Tiger VC DAO将带你进入Web3的世界。编者为大家整理了一些Web3的常用词汇解析，中英文对照，还不来收藏学习。

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**中英文解析： **

**空投：**空投是指加密货币企业向加密社区的早期成员提供免费硬币和代币，和/或传播对新货币的认识。空投作为被动收入来源在熊市中特别受欢迎， 可以提升交易者的投资组合。

Airdrop: An airdrop is when a cryptocurrency venture grants free coins and tokens either to early members of a crypto community, and/or to spread awareness of the new currency. Airdrops are particularly popular in bear markets as a passive revenue source and can boost traders’ portfolios.

山寨币（<非正式>代币）：“Altcoin”是“alternative”和“coin”这两个词的合并。它指的是比特币和以太币以外的所有加密货币。不同的山寨币有不同的用途。有些可用作货币，有些可能是用于在网络内提供服务的实用代币，或代表所有权或价值从资产转移到代币的证券代币。还有一些可能是“模因硬币”——一种被创造出来的玩笑，并在短时间内流行起来。简而言之，山寨币种类繁多，用途广泛。  

Altcoin: “Altcoin” is a merging of the words “alternative” and “coin.” It refers to all cryptocurrencies other than Bitcoin and Ether. Different altcoins have different uses. Some may be used as currencies, others may be utility tokens for providing services within a network, or security tokens that represent ownership rights or the transfer of value from assets to the token. Still others may be “meme coins” – currencies that are created as a kind of joke and have short bursts of popularity. In short, there are a wide range of altcoins with a wide range of purposes.  

AMM（自动做市商）：流动性池的底层算法，促进两个代币的交换。它消除了对中心化机构（如交易所和其他金融实体）的需求，允许两个用户在没有任何中介促进交易所的情况下交易他们的资产。

AMM (Automated Market Maker):The underlying algorithm of liquidity pools which facilitates the swap of two tokens. It eliminates the need for centralized authorities (like exchanges and other financial entities), allowing two users to transact their assets without any intermediary facilitating the exchange.

套利：交易者使用的一种策略，用于利用交易所之间的微小价格差异。交易者在一个交易所购买代币，然后迅速在另一个交易所以更高的价格出售。

Arbitrage: A strategy used by traders to take advantage of small price discrepancies across exchanges. A trader buys a token on one exchange and quickly sells it on another exchange for a higher price.

卖价：卖家愿意卖出的价格。另请参阅：出价

Ask: The price at which sellers are willing to sell. See also: Bid

**基差：**基差是加密资产的现货价格减去其期货价格。正基差是现货价格高于期货价格，负基差是现货价格低于期货价格。当现货和期货价格不一致时，就会出现“基差风险”。

Basis: Basis is the spot price of a crypto asset minus its futures price. Positive basis is when the spot price is higher than the futures price, and negative basis is when the spot price is lower than the futures price. “Basis risk” occurs when the spot and futures prices don’t line up.

熊市：市场持续下跌 20% 或以上至少两个月。牛市的对面。

Bear Market: A prolonged downtrend in the market of 20 percent or more for at least two months. Opposite of a Bull Market.

**最佳卖价：**这是卖家想要出售资产的最低价格。另请参阅：卖价

Best Ask: This is the lowest price at which sellers want to sell an asset. See also: Ask

**最佳出价：**这是买家想要购买资产的最高价格。另请参阅：出价

Best Bid: This is the highest price at which buyers want to buy an asset. See also: Bid

**出价：**买家愿意购买的价格。另请参阅：询问

Bid: Price at which buyers are willing to buy. See also: Ask

区块链：区块链是存储在计算机网络中的分类帐，所有计算机都通过互联网链接在一起。每台计算机都是这个网络中的一个节点，每个节点都有一份账本。分类帐将其信息保存在数据块中。每个数据块都链接到先前存储的块，从而形成一条链。

Blockchain: A blockchain is a ledger that is stored across a network of computers, all linked together via the internet. Each computer is a node in this network, and each node has a copy of the ledger. The ledger holds its information in blocks of data. Each block of data is linked to the previously stored block, thus forming a chain.

牛市：市场在至少两个月内至少上涨 20% 的长期上升趋势。熊市对面。

Bull Market: A prolonged uptrend in the market of at least 20% over a period of at least two months. Opposite of a Bear Market.

**购买订单：**向交易所发出以特定价格购买资产的指令。另请参阅：卖出订单

Buy Order: An instruction to an exchange to buy an asset at a specific price. See also: Sell Order

**逢低买入：**一种市场择时方法，交易者在市场出现大幅下跌（也称为“修正”）时买入代币。交易者使用这种方法是因为它利用了熊市下跌的价格，以便他们可以如果价格再次上涨，则从上涨中获利。

Buying the Dip: A market timing approach in which traders buy up a coin when the market has a big negative decline (also called a “correction.”) Traders use this approach since it takes advantage of the bear market’s falling prices so that they may profit from the upside if and when prices go up again.

买/卖压力： “压力”是大多数交易者正在做的事情。因此，如果大多数交易者都在买入，他们会认为价格会上涨。这是购买压力。相反，如果大多数交易者都在卖出，那么他们认为价格会下跌。这是卖压。

Buying/Selling Pressure: “Pressure” is what the majority of traders are doing. So, if most traders are buying, they’re thinking that the price is going to go up. This is buying pressure. If, instead, most traders are selling, then they’re thinking that the price is going to go down. This is selling pressure.

