Crypto trader extends HODL strategy into a $1.14M EUR/USD forex position
A trader on Ostium has maintained a $1.14 million bullish position on EUR/USD perpetual futures for 400 days, bringing a Bitcoin-inspired HODL approach into the world of foreign exchange trading.
“HODLing,” a term popularized in crypto circles, refers to holding an asset for the long term instead of reacting to short-term market volatility. The strategy has traditionally been associated with Bitcoin and Ethereum investors.
In a new example of cross-market adoption, a trader has used the same long-term mindset for perpetual futures linked to the euro-dollar currency pair on the decentralized exchange Ostium, which uses Nasdaq-powered market data.
According to Ostium, the trader opened the EUR/USD long position around June 2025 and has kept the trade active for 400 days, with a current value of about $1.14 million. The position reflects a belief that the euro will appreciate against the U.S. dollar.
EUR/USD was trading above 1.14 at the time of reporting, staying close to its level from June of the previous year. The currency pair had climbed as high as 1.2082 in January before retreating.
Although blockchain-based forex platforms such as Ostium, Gains Network, Synthetix, and GMX are expanding, they still represent only a small portion of the global FX market, which records more than $9 trillion in daily trading activity.
Despite its limited size, the trade highlights growing interest among some investors in using decentralized platforms and perpetual contracts to access leveraged exposure to traditional markets.
Ostium said the position has accumulated holding costs of approximately 2.3% annually through its rollover fee system.
Unlike crypto perpetual contracts, which rely on funding rates where long and short traders exchange periodic payments to keep prices aligned with spot markets, Ostium uses volatility-based rollover fees for forex pairs. The model is designed to work more similarly to traditional forex swap and rollover mechanisms.
These costs tend to be more predictable, allowing traders to better estimate the expense of maintaining long-term positions. Whether this type of blockchain-based HODL strategy gains wider adoption in traditional asset markets remains to be seen.
