A decentralized exchange trader applies bitcoin’s HODL strategy to forex, maintaining a $1.14 million EUR/USD long position since June 2023.
A trader on the decentralized exchange Ostium has maintained a $1.14 million long position in EUR/USD perpetual futures for 400 days, adopting a bitcoin-style HODL strategy. The position, opened in early June 2023, targets euro strength against the U.S. dollar but has faced an annual holding cost of approximately 2.3% due to rollover fees.
EUR/USD traded near 1.14 at publication, unchanged from June 2023 levels, though it peaked at 1.2082 in January 2024. The bet reflects a niche application of crypto trading tactics in forex, where platforms like Ostium remain a marginal part of the $9 trillion daily global FX market.
Ostium, powered by Nasdaq data, is among a handful of decentralized exchanges offering onchain FX trading, though their market share remains minimal compared to traditional forex venues.