What is the meaning of mom in the context of cryptocurrency?

3 answers

• Dec 27, 2021 · 3 years ago
  In the cryptocurrency world, 'mom' stands for 'Market on Market' order. It is a type of order where a trader buys or sells a cryptocurrency at the current market price. This type of order is commonly used when a trader wants to execute a trade quickly without setting a specific price. It allows traders to take advantage of the current market conditions and liquidity. So, when someone mentions 'mom' in the context of cryptocurrency, they are referring to this type of order.
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• Dec 27, 2021 · 3 years ago
  When it comes to cryptocurrency, 'mom' has a different meaning. It actually stands for 'Momentum' trading strategy. This strategy involves buying or selling cryptocurrencies based on their recent price movements. Traders who use the 'mom' strategy aim to profit from short-term price trends. They look for cryptocurrencies that have shown strong upward or downward momentum and try to capitalize on these trends. So, in the context of cryptocurrency, 'mom' refers to the momentum trading strategy.
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• Dec 27, 2021 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, uses the term 'mom' to refer to 'Market on Market' orders. This type of order allows traders to quickly buy or sell cryptocurrencies at the current market price. It is a convenient option for traders who want to execute trades instantly without setting a specific price. With 'mom' orders, traders can take advantage of the market conditions and liquidity to make timely trades. So, if you come across the term 'mom' on BYDFi or any other cryptocurrency exchange, it is likely referring to 'Market on Market' orders.
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