Crypto World
Bitcoin crashed below $62,000. What happened
Bitcoin has been in freefall since June 2, 2026. What started as a midday flash crash that knocked the price from about $71,765 to $67,895 has turned into a three-day slide.
Summary
- Bitcoin fell below $62,000 after a three-day selloff that erased months of gains and triggered roughly $1.8 billion in liquidations.
- Data showed leverage had climbed to levels last seen before the October 2025 crash, leaving the market vulnerable to a liquidation cascade.
- Analysts pointed to weakening Bitcoin demand, persistent ETF outflows, and broader risk aversion as factors that kept prices under pressure after the initial drop.
By June 4, Bitcoin had fallen to $61,655, its lowest level in months and more than 50% below the October 2025 all-time high near $126,200.
The selloff has wiped out roughly $1.8 billion in leveraged positions, flushed more than 272,000 traders, and dragged Bitcoin below Strategy’s average purchase price for the first time since late 2023.
Long positions, the bets on prices rising, made up nearly nine-tenths of the damage. The drop looked sudden, the kind of out-of-nowhere move that sends everyone hunting for a single villain. It was not out of nowhere.
The on-chain data had been flashing warnings for days, the leverage was sitting at levels last seen right before the previous major crash, and the spark that lit the fuse was almost comically small.
This is what actually happened, in order.
The setup: leverage at crash levels
The most important fact about this crash is that the market was primed for it before anything happened. The crash was not caused by the trigger. It was caused by the conditions, and the trigger just lit them.
Before the drop, the derivatives market was dangerously stretched. Bitcoin’s futures open interest leverage ratio, a gauge of how much borrowed money is sitting in the futures market relative to Bitcoin’s size, had climbed to 2.63% on June 2. The perpetual-futures version reached 2.48%. Both were the highest readings since October 6, 2025.
That date should make anyone who trades crypto nervous, because October 6, 2025 was right before the “Black Friday” crash, one of the most violent liquidation events of the last cycle. In other words, the amount of leverage in the system on June 2 had quietly built back up to the exact level it sat at immediately before the previous major wipeout.
Funding rates were running hot, meaning traders were paying a premium to hold long positions, a classic sign that bullish bets had become crowded and one-directional.
When leverage gets that stretched and positioning gets that crowded, the market becomes fragile in a specific way. A large mass of leveraged long positions sits stacked at similar price levels, each with a liquidation point not far below the current price.
All it takes is a push big enough to hit the first cluster of those liquidation points, and the rest go like dominoes. The market did not need a major catastrophe to crash. It needed a nudge, because the structure was already a tower of leverage waiting to topple.
The spark: a 32-coin sale
The nudge, almost absurdly, was a $2.5 million Bitcoin sale by a company that owns roughly $61 billion of it.
On June 1, Strategy, the Michael Saylor-led firm that is the largest corporate holder of Bitcoin, disclosed in an SEC filing that it had sold 32 Bitcoin for about $2.5 million to help fund dividends on its preferred stock. In raw market terms, 32 coins is statistically irrelevant. Global Bitcoin spot turnover runs into the tens of billions of dollars daily. A $2.5 million sale does not move the price by itself any more than a bucket of water changes the level of a lake.
What made it matter was the symbolism. Strategy wrote the playbook for aggressive, never-sell corporate Bitcoin accumulation. For years, the company’s refusal to sell was a load-bearing belief for a certain kind of Bitcoin holder. So when the filing showed Strategy selling for the first time since 2022, it did not register as a tiny dividend-funding operation.
It registered, especially among retail traders on forums like Stocktwits who pointed to Saylor’s decision as the primary cause, as the guy who said he would never sell, selling. That broke a psychological anchor, and in a market sitting on October-2025 levels of leverage, breaking a psychological anchor was enough.
The sequence matters here. The sale itself did not crash the market. The sale dented sentiment, sentiment nudged the price down toward the first cluster of leveraged long liquidation points, and then the leverage did the rest. The 32 coins were the match. The leverage was the gasoline.
The cascade: how the dominoes fell
Once the price broke through the first liquidation cluster, the mechanism took over, and the mechanism is brutal and automatic.
