Crypto Trader Brings Bitcoin’s HODL Mindset to a Bold EUR/USD Forex Bet

Trader applies Bitcoin-style HODL strategy to a $1.14M EUR/USD forex position

A trader on Ostium has maintained a $1.14 million long position in EUR/USD perpetual futures for 400 days, bringing the popular crypto HODLing strategy into the traditional foreign exchange market.

The term “HODLing” — crypto slang for holding an asset over an extended period despite market fluctuations — has traditionally been linked mainly to Bitcoin and Ethereum.

However, one trader has now applied the same long-term conviction approach to perpetual futures based on the euro-dollar currency pair through decentralized exchange Ostium, which uses Nasdaq market data.

According to Ostium, the trader has kept a EUR/USD long position worth approximately $1.14 million for 400 days. The trade, which reflects a belief that the euro would strengthen against the U.S. dollar, was opened around June 2025.

At the time of reporting, EUR/USD was trading above 1.14, remaining close to its level from the previous June. The pair had previously climbed to a high of 1.2082 in January.

Blockchain-based foreign exchange trading through platforms such as Ostium, Gains Network, Synthetix, and GMX remains extremely small compared with the global traditional FX market, which processes more than $9 trillion in daily volume.

Despite its limited scale, the 400-day EUR/USD position highlights that some traders are increasingly using decentralized platforms and perpetual contracts to gain leveraged exposure to traditional financial assets.

Ostium said the position generated holding costs of roughly 2.3% annually through predictable rollover fees.

Unlike conventional crypto perpetual futures, which rely on funding rates — recurring payments between long and short traders to keep contract prices aligned with spot markets — Ostium uses volatility-based rollover charges for forex pairs that more closely resemble traditional currency swap costs.

These fees are generally more consistent and easier for traders to anticipate. Whether this example encourages broader adoption of long-term, blockchain-based trading strategies for traditional assets remains to be seen.