Crypto speak: Cryptosis

“Cryptosis” is a word used to describe an insatiable craving for knowledge about cryptocurrency. It sounds like the name of a disease, but here, it’s a friendly one.

Symptoms include forum activity, active conversations about cryptocurrency with friends (which sometimes look like monologues), and minimizing risks when trading.

Do you have these symptoms?)

Crypto speak: Bearwhale

A “bearwhale” is a prominent investor gearing up to sell a significant amount of cryptocurrency. Such a market participant can provoke a substantial price drop if they decide to get rid of their assets.

Bearwhales can manipulate prices because sales of large volumes can provoke panic in crypto markets. As a result, many investors sell their assets after this kind of whale. The emergence of a bearwhale on the market signals an imminent price drop.

76% of people don’t know what Web3 is.

Only 24% of ConsenSys survey participants said they were familiar with the concept of Web3, with 90% of respondents having heard of cryptocurrencies.

Web3 is a dark horse.

Interesting tidbit: While over 90% have heard of cryptocurrencies, only 8% said they have a good understanding of the concept of the internet’s third generation. Just under a third of those surveyed understand more or less Web3.

Why this matters:

You and I are pioneers of the Web3 industry. Anyone who actively explores the world of blockchain now will benefit enormously in the near future.

What better way to kickstart your crypto knowledge than to study our introductory course Getting to Know Cryptocurrency: A Beginner's Guide?

Crypto speak: Floor is lava 🌋

“Floor is lava” is a term used in the crypto community to denote a possible market collapse. Crypto industry participants took the phrase from the game of the same name, in which players imagine the floor is lava and you can’t step on it.

In the context of crypto, the expression indicates unfavorable market conditions. Using it, you can draw attention to the fact that people need to be careful and make informed decisions when investing.

Also, the phrase is often used to defuse a situation. The fact is that the expression eventually acquired a semi-serious character. Sometimes, it is used to ironically note that the participants of the crypto community always need to be on alert (the exact essence of the game).

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