**烛台：“**烛台”是加密图表上的红色和绿色条。每一个都代表特定时间段内资产的价格变动。红色蜡烛表示资产价格下跌并收盘低于开盘价。绿色蜡烛表明价格上涨，收盘价高于开盘价。

**Candlestick: “**Candlesticks” are the red and green bars seen on a crypto chart. Each one represents an asset’s price movement during a particular period of time. Red candles indicate that the asset decreased in price and closed below its opening price. Green candles show that the price went up and closed higher than its opening prices.

**投降：**投降是指投资者“恐慌性抛售”。他们对市场失去了信心，开始尽可能快地卖出头寸。大量的卖单接踵而至，价格越来越低。

Capitulation: Capitulation refers to when investors “panic sell.” They have lost faith in the market and start selling their positions as fast as they can. Massive amounts of sell orders ensue, and prices are driven lower and lower.

**中心化交易所（CEX）：**中心化交易所是一个市场，其中交易所本身充当交易者之间的中间人，类似于传统金融市场中的股票交易所。中心化交易所维护一个数字订单簿，其中发布所有公开的买卖订单，并匹配买卖双方。中心化交易所是“托管”的，因为它们持有和转移交易者的资金并处理所有交易。

Centralized Exchange (CEX): A centralized exchange is a marketplace in which the exchange itself functions as a middleman between traders, similar to an equity exchange in a traditional financial market. The centralized exchange maintains a digital order book, which posts all the open buy and sell orders, and matches buyers and sellers. Centralized exchanges are “custodial” in that they hold and transfer traders’ funds and process all transactions.

**币本位：**币本位永续期货以加密货币作为其标的资产，因此其价值来源于它。他们使用加密货币作为抵押品（保证金），并用它来结算。请参阅：反向未来

Coin-margined: Coin-margined perpetual futures have a cryptocurrency as their underlying asset and therefore their value is derived from it. They use the cryptocurrency as the collateral (margin), and are also settled with it. See: Inverse Future

**修正：**修正是指价格下跌 10% 到 20%。更正可以持续几天到三四个月。

Correction: A correction is a drop in price of between 10% and 20%. Corrections can last from a few days to three or four months.

**货币对：**货币对告诉您一种货币（基础货币）相对于另一种货币（报价货币）的价值。在 BTC/USD 的情况下，比特币是基础货币，美元是报价货币。购买货币对时，交易者购买的是基础货币（因此在 BTC/USD 货币对中，交易者使用美元购买 BTC）。卖出货币对时，交易者卖出基础货币获得报价货币（即卖出BTC获得美元）。加密货币市场有两种货币对——加密货币到法定货币和加密货币到加密货币。

Currency Pair: A currency pair tells you how much one currency (the base currency) is worth in terms of another (the quoted currency). In the case of BTC/USD, Bitcoin is the base currency, and the US dollar is the quoted currency. When buying a currency pair, the trader is buying the base currency (so in the BTC/USD pair, the trader is buying BTC with USD). When selling a currency pair, the trader is selling the base currency to get the quoted currency (i.e., selling BTC to get USD). There are two kinds of currency pairs in the crypto market – crypto-to-fiat and crypto-to-crypto.

dApp ——“dApp”是“去中心化应用程序”的缩写。去中心化应用程序是在区块链上运行的数字应用程序，而不是单个计算机系统。这使他们免受中央权威的控制。dApp 非常有用，因为它们在开发方面很灵活，可以保护用户隐私并且不受审查。

dApp – “dApp” is short for “decentralized application.” A decentralized application is a digital application that runs on a blockchain, as opposed to an individual computer system. This keeps them free from being controlled by a central authority. dApps are useful in that they are flexible in terms of development, protect user privacy, and aren’t censored.

**日间交易：**交易者在同一天买卖资产的策略。这个想法是关注一天中的价格波动并迅速采取行动以实现盈利。平均持有时间为几分钟到几小时，交易者每天多次进出交易。

Day Trading: A strategy in which traders buy and sell assets in the same day. The idea is to pay attention to price fluctuations over the course of a day and act quickly on them in order to turn a profit. With an average holding period of minutes to hours, trader are in and out of trades multiple times a day.

**去中心化交易所（DEX）：**去中心化交易所是一个基于点对点模型的市场，交易者在该模型中直接相互交换或交易加密货币。在 DEX 中，没有机构充当中间人来管理资金的保管和/或转移。此外，交易者可以控制自己的钱包密钥和安全性。

Decentralized Exchange (DEX): A decentralized exchange is a marketplace that functions on a peer-to-peer model in which traders swap or trade cryptocurrencies directly with one another. In a DEX, there is no institution serving as a middleman to manage either custody and/or transfer of funds. Additionally, traders maintain control over their own wallet keys and security.

DeFi：“去中心化金融”的缩写。DeFi 是超越 TradFi（传统金融）的进化步骤，因为它消除了中介，允许人们进行点对点交易。

DeFi: Short for “Decentralized Finance.” DeFi is an evolutionary step beyond TradFi (traditional finance) in that it eliminates intermediaries, allowing people to transact peer-to-peer.

衍生品：价值源自其标的资产的证券。衍生品包括期货、期权和指数等。

Derivative: A security whose value is derived from its underlying asset. Derivatives include, among others, futures, options, and indexes.

