when the majority of traders or coin holders are selling, indicating that the majority think the market price will decrease.

This happens between January 16 to January 18 when one of the Bitcoin lending and exchange platforms, BitConnect, stopped lending and staking.

It paid off some of its investors leading to price cash of BCC coin from over $300 to $9USD. Nearly all the BCC coin holders flooded the trading market to sell their coin and the value of BCC coin fell heavily.

Up till now, BCC hasn’t recovered from the pressure. At the time of compiling this list, BBC was $7.29USD, experiencing a downfall of 29% in the last 24 hours.

Shill

Someone who overhypes a cryptocurrency that is usually a scam.

Soft Wallet

Software used to store cryptocurrencies either on PC, mobile devices, or online.

Trading Volume

Trading volume is the total amount of digital coins that were traded during a certain period of time.

Support Level

This refers to a price point in which downward price movement is resisted due to market conditions.

Altcoins:

This is a general term used to refer to alternative coins to Bitcoin. All other coins that came up after the success of Bitcoin in the market are known as Altcoin. Ethereum, litecoin, dash, monetro and the others are referred to as altcoins (bitcoin alternative).

Bitcoin Whale:

Bitcoin Whale is an early Bitcoin investor who bought a large chunk of Bitcoin when the value was relatively low.

For instance, someone who bought Bitcoin worth of $10, 000 when one bitcoin was below $1 is definitely a BTC whale today when a BTC is worth over $10,000USD at the time of compiling this acronyms and cryptocurrency glossary.

Bag Holder:

A cryptocurrency investor who buys and holds coins in large quantities, optimistic that he’d make profits when coins get more value in future i.e when the price goes up.

Cryptocurrency:

Cryptocurrency means digital currency (money) that utilizes encryption and cryptography to control the generation of new units of currency as well as secure and verify transactions of that currency.

Cryptocurrency exchange

A cryptocurrency exchange is a digital (trading) marketplace where traders can buy and sell bitcoins, Ethereum, litecoin and other coins using different fiat currencies. It is an online trading platform that acts as an intermediary between buyers and sellers of cryptocurrency.

Cryptocurrency exchange platforms are similar to stock exchanges where buyers and sellers are matched.
At the time of compiling this list, there are close to 10,000 cryptocurrencies listed in the market opened for trading.

However, less than 30 of the coins are globally known, while others are still geographically based, promotion and Ads could make them go global like bitcoin, Ethereum, litecoin, and monero, it may not be so soon.

ATH – All-Time High
DOS – Denial of Service
FOMO – Fear Of Missing Out
FUD – Fear, Uncertainty, and Doubt
POS – Proof-Of-Stake
POW – Proof-Of-Work
UAHF – User Activated Hard Fork
UASF – User Activated Soft Fork