What is Degen

Degen is the abbreviation of Degenerate, often used to refer to those who participate in high-risk, speculative Crypto trading or investing without proper research and due diligence.

The origin of the term Degen can be traced back to sports gambling, referring to gamblers who lack the necessary knowledge or expertise to support their bets but invest large sums of money. In Crypto, they are seen as those who do not pay attention to price indicators, tokenomics, fundamental analysis, or technical analysis, and may make investment decisions based solely on surface factors such as the Crypto asset’s logo or an attractive slogan.

CoinGecko describes Degen as a group of people who “buy assets not because they see value, but because they believe others will join after them and speculate on price fluctuations.” DeFi Degens are always seeking the highest returns and highest risks, and they will not hesitate to invest in obvious Ponzi schemes and crypto pump & dump scams, planning to sell before the dump occurs.

Although the term Degen carries a negative connotation, many members of the crypto community have come to see it as a symbol of honor, indicating their willingness to take risks and embrace the industry. Despite the potential for losses, Degens are often regarded as passionate and committed members of the community. They actively participate by sharing ideas, feedback, and support, helping to build the community. Crypto’s Web3 credit tool Degen Score is a typical example; users with higher Degen scores are often considered the most active participants in the community. $DUSK **$DUCK **