**衍生品数据： **一种技术分析形式 ，可让您了解市场情绪。通过查看未平仓合约、融资利率和清算等数据点，您可以了解投资者目前承担了多少风险，交易者倾向于哪个市场方向，以及交易者因清算而不得不承担多少损失。

**Derivatives Data: **A form of technical analysis that gives you a picture of the sentiment in the market. By looking at data points like open interest, funding rates, and liquidations, you can get a sense of how much risk investors are currently taking, which market direction traders are tending towards, and how much loss traders had to take due to liquidations.

**定向策略：**定向策略基于交易者对市场（或资产）将如何发展的预测。进行预测的方法可以包括跟踪鲸鱼以构建长期偏见，以及查看对冲基金经理是否在下跌趋势中看涨。使用定向策略时，交易者使用技术分析来寻找风险最小的多头机会。

Directional Strategies: Directional strategies are based on traders’ predictions of how the market (or an asset) will develop. Ways to develop predictions can include things like tracking whales to frame a long-term bias, and seeing if hedge fund managers are bullish despite the downtrend. When using directional strategies, traders use technical analysis to find long opportunities with minimal risk.

**风险敞口：**这是投资者的可投资现金中有多少容易受到特定市场或金融工具风险的影响。从本质上讲，它是投资者可以损失多少。例如，如果交易者只交易加密货币并且拥有所有可投资的现金，那么他们的市场敞口是 100% 的加密货币以及与之相关的所有市场风险。

Exposure: This is how much of an investor’s investable cash is vulnerable to the risks of particular markets or financial instruments. Essentially, it is how much the investor can lose. For example if a trader is only trading cryptocurrencies and has all their investable cash in it, their market exposure is 100% on cryptocurrencies and to all the market risks involved with them.

**法定货币：**法定货币是指由政府支持的货币。货币具有价值，因为政府说它具有价值，并且每个人都接受该价值。因此，它是由法令（即法令）建立的。

Fiat: Fiat refers to a currency backed by a government. The currency has value because the government says it has value, and everyone accepts that value. It is thus established by fiat (i.e., decree).

**基本面分析：**交易者使用基本面分析（FA）来评估资产的“内在价值”。通过查看各种内部和外部因素，交易者试图确定资产是被低估还是被高估。然后，投资者使用该信息战略性地进入或退出投资。FA 利用定量分析（统计数据、报告和其他数据）和定性分析（相关人员的跟踪记录、基础项目的详细信息等）。 

Fundamental Analysis: Fundamental analysis (FA) is used by traders to assess the “intrinsic value” of an asset.  By looking at various internal and external factors, traders try to establish whether the asset is undervalued or overvalued. Investors then use that information to strategically enter or exit an investment. FA draws on both quantitative analysis (statistics, reports, and other data), and qualitative analysis (track records of those involved, details of the underlying projects, and so forth). 

资金费率：资金费率是交易所用来确保永续期货交易价格接近标的现货市场价格的一种机制。

Funding Rate: Funding rates are a mechanism that exchanges use to ensure that perpetual futures trade at a price that is close to the price of the underlying spot markets.

**期货合约：**在预先设定的未来日期以商定的价格购买或出售资产的协议。预设日期是合同的到期日，买方有义务购买和接收资产，卖方必须交付资产。期货合约之所以被称为期货合约，是因为它们有助于防止未来可能影响资产价格的未知后果。期货合约被称为衍生合约，因为它们的价值来自标的资产。它们对自己有价值，因为它们赋予持有人在设定日期以设定价格买卖资产的权利。期货合约通常由对标的资产本身不感兴趣的交易者买卖，而是希望从标的资产价格和期货合约相对于它的价值的波动中赚钱。

Futures Contract: An agreement to buy or sell an asset at an agreed-upon price at a pre-set future date. The pre-set date is the contract’s expiration date, upon which the buyer is obligated to buy and receive the asset, and the seller must deliver the asset. Futures contracts are so-called because they help protect against unseen future consequences that might affect the asset’s price. Futures contracts are known as derivative contracts since their values are derived from the underlying asset. They have value unto themselves because they give the holder the right to buy and sell the asset at the set price at the set date. Futures contracts are often bought and sold by traders who have no interest in the underlying asset itself, but, rather, want to make money off of the fluctuation of the underlying asset’s price and the value of the futures contract relative to it.

Gas： Gas 是在以太坊区块链上进行交易时以以太币（ETH）支付的费用。

Gas: Gas is the fee paid in Ether (ETH) for conducting a transaction on the Ethereum blockchain.

治理代币：治理代币赋予持有人对区块链网络或协议的拟议变更的投票权。

Governance Tokens: Governance tokens entitle holders to voting rights on proposed changes to a blockchain network or protocol.

**对冲：**对冲是一种用于防止价格下跌的策略。例如，确定在某一日期买卖一定数量的商品价格的期货合约是对商品价格下跌的“对冲”。

Hedging: Hedging is a strategy used to protect against downward price movement. For example, a futures contract that establishes a price for a certain amount of a commodity to be bought or sold at a certain date is a “hedge” against a drop in the price of the commodity.

**高频交易（HFT）：**这种交易技术使用算法来分析大量数据，从而找到交易机会，然后进行快速交易。由于 HFT 是计算机驱动的，它比人类的能力要快得多，并且可以在几秒钟内启动大量交易。

High-frequency Trading (HFT): This trading technique uses algorithms to analyze volumes of data so as to find trading opportunities and then make quick trades. Since HFT is computer-driven, it  is much faster than what humans are capable of, and can initiate numerous trades in seconds.