Here is how a liquidation cascade works. When a trader uses leverage to bet on Bitcoin rising, the exchange sets a liquidation price below the entry. If the price falls to that level, the exchange automatically closes the position by selling, to prevent the trader’s losses from exceeding their collateral. That forced selling pushes the price down further. The lower price hits the next cluster of liquidation points, forcing more automatic selling, which pushes the price down again. Each wave of forced selling triggers the next. It is a chain reaction that feeds on itself, and it can run far faster than any human can react.
On June 2 the chain reaction was violent. Roughly $394 million in leveraged positions were force-closed in a single hour. Over the next 24 hours, the total reached about $1.02 billion, and as the slide continued, the broader wipeout swelled toward $1.8 billion, one of the largest liquidation events of 2026 and the biggest since the prior October’s crash. More than 272,000 traders were liquidated.
The long-short split tells the whole story: roughly $1.57 billion of the liquidations were long positions versus only about $215.7 million in shorts. This was a crowd of bullish, leveraged traders getting flushed almost all at once.
The selling was not only in the derivatives market. Spot Bitcoin moving onto exchanges, often a precursor to selling, spiked sharply. Total exchange inflows reached about 58,617 Bitcoin, the highest since April 14, and higher than the roughly 46,527 Bitcoin that flowed in just before the October 2025 Black Friday crash. More coins were being moved to exchanges to sell this time than ahead of that previous wipeout, which is part of why the slide kept going rather than snapping back.
The damage spread across the market. Bitcoin led with over $833 million in liquidations, Ethereum followed with nearly $480 million as it fell toward $1,857, Solana saw over $90 million, and XRP dropped around 3%. The total crypto market capitalization fell to around $2.42 trillion.
The slide that kept going
A normal flash crash bounces. This one did not, and that is what separates the June 2 event from an ordinary leverage flush.
After the initial June 2 cascade, Bitcoin failed to recover. It opened June 3 below $67,000, dipped toward the $65,400 area, and retested its February low for the third time. By June 4, it had broken below $62,000, touching $61,655, erasing months of recovery and falling more than 50% below the October 2025 peak. Ethereum opened June 3 below $2,000, down more than 7%. Each attempted bounce was sold into.
The reason the slide kept going points to something deeper than leverage. CryptoQuant’s head of research, Julio Moreno, argued the correction was about Bitcoin demand contracting, not about stocks, oil, or macro. By his measure, overall demand for Bitcoin, speculative and spot combined, was shrinking at a monthly pace of about 232,000 Bitcoin.
US equities, by contrast, were sitting at record highs at the same moment, which undercuts the idea that this was simply a broad risk-off move dragging everything down together. On this reading, Bitcoin was falling because fewer people wanted to buy it, full stop, and a leverage flush on top of contracting demand produces a slide rather than a quick snapback.
The drop also pushed Bitcoin below a symbolically heavy line: Strategy’s average purchase price, for the first time since late 2023. The largest corporate holder of Bitcoin was now underwater on its average position, which deepened the very sentiment problem that Strategy’s small sale had started.
The other pressures in the background
The leverage and the demand contraction explain the mechanics, but several other forces were leaning on the market at the same time, which is why the selling found so little support on the way down.
ETF outflows were the steadiest pressure. Spot Bitcoin ETFs had entered an extended consecutive-selloff streak that reached 11 to 12 days, the longest run since the products launched, with total withdrawals of roughly $3.45 billion. That meant the largest channel of institutional demand was not buying the dip. It was a net seller, removing the buyer that might otherwise have absorbed the cascade.
The macro backdrop was risk-off. Renewed Middle East tensions, with Iran-related uncertainty pushing oil prices higher, drove a broad move out of risk assets. The crash also landed at the start of a jobs week, with US job openings data due ahead of payrolls, leaving traders defensive ahead of data that could move rate-cut expectations. Sticky inflation worries and renewed dollar strength added to the pressure, since a stronger dollar makes Bitcoin less attractive to global buyers.
There was even an on-chain wrinkle: reported movement from old Mt. Gox-related wallets, the kind of dormant-coin shuffle that occasionally spooks the market with fears of long-held supply hitting exchanges. And underneath all of it sat the cycle argument. Some analysts read the drop as the four-year cycle simply playing out, with the post-peak drawdown that historically follows a major top now underway. On this view, the crash was not an anomaly at all but the expected behavior of an asset more than a year past its cycle high.
Where prediction markets see it going
With the slide still fresh, the clearest read on sentiment comes from where traders are actually putting money, and the prediction markets have turned sharply bearish.
