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Web3 glossary


A bagholder is an individual who continues to hold onto their investment (bag of tokens) even though it has been losing its value and is now essentially worthless.

Bear Market

A bear market occurs when there is a sustained decline in crypto prices over a long period of time. This is usually marked by a drop of at least 20% from an asset’s previous high. After this, there is still a steady decline in prices. This is accompanied by weak macroeconomic conditions as well as a pessimistic outlook by investors. A bull market is the exact opposite.


An investor who is expecting prices to decline. An extreme type of bear is a permabear who consistently expects prices to fall regardless of economic conditions.


Bitcoin is the first digital cryptocurrency that allows for peer-to-peer transactions without the need for an intermediary. It is built on a decentralized network using blockchain technology, which records all transactions and ensures their authenticity. Bitcoin’s supply is limited to 21 million bitcoins.

Bitcoin Halving

Bitcoin Halving refers to the block rewards being given to Bitcoin miners being halved. This occurs roughly every four years after every 210,000 blocks have been mined. The last halving happened on May 11, 2020 which reduced the block rewards to 6.25 bitcoins. The next halving is expected to happen some time in April, 2024 which will reduce the number of bitcoins per block to 3.125.

Bitcoin Maxi

A bitcoin maxi (maximalist) refers to an individual who believes that Bitcoin is superior to all other cryptocurrencies. Therefore, they reject altcoins and believe that BTC is the only cryptocurrency worth buying. One of the most well-known bitcoin maxis is Michael Saylor.

Bitcoin Season

Bitcoin season is a period where money flows out of altcoins into Bitcoin. Bitcoin has a rapid price increase relative to other altcoins.


Blocks are the foundation of a blockchain. You can think of them as the safekeepers of information in a blockchain. Each block, except the genesis block, contains transaction data which cannot be altered and points to the previous block in the blockchain.

Block Explorer

A blockchain explorer is a software that is used for visualizing blocks, transactions and other network metrics such as transaction fees, hashrates, block size, block difficulty and the like. 

If you’d like to familiarize yourself with block explorers, you can visit some of the well known ones such as Blockchair, Etherscan, Viewblock.


A blockchain is a digitally distributed, decentralized and public ledger that is stored across the nodes of a network.

Blue Chip

In general, the term blue chip refers to those companies or stocks that are considered to be reliable investments due to their long history of profitability and reliability.

In the cryptocurrency space, it refers to well established cryptocurrencies such as Bitcoin and Ethereum. 

In the NFT space, it refers to those NFT collections that are highly valuable, sought after and have a proven record of high volumes such as CryptoPunks and BAYC.

Bull Market

A bull market occurs when there is a sustained increase in crypto prices over a long period of time. This is accompanied by strong macroeconomic conditions as well as positive investor sentiment. A bear market is the exact opposite.


An investor who is expecting prices to rise. An extreme type of bear is a permabull who consistently expects prices to rise regardless of economic conditions.

Burn Mechanism

It is a deflationary process in which tokens are permanently taken out of circulation. In turn, this decreases the total supply of the token and if everything else remains the same, should lead to an increase in its value.

Buy The Dip (BTD)

Buying the dip refers to buying a token after its price has dropped as an investor believes it is undervalued and will bounce back.