**HODL（持有）：**一个简单的长期投资策略。交易者购买一种加密货币并持有它直到达到他们想要的价格。这个词起源于有人在社交媒体上拼错了“HOLD”。HODL 是加密货币交易者普遍分享的建议，即在市场波动期间保持更长时间的交易，而不是恐慌性抛售。

HODL: A simple long-term investment strategy. A trader buys a cryptocurrency and holds it until it reaches their desired price. The  term originated when someone misspelled ‘HOLD” on social media. HODL is advice commonly shared amongst crypto traders to hold a trade longer and not panic-sell during a market’s volatile periods.

**持有期：**资产买卖之间的时间长度。换句话说，它是交易者在交易中停留的时间。

Holding Period: The length of time between when an asset is bought and sold. Put another way, it is how long a trader has stayed in a trade.

**流入/流出：**当加密货币存入交易所时，即流入。当它从交易所撤出并转移到钱包时，这就是流出。资金外流往往发生在牛市期间。随着加密货币进入钱包，货币变得更加稀缺，这使得它变得更加有价值。当交易者试图减少损失并将其加密货币从钱包转移到交易所时，资金流入往往发生在熊市开始时。随着交易所加密货币的增加，供应量增加，加密货币的价格下降。

Inflow/Outflow: When cryptocurrency is being deposited on exchanges, that is inflow. When it is being withdrawn from exchanges and moved to wallets, that is outflow. Outflow tends to happen during bull markets. As the cryptocurrency moves into wallets, the currency becomes more scarce, which makes it become even more valuable. Inflow tends to happen at the start of bear markets when traders try to reduce their losses and move their cryptocurrency onto the exchanges from their wallets. With the increase of the cryptocurrency on the exchange, there is more supply, and the price of the cryptocurrency decreases.

**Interledger 协议：**一组规则，用于管理区块链账本中的计算机如何通过不同的网络发送资金。

Interledger Protocol: A set of rules governing how computers in blockchain ledgers send money through different networks.

**反向期货：**永续期货合约结算有时被称为“反向期货合约”，因为加密货币被用作基础货币，因此以该货币处理结算，而不是以美元结算。

Inverse Future: Perpetual futures contract settlements are sometimes referred to as “inverse futures contracts” because the cryptocurrency is being used as the base currency, and therefore settlement is handled in that currency, as opposed to being settled in USD.

**密钥：**访问、存储、发送和接收加密货币需要密钥。有两种密钥——公共的和私有的。公钥类似于银行帐号。它只是提供了一个地址——任何人都没有使用它访问账户资金的风险。然而，私钥相当于银行账户的密码。它是必须保持安全的私钥。两种类型的密钥都保存在加密钱包中。

Key: Keys are needed to access, store, send, and receive cryptocurrency. There are two kinds of key – public and private. A public key is similar to a bank account number. It simply provides an address – there is no risk of anyone accessing an account’s money with it. A private key, however, is comparable to a bank account’s password. It is the private key that must be kept secure. Both types of key are kept in crypto wallets.

杠杆：杠杆是交易中使用的一种机制，涉及借入资金以增加您的购买力。

Leverage: Leverage is a mechanism used in trading which involves borrowing funds to increase your purchasing power.

**限价订单：**限价订单是一种发送到交易所的订单，用于以指定价格或更好的价格买卖资产。限价买入指令以限价或更低价格执行，而限价卖出指令则以限价或更高价格执行。

Limit Order: A limit order is a type of order sent to the exchange to buy or sell an asset at a specified price or better. A Buy Limit Order is executed at the limit price or lower, whereas a Sell Limit Order is executed at the limit price or higher.

**清算：**如果交易者在杠杆头寸上损失了全部或部分初始保证金，那么加密货币交易所可能会关闭该头寸。这是强制平仓。从本质上讲，交易者未能维持持仓所需的资金。

Liquidation: If a trader loses all or part of their initial margin on a leveraged position, then the crypto exchange may close that position. This is a forced liquidation. Essentially the trader has failed to sustain the funds needed to keep the position open.

**流动性：**流动性是指将一种资产转换为另一种资产而不对其价格产生任何影响的容易程度。从本质上讲，它是人们购买或出售资产的难易程度。例如，现金是最具流动性的资产，因为它可以通过购买这些资产轻松转换为不同的资产。像稀有文物或房地产之类的东西流动性不是很好（它们是“非流动性的”），因为它们可能不容易出售。

Liquidity: Liquidity is how easy it is to convert one asset into another without there being any impact on its price. Essentially, it is how easily one can buy or sell the asset. For example, cash is the most liquid asset since it can easily be converted into different assets by buying those assets. Something like a rare artifact or real estate would not be very liquid (they are “illiquid”) because they may not be easy to sell.

流动性挖矿：当用户将代币借给去中心化交易所以增加其流动性时，用户将获得代币奖励或一定比例的交易费用或代币。

Liquidity Mining: When users lend tokens to a decentralized exchange so the exchange can increase its liquidity, the users get token rewards or a percentage of trading fees or tokens.

流动性协议：通过锁定在智能合约中的数字资产为协议提供流动性。另见：AMM

Liquidity Protocol: Provides liquidity to protocols through digital assets locked in smart contracts. See also: AMM

多头：“多头”意味着进入交易头寸，希望资产价格上涨并从中受益。短的对面。

Long: Going “long” means to enter a trading position in the hopes for, and benefits from, an increase in the price of an asset. Opposite of Short.

**保证金：**保证金是交易者放下的抵押品，以便他们可以从交易所借钱用于交易。借来的钱使交易者可以将交易置于比自己的钱更高的水平，从而赋予他们杠杆作用。

Margin: Margin is the collateral a trader puts down so that they can borrow money from an exchange to use toward a trade. The borrowed money allows a trader to place trades at a higher level than they could with their own money, thus giving them leverage.