On Polymarket, the most active Bitcoin market shifted to pricing a roughly two-thirds chance that Bitcoin hits $55,000 or lower before 2027. Traders priced a 72% chance of a drop below $65,000 in 2026, and the same market showed meaningful odds, around half, of a fall to $50,000, with smaller but non-trivial odds assigned to $45,000 and even $40,000.
These contracts resolve based on whether Bitcoin records a low at or below the listed price, so they reflect where traders think the floor could be tested, not necessarily where it settles.
The analyst commentary matched the bearish tilt. CryptoQuant said a bear market has persisted since November 2025 and warned that bottoms take months to form, with Moreno cautioning against trying to call a bottom right after a fresh leg down.
That said, the same prediction markets still showed a slight majority assigning odds to Bitcoin reclaiming $100,000 by year-end, a reminder that even bearish crowds were not writing off a recovery entirely. The honest summary of market sentiment is that the crowd now sees real downside risk toward $55,000 and below, while keeping a smaller bet alive that this resolves higher by December.
Why this keeps happening
If this sequence feels familiar, that is because it is. The specific trigger changes every time, but the underlying pattern of crypto crashes is remarkably consistent, and understanding it is more useful than memorizing any single day’s news.
The recurring ingredient is always leverage. Crypto offers traders enormous leverage, often far beyond what regulated traditional markets allow, and during calm bullish stretches that leverage accumulates. Traders pile into long positions, funding rates climb, and open interest swells.
The market looks strong on the surface because the price is rising, but underneath it is becoming more fragile with every additional leveraged long, because each one is a liquidation point waiting to be hit. The October 2025 crash had this setup. The June 2026 crash had this setup. The pattern repeats because the incentive to use leverage during a rally never goes away.
The trigger is almost always secondary. It can be a Saylor sale, a macro headline, a large whale moving coins, a technical break of a watched level. What matters is not the size of the trigger but whether the market is leveraged enough for the trigger to start a cascade. A $2.5 million sale starting a slide in a $1.2 trillion asset class makes no sense until you understand that the sale was not the cause, just the ignition. In an unleveraged market, the same sale would have been a non-event.
This is why seasoned traders watch funding rates and the open-interest leverage ratio more closely than they watch any individual news item. The news tells you what lit the fuse. The leverage data tells you how big the explosion will be.
Where this leaves things
The June crash was a leverage event that turned into a demand event. The headline says Bitcoin crashed because Saylor sold, and that is the version most people will remember. The fuller version is that Bitcoin was carrying its highest leverage since the eve of the last major wipeout, a small symbolically loaded sale started the dominoes, and then a genuine contraction in Bitcoin demand kept the price sliding for three days instead of letting it bounce.
The numbers that matter going forward are not the 32 coins. They are the roughly $1.8 billion liquidated, the 272,000 traders flushed, the 232,000-Bitcoin monthly demand contraction CryptoQuant flagged, and the fall below Strategy’s average cost basis. The liquidation cascade was, mechanically, a reset: it cleared out the crowded long leverage that made the market fragile, which is often a precondition for stabilization.
But the demand contraction is the worrying part, because a leverage flush fixes itself in hours while demand can persist for months. That is the distinction between a dip and a deeper decline, and right now the data points to both forces being present at once.
What it does not settle is direction. A leverage flush resets the derivatives market, but where Bitcoin goes from its post-crash level near $62,000 depends on the things that have nothing to do with leverage: whether ETF outflows reverse, whether demand stops contracting, whether the Middle East risk-off eases, whether the jobs data shifts rate-cut expectations, and whether the four-year-cycle crowd is right that this is a post-peak drawdown with further to run.
Prediction markets are betting on more downside toward $55,000 while keeping a smaller wager alive on a recovery by year-end. For traders, the durable lesson is the one this pattern teaches every cycle: in a market this leveraged, the trigger is never the point. The leverage is. And this time, the demand behind it is the thing to watch next.
This article is for informational purposes and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile. The figures and analysis described reflect data available as of June 4, 2026. Always do your own research and consult with qualified financial professionals before making investment decisions.
Russia’s FSB says Telegram founder Pavel Durov faces a terrorism-related charge and an international arrest warrant, while a separate French case remains open.
US spot Bitcoin ETFs recorded four straight sessions of outflows totaling $526 million as Bitcoin faced renewed selling pressure after failing to hold $65,000.
