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AUG 21, 2023 | UPDATED SEP 01, 2023
In crypto terms "degen" is derived from "degenerate". It's commonly used to label individuals who dive deep into the volatile world of crypto, taking on speculative and high-risk trades or investments. These traders often rely on gut feelings, trends, or hype rather than thorough research or traditional financial analysis.
The term “degen” traces its roots back to sports betting, where it was a condensed version of “degenerate”, hinting at bettors who wagered large amounts without adequate expertise or insight.
In the cryptocurrency sphere, “degen” characterizes traders who dive into high-risk ventures without thorough groundwork. Such traders often overlook crucial aspects like metrics, tokenomics, and both fundamental and technical analyses. Instead, they might be swayed by superficial elements, such as an appealing logo or a memorable tagline.
While “degen” might carry a hint of criticism, many in the crypto world wear it as a mark of pride. It signifies a daring spirit and a full embrace of the crypto ethos. These individuals are not just passive investors; they’re deeply involved in their chosen projects and communities. Their dedication goes beyond mere investment; they actively participate, share insights, and bolster the community, reflecting their genuine passion for the crypto domain.
A DeFi Degen refers to an individual who delves into the decentralized finance (DeFi) sector, specifically targeting high-risk, obscure, and often unaudited cryptocurrency projects. These traders have a penchant for meme tokens and projects with humorous undertones. The label “DeFi Degen” is frequently linked with price manipulations, especially the notorious “pump and dump” strategies.
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A crypto airdrop is a free distribution of tokens to wallet addresses, often promoting a new cryptocurrency.
FUD stands for "Fear, Uncertainty, Doubt," a strategy to spread misinformation or negative news, often in crypto markets.
WAGMI stands for "We're All Gonna Make It," a positive affirmation often used in crypto and online communities.
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