**市场微观结构分析：**一种技术分析，通过研究交易机制以及它们如何影响价格形成过程和交易者行为等事物来洞察市场动能和情绪。

Market Microstructure Analysis: A kind of technical analysis that provides insight into market momentum and sentiment by studying such things as trading mechanisms and how they impact the price formation process and trader behavior.

**市价单：**发送到交易所以当前市场价格买卖资产的订单。

Market Order: An order sent to an exchange to buy or sell an asset at the current market price.

**市场情绪数据：**用于技术分析，这是有关投资者对一般市场或特定资产的更广泛情绪感知的信息。了解市场对资产的总体基调需要分析社交媒体渠道、行业新闻、利基论坛上的活动和 Google 搜索。用于收集信息的特定数据点是社交参与度、垃圾邮件数量、加密货币的唯一提及、整体情绪（看涨/看跌）、GitHub 上的开发人员活动和 Google 搜索量。

Market Sentiment Data: Used in technical analysis, this is information about investors’ broader emotional perception towards the general market or a specific asset. Getting a sense of a market’s general tone about an asset entails analyzing social media channels, industry news, activity on niche forums, and Google Search. Specific data points used for gleaning information are social engagement, spam volume, unique mentions of a cryptocurrency, overall sentiment (bullish/bearish), developer activity on GitHub, and Google Search volume.

**市场时机：**一种策略，需要在进入或退出交易之前制定一个计算风险和回报水平的计划，并使用这些水平作为指导以 最佳价格进入/退出头寸，无论是盈利还是亏损。

Market Timing: A strategy that entails making a plan for calculating risk and reward levels prior to entering or exiting a trade, and using those levels as a guide to enter/exit the position at the best price, be it at profit or loss.

**匹配引擎：**存储交易者订单并匹配出价和询价的数字交易所的一部分。这让交易者可以以市场价格买卖。匹配引擎根据订单是出价还是要价以及时间和价格来组织订单。当引擎发现要价和出价之间的相关性时，它会执行交易。

Matching Engine: The part of a digital exchange that stores traders’ orders and matches bids and asks. This lets traders buy and sell at market prices. The matching engine organizes orders by whether or not they are bids or asks, as well as by timing and price. When the engine finds the correlation between asks and bids, it executes a deal.

**中长期投资：**交易者在数周至数月内持有交易的方法。这种方法最适合熟悉投资组合管理和再平衡的长期投资者。与投资组合管理一样，交易者根据上述几周到几个月的持有期计算其投资的风险回报率和资产配置。

Mid to Long-Term Investing: A method in which the trader holds their trades over a period of weeks to months. This approach works best for long-term investors who are familiar with portfolio management and rebalancing. As in portfolio management, the trader calculates their risk-reward ratio and asset allocation on investments based on holding periods of the aforementioned several weeks to months.

**矿业：**挖矿是某些加密货币生产新硬币和验证交易的方式。这个过程需要利用一个巨大的、分散的计算机网络。网络中的计算机竞争第一个验证一组称为“块”的交易，并将该块添加到区块链中。他们通过解决极其复杂的数学问题来做到这一点，而这样做的计算机不仅昂贵且复杂，而且还需要大量的处理能力和电力。这些计算机的所有者——矿工——通过收到加密货币的付款以及交易费用来补偿所有这些费用。本质上，矿工保持区块链的运行和安全，区块链用硬币奖励矿工，而支付让矿工对区块链的持续维护感兴趣。

Mining: Mining is how certain cryptocurrencies produce new coins and verify transactions. The process entails drawing on an immense, decentralized computer network. The computers in the network compete to be the first to validate a group of transactions called a “block,” and to add that block to the blockchain. They do this by solving extremely complicated mathematical problems, and the computers doing this are not only expensive and sophisticated, but also use a lot of processing power and electricity. The owners of these computers – the miners – are compensated for all these expenses by receiving payment in the cryptocurrency, as well as transaction fees. Essentially, miners keep the blockchain running and secure, the blockchain rewards the miners with coins, and the payments are what keep the miners interested in the ongoing maintenance of the blockchain.

**动量交易：**交易者利用市场波动和价格短期波动的策略。动量交易者在认为上升趋势开始时买入，并在价格下跌前的最高点卖出。

Momentum Trading: A strategy where traders take advantage of market volatility and short-term fluctuations in price. Momentum traders buy when they think an uptrend is starting and sell at the highest point before the price drops.

Multisig Wallet：一种使用多重签名地址操作的加密钱包，需要多个签名才能批准任何交易。被交易所、经纪人和加密公司用来提供安全性。

Multisig Wallet: A crypto wallet that operates with multi-signature addresses, requiring more than one signature to approve any transaction. Used by exchanges, brokers, and crypto companies to provide security.

基于新闻的交易：基于新闻的交易需要根据新闻以及市场对该新闻的反应来做出行动。

News-based Trading: News-based trading entails making your moves based on news and how the market reacts to that news.

**链上分析：**一种技术分析形式，可以深入了解区块链网络中正在发生的事情。通过链上分析，交易者可以查看区块链上的利用率、交易活动和资产分布。使用的典型指标是活跃钱包、交易量、鲸鱼移动、矿工和交易所流入或流出、智能合约交互，以及网络参与者的已实现和未实现盈亏。

On-chain Analysis: A form of technical analysis that gives insight into what’s happening in a blockchain network. With on-chain analysis, traders look at utilization, transactional activity, and asset distribution on a blockchain. The typical metrics used are active wallets, transaction volume, whale movements, miner and exchange inflows or outflows, smart contract interactions, as well as realized and unrealized profit or loss of network participants.