Crypto World
The Most Unpredictable FOMC Meeting in Years Is Here: What Bitcoin Investors Should Know
The United States Federal Reserve will announce its interest-rate decision later today, but, unlike essentially every meeting in the past six years, markets remain divided over what comes next.
Bitcoin investors seemingly de-risked yesterday in what appeared to be a blatant sell-off ahead of the key event. The question now is what follows.
Why So Much Unpredictability Now
The Federal Open Market Committee began its two-day meeting on July 28 and will publish its decision at 2:00 p.m. ET today. Chairman Kevin Warsh’s press conference will follow approximately 30 minutes later, in which investors will seek clues for what the central bank’s policy will be for the remainder of 2026.
The current benchmark rate stands between 3.50% and 3.75%. Although most experts still believe it will be left unchanged, futures markets recently assigned a probability of up to 38% to a surprise 25-basis-point hike. According to the analyst at the Kobeissi Letter, these expectations are among the most divided in recent history.
They explained that nearly every Fed meeting since the COVID-19 pandemic in March 2020 entered decision day with roughly 99% agreement about the outcome. The situation now is different for the first time in over six years, given the aforementioned odds on futures markets and prediction platforms.
The uncertainty partly stems from Warsh’s decision to reduce the central bank’s reliance on forward guidance. Minutes from the June meeting showed that policymakers discussed shortening the Fed’s statement and removing language indicating the likely direction of the next move. Warsh’s approach is expected to preserve flexibility, but it has also left traders without the clear policy signals they became accustomed to under Jerome Powell.
Change or No Change
The Kobeissi Letter analysts said they believe the Fed will leave rates unchanged. A recent Reuters survey of over 100 forecasters reached the same conclusion, with more than three-quarters predicting no policy shift until the end of the year. ING economists shared the same opinion.
One of the reasons for this is the softer-than-expected inflation data for June. The labor market has also shown signs of weakening, giving the Fed another reason not to tighten financial conditions further.
There’s also the opposite side of the coin, though, as some experts believe the central bank might lose credibility if it waits too long. Inflation remains well above the 2% target, while renewed geopolitical tension, tariffs, and energy-market instability could push prices higher again.
Several Fed officials have reportedly become more open to the idea of raising rates if inflation fails to improve. Warsh has also avoided giving markets a clear roadmap, meaning that a hike cannot be easily dismissed simply because officials did not prepare investors for one in advance.
Crypto Impact
Crypto analytics platform Santiment Intelligence outlined a notable rise in social-media discussions about the interest-rate hikes ahead of today’s meeting. The data showed a similar spike in such fears before the previous meeting on June 16. However, as it typically happens, the social chatter was wrong as the Fed left rates unchanged.
“Crowd conviction can get loud right before it gets wrong, especially when traders are trying to price Fed uncertainty into Bitcoin,” said Santiment.
Let’s talk prices. BTC dipped by $3,000 yesterday in a de-risking development ahead of the meeting. It has recovered half of the losses, currently sitting above $64,000.
If the Fed doesn’t change rates and Warsh doesn’t signal strongly for a September hike, BTC could rebound further as the uncertainty might have already been priced in. If there’s no rate change but the Chairman sounds hawkish, bitcoin might jump initially as there would be no hike now, but it’s likely to retreat toward $60,000 in the next few weeks.
A surprise 25-basis-point increase, though, will be the most bearish immediate outcome for the cryptocurrency. The decision will likely strengthen the dollar, push Treasury yields higher, and cause investors to further reduce exposure to speculative assets.
The post The Most Unpredictable FOMC Meeting in Years Is Here: What Bitcoin Investors Should Know appeared first on CryptoPotato.
Jump Capital has closed a $350 million venture fund with a stronger focus on crypto investments.
Summary
- Jump Capital has closed a $350 million venture fund with a stronger focus on early stage crypto investments.
- The firm said the new fund will back blockchain infrastructure, DeFi, Web3, fintech, and enterprise software startups.
- Jump Capital has expanded its crypto portfolio through investments in Securitize, Shelby, and KGeN over the past year.
- The venture firm has completed more than 100 investments and nearly 30 exits since its launch.
According to a July 29 announcement, Jump Capital has closed its seventh venture fund with $350 million in total capital commitments, describing it as the firm’s largest fund to date and outlining plans to increase investments across the crypto ecosystem while continuing to back early-stage technology startups.
