The term “HODLing,” crypto slang for buying and holding an asset over a long period of time, has historically been associated almost exclusively with Bitcoin. and Ether (ETH).
A trader has now applied the same long-term approach to perpetual futures linked to the euro-dollar pair (EUR/USD) listed on the decentralized exchange (DEX) Ostium, which is powered by Nasdaq data.
Ostrium said on Tuesday that a trader had placed a long position in EUR/USD worth $1,139,490 for 400 days. The bullish bet was opened in early June 2025 in anticipation of the euro strengthening against the US dollar. At the time of writing EUR/USD was trading above 1.14, which is largely unchanged from where it was in June last year, but rose to 1.2082 in January this year.
Onchain FX trading, offered by platforms such as Ostium, Gains Network, Synthetix, GMX and others, is a very small part of the global traditional FX market, which has a daily trading volume of over $9 trillion.
Still, this single 400-day HODL on EUR/USD shows that some traders are comfortable using blockchain rails and perpetual contracts to take leveraged positions on major traditional assets.