**未平仓合约：**未平仓合约是未结算的、未结算的衍生品合约的数量。它代表买入或卖出合约的总数（不是两者的总和）。如果未平仓头寸增加，则意味着资金正在进入市场。如果未平仓头寸下降，则资金正在退出市场。

Open Interest: Open interest is the number of outstanding, non-settled derivative contracts. It represents the total number of bought or sold contracts (not the sum of both). If open interest is increasing, it means money is coming into the market. If open interest is declining, then money is exiting the market.

甲骨文：甲骨文是将区块链与链下数据连接起来的实体，允许相关的智能合约在指定的数据输入/输出处执行。本质上，预言机允许链下和链上数据连接和交互。

Oracle: Oracles are entities that connect blockchains with off-chain data, allowing the associated smart contract(s) to execute at specified data inputs/outputs. Essentially, oracles allow off-chain and on-chain data to connect and interact.

**订单簿：**交易所对特定资产的买卖订单的电子清单。订单簿按价格水平组织，并通过显示未完成的订单实时显示买卖双方之间的关系。

Order Book: An electronic list of an exchange’s buy and sell orders for a particular asset. Order books are organized by price level, and show the relationships between buyers and sellers in real time by showing the outstanding orders.

订单簿分析：*** *一种技术分析 ， 可为交易者提供有关市场动能和情绪的洞察。订单簿分析有助于了解特定交易对的当前市场活动。交易者通常通过查看交易量、买卖价差和订单深度来了解当前的市场结构和活动，而查看订单流可以让交易者识别买卖压力。

Order Book Analysis:*** *A kind of technical analysis that provides traders with insights into market momentum and sentiment. Order book analysis helps with understanding the current market activity of a specific trading pair. Traders usually look at trading volume, bid-ask spread, and order book depth to get a sense of current market structure and activity, while looking at order flow allows traders to identify buy and sell pressure.

**订单簿深度：**订单簿深度是订单簿中给定时间可用的价格水平数。深度越深，交易者可用于平仓出价或卖出价的价格水平数量就越多。

Order Book Depth: Order book depth is the number of price levels available at a given time in the order book. The deeper the depth, the greater the number of price levels available for traders to close their bids or asks.

**订单流：**订单流是读取订单簿中的买卖需求。对于想要每次以几个点进行大量短期交易的黄牛来说，这很有用。

Order Flow: Order flow is reading the buy and sell demand in the order book. It’s useful for scalpers who want to enter a lot of short-term trades for a few points each time.

**挂单：**等待其参数满足触发的订单。

Pending Order: An order waiting for its parameters to be met to trigger.

永续期货：在未来某个时间点以预定价格买卖资产的协议。与传统金融市场不同，永续合约没有指定的到期日。这允许交易者无限期地持有合约。

Perpetual Futures: An agreement to buy or sell an asset at a predetermined price at some point in the future. Unlike in traditional financial markets, perpetual futures do not have specified expiry dates. This allows a trader to hold a contract for an indefinite period of time.

PnL： “损益”的缩写。它是您投资组合的综合数据，反映了您当前的财务状况。

PnL: An abbreviation for “profit and loss.” It’s the consolidated data of your portfolio which reflects your current financial position.

**投资组合管理：**投资组合管理是组合和维护一系列投资以满足个人的财务目标。积极的投资组合管理需要战略性地买卖，以期击败市场。被动投资组合管理基本上涉及复制指数的构成以匹配市场。

Portfolio Management: Portfolio management is assembling and maintaining a collection of investments to meet one’s financial goals. Active portfolio management entails strategically buying and selling in the hopes of beating the market. Passive portfolio management involves essentially copying the makeup of an index in an effort to match the market.

头寸：交易者在使用买单进行购买时拥有的资产数量。

Position: The amount of an asset a trader owns upon making a purchase with a buy order.

**头寸管理：**头寸管理是关于评估当前持有的交易（即头寸）、观察市场并决定最佳行动方案。交易者使用头寸管理来改善其不同资产头寸的风险管理，并建立连贯的进场和退出策略。

Position Management: Position management is about evaluating the trades currently held (i.e., positions), observing the market, and deciding upon the best course of action. Position management is used by traders to improve the risk management of their positions across different assets and to build coherent entry and exit strategies.

**头寸规模：**交易者在特定交易（或投资组合）中拥有的金额，以交易者总金额的百分比表示。

Position Size: The amount of money a trader has in a particular trade (or portfolio) represented as a percentage of the trader’s total amount of money.

**头寸规模：**交易者使用头寸规模来确定要进行的交易的规模。它可以帮助交易者避免将过多的现金投入到亏损的交易中，而将过少的资金分配给获胜的交易。它还可以帮助交易者弄清楚他们可以购买多少资产，同时保持在风险参数范围内以实现利润最大化。此外，适当的头寸规模有助于管理投资组合风险并保护许多新交易者免受重大损失。经验法则是每笔交易使用的可投资现金不超过 5%。

Position Sizing: Position sizing is used by traders to determine the size of a trade to take on. It helps traders avoid devoting too much cash to losing trades and allocating too little capital to winning ones. It also helps traders to figure out how many assets they can buy while staying within risk parameters to maximize profits. Additionally, proper position sizing helps to manage portfolio risk and protects many new traders from substantial losses. The rule of thumb is not to use more than 5% of investable cash per trade.