The firm’s official announcement said the new vehicle will continue investing in fintech, IT and data infrastructure, future of commerce and media, and B2B SaaS, while allocating more resources to blockchain and digital asset companies.
The fund follows nearly a decade of venture investing that has resulted in more than 100 portfolio companies and close to 30 exits.
Jump Capital has expanded its crypto allocation
Founded in 2012 alongside Jump Trading, Jump Capital said it originally focused on software and technology companies outside traditional coastal venture markets while supplying Series A and Series B funding to underserved founders across the United States.
The firm said market conditions have changed considerably since then. Access to Series A and Series B capital has become more limited, while investor attention toward startups in the Midwest increased during the pandemic.
At the same time, blockchain emerged as what Jump Capital described as a technology capable of changing financial markets and introducing new models of ownership and value transfer.
According to the announcement, the venture firm began investing in crypto roughly seven years ago before building a dedicated investment team led by partners Saurabh Sharma and Peter Johnson. It said experience across distributed systems, computing infrastructure, fintech, and capital markets encouraged it to commit more resources to the sector through its latest fund.
The announcement added that Jump Capital and its affiliate Jump Trading now invest globally across the crypto market, citing increasing institutional participation, continued retail adoption, and rapid product development as factors supporting that strategy.
Crypto investments already span infrastructure and tokenization
According to Jump Capital, its crypto portfolio already includes investments across exchanges that support fiat on-ramps, lending and credit platforms, compliance software, asset management platforms, decentralized finance, gaming, Web3 infrastructure, and blockchain networks.
In May 2025, Jump Crypto, the digital asset division of Jump Trading, acquired a significant equity stake in Securitize for an undisclosed amount. At the time, Securitize said the partnership would expand institutional access to tokenized real-world assets, including U.S. Treasurys, private credit, and private equity, while improving collateral management solutions. Securitize Chief Operating Officer Michael Sonneshein said the investment demonstrated growing institutional conviction in tokenization and its role in capital markets.
The company made another infrastructure-focused move in June 2025, when Aptos Labs and Jump Crypto introduced Shelby, a decentralized hot storage network designed to provide cloud-grade infrastructure for Web3 applications. Aptos Labs said Shelby would deliver decentralized, monetizable storage with sub-second data access across multiple blockchains, while Jump Crypto said the protocol addresses blockchains’ inability to efficiently serve large datasets at scale.
Earlier collaborators announced for Shelby included Metaplex, Pipe Network, Story, Myco, DoubleZero, and Flashback Labs, with Aptos serving as the network’s initial settlement layer.
Portfolio activity has continued across emerging Web3 projects
Jump Crypto has also continued backing consumer-facing blockchain applications.
In September 2025, Web3 distribution protocol KGeN announced a $13.5 million strategic funding round backed by Jump Crypto, Accel, and Prosus Ventures, increasing the company’s total funding to $43.5 million.
KGeN said the proceeds would support expansion of its POGE identity and reputation framework, which helps Web3 applications manage user acquisition, commerce, and loyalty programs on-chain. At the time, the company reported operations across more than 60 countries, serving 38.9 million verified users, generating $48.3 million in annualized revenue, and recording roughly 780,000 daily active users.
Following that investment, Jump Crypto Chief Investment Officer Saurabh Sharma said KGeN’s distribution model introduced more accountability into digital user acquisition, while Accel and Prosus Ventures credited the platform’s ability to scale measurable engagement.
New fund builds on nearly a decade of venture investing
Alongside its crypto activity, Jump Capital said its venture business has completed more than 100 investments and nearly 30 exits since launch.
The firm pointed to exits involving Personal Capital, acquired by Empower, Flashpoint, acquired by Audax, and Tubi, acquired by Fox, while also highlighting companies including SPIRE, Fast Radius, M1 Finance, Degreed, TradingView, LogicGate, and LinkSquares among its portfolio.
According to Jump Capital, its investment process continues to rely on sector-specific research and discussions with industry participants before identifying founders whose businesses align with the firm’s investment themes.
With Fund VII now closed, the venture firm said it plans to continue supporting early-stage technology companies while dedicating additional capital and personnel to blockchain infrastructure, decentralized finance, crypto networks, gaming, and other parts of the digital asset ecosystem.