头寸交易：头寸交易要求寻找趋势。交易者将趋势归零，并找到可以从该趋势中增长的投资。然后他们购买投资并持有，直到趋势达到顶峰。这种技术需要提前确定正确的进场和离场价格，并使用止损单来管理风险。  

Position Trading: Position trading calls for finding trends to follow. Traders zero in on a trend and find an investment that can grow from that trend. They then purchase the investment and hold it until the trend reaches its apex. This technique requires figuring out in advance the right entry and exit prices, and employs stop-loss orders to manage risk.  

**协议：**协议是确定计算机如何共享信息的一组规则。

Protocol: Protocol is a set of rules that establish how computers share information.

基于区间的交易：基于区间的交易需要识别资产价格变动中的支撑和阻力区域，然后根据该区间发生的情况进行交易。

Range-based Trading: Range-based trading entails identifying support and resistance zones in an asset’s price movement and then trading depending on what happens in this range.

**再平衡：**再平衡是定期买卖资产，以重新分配交易者投资组合中有多少投资于特定资产。这是一种管理风险的策略。这通常意味着确保混合多种资产，以免过度暴露于任何特定资产。

Rebalancing: Rebalancing is the periodic buying and selling of assets to redistribute how much of a trader’s portfolio is invested in particular assets. It is a strategy for managing risk. It often means ensuring that there is a mix of diverse assets so that there isn’t overexposure to any specific asset.

**剥头皮：**一种专注于从小幅价格波动中赚钱的技术。通过剥头皮交易，交易者一遍又一遍地进行小动作。在很短的时间内，交易者可以进行许多交易，同时寻找微小的价格变化和市场低效率。这是一种短期策略，建立在这样的理念之上：微小而频繁的收益可以带来巨大的回报。

Scalping: A technique that concentrates on making money from small price swings. With scalping, traders make small moves over and over. In a short time, traders can conduct many transactions while searching for minute price changes and market inefficiencies. It’s a short-term strategy built on the idea that making tiny, frequent gains can result in big returns.

**卖单：**当交易者在订单簿中下达卖单时，他们是在告诉交易所他们想以特定价格（或更高，如果可能的话）出售资产。与买单相反。

Sell Order: When a trader places a sell order in an order book, they are telling the exchange that they want to sell an asset at a certain price (or higher, if possible). Opposite of Buy Order.

空头：“空头”意味着进入交易头寸，希望资产价格下跌并从中受益。龙对面。

Short: Going “short” means to enter a trading position in the hopes for, and benefits from, a decrease in the price of an asset. Opposite of Long.

滑点：滑点是订单的预期价格与订单实际成交时的价格之间的差异。由于加密货币的波动性很大，因此在流动性较低的交易所经常会出现滑点。流动性在滑点中起着重要作用，因为更多的流动性会减少滑点。

Slippage: Slippage is the difference between an order’s expected price and the price when the order is actually filled. Since crypto is highly volatile, slippage occurs regularly on less liquid exchanges. Liquidity plays a major role in slippage, as more liquidity decreases slippage.

**智能合约：**智能合约是数字化的、自动执行的合约，其中协议的条款（例如，一方提供什么、另一方接受的细节等）被写入代码中。协议/代码通过分布式、去中心化的区块链网络发送，并且变得可追踪且不可逆转。智能机制允许匿名方在不依赖法律系统或外部中央机构的情况下进行交易。

Smart Contract: Smart contracts are digital, self-executing contracts in which the terms of the agreement (e.g. what one party is offering, the details of the other party accepting, etc.) are written into the code. The agreement/code are sent across a distributed, decentralized blockchain network, and it becomes trackable and irreversible. Smart mechanisms allow for anonymous parties to make transactions without relying on a legal system or an external, central authority.

**点差：**点差是资产报价的最高买入价和最低卖出价之间的差值。

Spread: Spread is the difference between the highest bid and the lowest ask offer prices quoted for an asset.

稳定币： 一种加密货币，其价值与黄金或美元等稳定资产挂钩。稳定币背后的想法是，它可以作为比特币 (BTC) 等波动性加密货币的替代品，因此可以作为一种更适合普通交易的日常数字货币形式。 

Stablecoin: A cryptocurrency that has its value tied to a stable asset such as gold or the US dollar. The idea behind a stablecoin is for it to serve as an alternative to move volatile cryptocurrencies like Bitcoin (BTC), and therefore be useful as a day-to-day form of digital money that is better for common transactions. 

止损订单： 当市场出现意外转机且交易者想要限制损失时，设置为触发以交易者期望的价格平仓交易的挂单。

Stop-loss Order:  A pending order set to trigger to close out a trade at a trader’s desired price when the markets take an unexpected turn and the trader wants to limit losses.

**支撑位和阻力位：**这些是用于市场时机的技术分析概念。它们是资产的预定价格水平，价格往往会停止和反转。当价格多次触及而没有突破该水平时，就会达到这些水平。支撑是价格停止下跌并再次上涨的点。阻力是价格停止上涨并再次回落的地方。支撑位是多头头寸的好入口，阻力位是空头头寸的好入口。

Support and Resistance Levels: These are technical analysis concepts used in market timing. They are predetermined price levels of an asset at which the price will tend to stop and reverse. These levels are met when multiple touches of a price have happened without a breakthrough of the level. Support is the point at which the price stops falling and rises again. Resistance is where the price stops going up and drops back down again. Support levels are good entries for long positions and resistance levels are good entries for short positions.