The US dollar continues to hold the upper hand against most major currencies ahead of the outcome of the latest Federal Reserve meeting. While the base-case scenario remains for interest rates to stay unchanged, markets are also pricing in the possibility of a rate hike. The Fed’s decision, together with its comments on inflation, economic conditions and the future path of monetary policy, could determine the direction of the US dollar over the coming weeks.
Another factor supporting the dollar is the ongoing geopolitical uncertainty in the Middle East. Despite the temporary suspension of US strikes on Iran and renewed diplomatic efforts, the risk of further military escalation remains, prompting investors to remain cautious ahead of this week’s key events. Geopolitical uncertainty continues to underpin demand for the US dollar as a safe-haven asset. At the same time, USD/JPY’s approach towards multi-year highs has increased expectations of fresh warnings from Japanese authorities and raised the risk of currency intervention. For USD/CAD, oil prices remain another important driver: weaker crude prices continue to limit support for the Canadian dollar and help preserve the pair’s bullish potential.
USD/JPY
USD/JPY tested another multi-year high near 164.00 last week. Following the strong rally, the pair has entered a modest pullback. However, if the Federal Reserve delivers a more hawkish outcome or maintains its hawkish tone, the pair could extend its advance towards 165.00–165.50. A decisive move below 163.30 could trigger a deeper correction towards the 162.00–162.60 support area.
Key events for USD/JPY:
- Today at 21:00 (GMT+3): US Federal Reserve interest rate decision;
- Today at 21:30 (GMT+3): Federal Open Market Committee (FOMC) press conference;
- Tomorrow at 15:30 (GMT+3): US Core Personal Consumption Expenditures (PCE) Price Index.
USD/CAD
USD/CAD’s recovery following the formation of a bullish engulfing pattern has stalled near resistance at 1.4130. The pair is currently consolidating within the 1.4060–1.4130 range. A decisive break above the upper boundary of this range could pave the way for further gains towards 1.4160–1.4200. Conversely, a move below 1.4060 could lead to a retest of the recent low near 1.4000.
Key events for USD/CAD:
- Today at 17:30 (GMT+3): US crude oil inventories;
- Today at 20:30 (GMT+3): Bank of Canada Summary of Deliberations;
- Tomorrow at 15:30 (GMT+3): US GDP data.
Overall, the near-term direction of both USD/JPY and USD/CAD will depend primarily on the Federal Reserve’s decision and its guidance on the future path of interest rates. A more hawkish stance could support a breakout above nearby resistance levels and reinforce the US dollar’s strength. Conversely, a more dovish message could trigger a correction in the greenback, particularly against the Japanese yen, where the proximity of multi-year highs increases the likelihood of renewed warnings from Japanese officials. For USD/CAD, oil price movements and the Bank of Canada’s Summary of Deliberations will remain important additional drivers.
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XRP trades near $1.06 in late July 2026, roughly 71 percent below the $3.65 cycle top set on July 17, 2025. This piece walks through the escrow-versus-ETF equation, the bull case ($4.50–$7.00 by 2030), the base case ($1.80–$3.20), and the bear case ($0.60–$1.40).
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All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy.
Crypto World
HTX’s First TradFi “Trade to Earn” Campaign Unleashes New Trading Momentum: Rewards Exceed $23,000, Fee Savings Reach 1.8 Billion $HTX
Recently, HTX’s first-ever TradFi “Trade to Earn” campaign concluded successfully. The campaign leveraged innovative gameplay – “24/7 mining” and “up to 110% fee rebates” – to ignite significant trading enthusiasm for traditional finance assets within the crypto market.
HTX’s official data reveals impressive results: the campaign generated a total trading volume of 63.37 million USDT, crowned a top winner claiming 5,206 USDT in rewards, and collectively saved users 22,238 USDT in trading fees. These achievements underscore the event’s effectiveness in enhancing the user trading experience and reducing trading costs.
Amid current market volatility, HTX’s TradFi perpetual futures contracts offer users an excellent hedging and cross-market investment tool. Through the “mining via trading” model, users can capture macro opportunities such as surging U.S. equities and gold volatility using familiar USDT capital without trading fee friction.
Enjoy Negative Trading Fee Rates 24/7
Official data reveals that the inaugural “Trade to Earn” campaign generated a robust trading volume of 63.37 million USDT. Over the campaign period, the platform distributed 23,477 USDT in rewards while saving traders 22,238 USDT in fees (an equivalent of roughly 1.8 billion $HTX). These impressive metrics highlight HTX’s trading innovations with negative fee rates and 24/7 continuous rewards.
During the campaign, users trading designated TradFi perpetual futures contracts earned $HTX rewards of up to 110% of their actual trading fees incurred. This means the platform not only covers all trading costs but also provides additional rewards, transforming trading costs from an expense into profit and truly achieving “the more you trade, the more you earn.” Additionally, the platform offered a daily prize pool of 6,000 USDT, distributed hourly to ensure round-the-clock incentives.
Notably, the campaign-designated trading assets span a diverse range of core TradFi instruments: from safe-haven and inflation-hedging tools like gold (XAU) and crude oil (USOIL), to major indices like the Nasdaq (QQQ) and tech giants including NVIDIA (NVDA) and Microsoft (MSFT). This diverse selection of assets offers users versatile macro allocation, hedging, and cross-market trading opportunities, further expanding practical use cases at the intersection of Web3 and traditional finance.
Fees for $HTX Buyback and Burn, Constructing a Positive Cycle of Trading and Ecosystem Value
Beyond trading rewards, another standout feature of this campaign is its deep integration of user trading activity with $HTX ecosystem value.
During the campaign, all trading fees generated from designated TradFi contracts were allocated to buy back $HTX tokens, with buybacks executed and burned according to the platform’s quarterly burning schedule. This mechanism links platform trading growth with $HTX value creation, continuously incentivizing user participation while reinforcing the token’s deflationary characteristics. This fosters a positive cycle: “trading growth – token buyback and burn – value accumulation.”
With the first campaign successfully concluded, HTX’s second-phase TradFi “Trade to Earn” is now in preparation. The campaign will continue to adopt negative-fee trading and 24/7 rewards, while further expanding access to popular TradFi asset trading scenarios. This will enable users to capture global market opportunities while continuously enjoying the innovative experience of “trading as earnings.”
Looking forward, HTX will leverage more diverse products, increasingly competitive incentives, and an enhanced ecosystem to drive deeper integration between crypto and TradFi, delivering a more professional and efficient digital asset trading platform for global users.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.
As a world-leading gateway to Web3, HTX harbors global capabilities that enable it to provide users with safe and reliable services. Adhering to the growth strategy of “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance,” HTX is dedicated to providing quality services and values to virtual asset enthusiasts worldwide.
To learn more about HTX, please visit https://www.htx.com/ or HTX Square , and follow HTX on X, Telegram, and Discord.
The post HTX’s First TradFi “Trade to Earn” Campaign Unleashes New Trading Momentum: Rewards Exceed $23,000, Fee Savings Reach 1.8 Billion $HTX appeared first on BeInCrypto.
Russia has escalated its long-running dispute with Telegram by charging founder Pavel Durov with facilitating terrorist activities and issuing an international arrest warrant, marking one of the most significant legal actions yet against the messaging platform’s billionaire founder.
The move comes as governments worldwide intensify pressure on technology platforms over content moderation, encryption, and their responsibilities in preventing criminal activity. The latest accusations also add to Durov’s ongoing legal challenges outside Russia, including an active investigation in France.
The post Russia Targets Telegram Founder Pavel Durov With Terrorism Charges appeared first on BeInCrypto.
Bitcoin climbed 1% to about $63,800 on Wednesday while Asian equity markets suffered one of their worst stretches of the year, the second time in a seven-day period that crypto has held through a sharp unwind in the artificial intelligence trade.
The majors moved with it. Ether rose 1% to $1,899, XRP added 2% to $1.07, BNB gained to $567, solana held at $73, and dogecoin edged up. Hyperliquid’s HYPE was the only major in the red, down 3% to $54.
The damage in equities was concentrated in chipmakers. South Korea’s benchmark tumbled 11%, following an 11% drop on Tuesday and putting the index on course for a record two-day decline. SK Hynix fell about 17% after reporting a 557% surge in quarterly profit that still came in below expectations, and
Samsung slid 12% ahead of its own results on Thursday. The MSCI Asia Pacific index dropped 2% to its lowest since mid-April, and Nasdaq 100 futures fell 1%, extending a five-day losing streak for the tech-heavy gauge, its longest this year.
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