**波段交易：**这种交易技术旨在从短期价格波动中获利，因此得名。为简单起见，此处将“短期”定义为从数小时到数天的时间段。波段交易者找出硬币的价格可能走向何方。然后，他们开始交易，一旦价格（理想情况下）移动到预测价格，他们就会获利。

Swing Trading: This trading technique is about trying to profit from short-term price swings, hence its name. For simplicity’s sake, “short-term” is defined here as a time period ranging from hours to days.  Swing traders figure out where a coin’s price is probably going. Then, they open a trade, and, once the price has (ideally) moved to the predicted price, they snag the profit.

止盈订单– 设置为以交易者期望的价格触发以获利平仓的挂单。

Take-profit Order – A pending order set to trigger at thet trader’s desired price to close the position with a profit.

**技术分析：**根据历史数据和表现分析证券价格走势的过程。

Technical Analysis: The process of analyzing a security’s price movement based on its historical data and performance.

**代币：**一般来说，“代币”是一种加密资产或冷冻货币。但是，它可以具有其他几种含义。例如，虽然比特币和以太币严格来说是代币，但通常当人们使用“代币”一词时，它们指的是比特币和以太币以外的加密货币。“代币”的另一个含义是一种加密货币，它不像比特币和以太币那样拥有自己的本地区块链，因此可以在其他人的区块链上运行。除了用作加密货币之外，代币还有其他用途。它们可以作为去中心化金融（DeFi）平台上的货币和/或抵押品，作为对 DeFi 项目投资者的激励奖励，表示数字资产（这称为不可替代代币，或 NFT）的所有权，或作为加密项目（称为治理令牌）投票权的标志，以及其他用途。

Token: Generally speaking, a “token” is a cryptoasset or cryotocurrency. However, it can have several other meanings. For example, although Bitcoin and Ether are, strictly speaking, tokens, usually when one uses the term “token,” they mean cryptocurrencies other than Bitcoin and Ether. Another meaning of “token” is a cryptocurrency that does not have its own native blockchain the way Bitcoin and Ether do, and thus runs on someone else’s blockchain. Beyond working as a cryptocurrency, tokens can have other uses. They can serve as currency and/or collateral on a decentralized finance (DeFi) platform, function as incentive rewards for investors in a DeFi project, signify ownership of a digital asset (this is called a non-fungible token, or NFT), or function as a signifier of voting rights on a crypto project (known as a governance token), among other uses.

通证经济学： “通证经济学”是由“通证”和“经济学”合并而成的词。它是指影响代币使用和价值的因素。这包括代币的创建和分配方式、供需、实用性、代币持有者可能获得的任何激励措施等等。研究代币经济学是一种了解加密货币从哪里获得价值以及该价值是否可能随时间增加或减少的方法。

Tokenomics: “Tokenomics” is a word formed from the merging of “token” and “economics.” It refers to the factors that influence a token’s use and value. This includes how the token is created and distributed, the supply and demand, its utility, any incentives there might be for token holders, and so forth. Studying tokenomics is a way to understand where a cryptocurrency is getting its value from and whether that value is likely to increase or decrease over time.

交易：投机资产价格以获利。

Trading: Speculation on an asset’s price to make a profit.

**交易频率：**交易频率是在特定时间段内执行的交易数量。

Trading Frequency: Trading frequency is how many trades are executed in a particular period of time.

**追踪止损：**追踪止损是交易者用来保护他们的收益并在交易没有朝着他们想要的方向发展时限制他们的损失的工具。基本上，交易者下的订单“跟踪”市场价格预先确定的数量。只要价格朝着交易者想要的方向发展，它就会一直跟随价格。但是，如果价格开始朝不希望的方向移动，则追踪止损将不再跟随，而是保持在原位。如果市场价格向追踪止损移动一定量（或实际触及追踪止损，取决于交易者预设的内容），则追踪止损订单被激活并以市场价格执行交易。

Trailing Stop: A trailing stop is a tool traders use to protect their gains and limit their losses when a trade doesn’t go in the direction they want. Basically, a trader places an order that “trails” behind the market price by pre-determined amount. It keeps following the price as long as the price is going in the direction the trader wants. But, if the price starts to move in the unwanted direction, the trailing stop no longer follows, but rather stays in place. If the market price either moves toward the trailing stop by a certain amount (or, actually hits the trailing stop, depending on what the trader has pre-set), then the trailing stop order is activated and the trade is executed at market price.

交易对：见货币对

Trading Pair: See Currency Pair

TVL : Total Value Locked 的首字母缩写词，它是锁定在特定协议中的所有资产的总和。

TVL: An acronym for Total Value Locked, which is the sum of all assets locked in a particular protocol.

**钱包：**加密货币钱包存储您的公钥和私钥，使您能够访问您的加密货币，以及发送、接收和使用它。钱包可以是物理设备（通常看起来像 USB 驱动器）或数字应用程序。

Wallet: A cryptocurrency wallet stores your public and private keys and enables you to access your crypto, as well as to send, receive, and spend it. Wallets can be physical devices (that often look like USB drives) or digital applications.

鲸鱼：持有或交易大量加密货币的个人或实体。持有量可能足够大，足以让鲸鱼有能力影响货币的价格。

Whale: A person(s) or entity who holds or trades a large amount of cryptocurrency. The holdings are potentially large enough to give the whale the ability to affect the currency’s price.