The GBP/JPY pair has come under pressure after the Bank of Japan raised its policy rate to 1.0% on 16 June. The Bank of England is following the opposite path: at its 30 April meeting, the Monetary Policy Committee (MPC) voted 8–1 to keep the base rate at 3.75%, with one member advocating an increase to 4%. The June MPC meeting, scheduled for 18 June, is expected by analysts to result in another hold, as inflation remains above the target level. The narrowing interest rate differential between the two central banks continues to build a fundamentally supportive backdrop for the yen.

Technical Picture

On the 4-hour GBP/JPY chart, an ascending triangle structure can be observed: since 8 June, an upward-sloping support has been forming against a horizontal resistance near the red 215.60 level. On 17 June, a strong bearish candle formed on elevated volume, and price broke below the pattern as well as the current market profile. If the downward momentum continues, the next key level on the downside is 213.00, which represents the base of the pattern.

In the event of a reversal, price may find support at the lower boundary of the profile at 214.35 and the POC zone at 214.65–214.70. If the upward move resumes and buyers manage to break above the upper profile boundary at 215.20, the 215.60 resistance area would come back into focus. RSI + MAs shows readings of 35, 50, 51 — the oscillator is approaching oversold territory, while its moving averages remain in neutral conditions.

Key Takeaways

The narrowing interest rate gap between the Bank of Japan and the Bank of England is creating a fundamentally supportive environment for the yen. RSI is approaching oversold levels, although the MAs remain in neutral territory. The next directional move is likely to be driven by the Bank of England’s decision on 18 June.

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HIVE Digital Technologies Ltd. (TSX: HIVE, NASDAQ: HIVE) said the Boden Municipal Council in Sweden approved its acquisition of the Big Boden 32 MW data center. The company did not provide a transaction value in the announcement, and the purchase remains subject to customary closing conditions.

The approval marks a shift for HIVE at the site it has operated since 2018. Instead of renting capacity, HIVE will move toward full ownership, giving it greater control over long-term facility plans and the site’s eventual role in enterprise-scale AI and high-performance computing workloads.

From tenant to owner at the Big Boden site

HIVE said the acquisition is of the Big Boden 32 MW facility owned by Bodens Utvecklings AB. The company framed the move as the next step in an eight-year relationship with the municipality and local stakeholders, built around renewable energy procurement and operational investment in the region.

In the release, HIVE said its Swedish activities have involved more than 960 million SEK (about $100 million) invested in Boden over eight years through local contractors and renewable energy sourcing. It also said it paid more than 575 million SEK (over $60 million) in taxes to the Swedish Tax Authority during that period.

HIVE also described non-operational community involvement tied to the region, including sponsorship of local youth sports and naming rights for HIVE Arena. It said the company continues to work with Boden Municipality and RISE, the Swedish research institute, to explore using heat generated by the data center for broader community applications.

What the acquisition means for compute expansion

Data center owners and operators have increasingly treated site control as a strategic lever for expanding AI and HPC capacity. Ownership can reduce some long-term dependency risks associated with tenancy arrangements, especially when upgrades, security configurations, and power delivery depend on multi-year planning.

HIVE said that following closing, it will advance the Big Boden data center toward Tier III infrastructure standards. Tier III is commonly used as a benchmark for redundancy and uptime requirements in enterprise environments, which can be important for customers running latency-sensitive and compute-intensive AI and HPC workloads.

The company also referenced support for modern GPU architectures for AI training and inference, positioning the Swedish facility as part of a broader buildout of renewable-powered infrastructure across Canada, Sweden, and Paraguay.

While the announcement describes intended upgrades, it did not specify timelines beyond the statement that conversion to Tier III standards will occur after closing and as conditions allow. For investors and buyers of compute services, that timing matters because AI infrastructure deployments are often constrained by power availability, grid interconnection, and permitting.

Energy strategy and heat reuse in Europe’s data center market

Europe’s data center sector is under pressure to secure power while meeting sustainability expectations from regulators, customers, and local authorities. HIVE’s mention of heat reuse reflects a broader pattern across the industry, where thermal recovery is increasingly used to improve efficiency and align projects with municipal energy planning.

HIVE said it has pursued heat reuse initiatives in other regions as well, including Canada, where it participates in projects intended to redirect thermal energy back into local use. The company did not provide additional technical detail about how heat recovery at Boden would operate, but the concept has been a recurring theme in discussions with city governments across the Nordics and wider Europe.

Community partnership as a longer-term operating model

HIVE’s release places substantial emphasis on local investment and ongoing engagement. This approach is not new in data center development, but the trend has gained attention as many projects face scrutiny over land use, energy consumption, and grid strain.

The municipality approval effectively converts HIVE’s role at the site from operator under a landlord arrangement to a full owner operator, which can strengthen its ability to coordinate facility upgrades with the local energy and heat strategy. It may also affect how residents and local institutions evaluate the company’s long-term footprint.

At the same time, the company’s stated community investments do not replace the operational realities of building and maintaining mission-critical compute capacity. In practice, projects succeed when power, cooling, security, and permitting align with customer demand for AI and cloud workloads.

Transaction status and next steps

HIVE said the acquisition is subject to completion of customary closing conditions. The company indicated it will provide further details as the transaction process progresses. Until closing, the broader operational and upgrade plan at the Big Boden site remains subject to deal completion and subsequent engineering execution.

For the crypto mining and AI compute intersection that HIVE has positioned itself around, the move underscores a continuing shift toward enterprise-grade infrastructure. In a market where compute providers are competing for customers who need predictable uptime and scalable capacity, control over key assets can be a decisive factor.

Every crypto trade comes down to a choice between two basic order types: take the price now, or name your price and wait. Understanding the difference, and the stop-loss and slippage that come with it, is the foundation of trading without losing money to your own mistakes.

Placing a crypto trade comes down to a deceptively simple question: do you want to buy or sell right now at whatever the market price is, or do you want to set your own price and wait for the market to come to you? Those two choices are the market order and the limit order, the two fundamental building blocks of every trade on every exchange, and understanding the difference between them is the foundation of trading crypto deliberately rather than blindly.

Most beginners click “buy” without knowing which order type they are using or what tradeoff they are making, and that ignorance quietly costs them money, in worse prices, in orders that fill at the wrong moment, and in missed protection against losses.

This guide explains the two core order types in plain terms: what a market order is and when to use it, what a limit order is and what it gives you, the crucial concept of slippage that connects them, and the stop-loss order that protects you from large losses. It also covers how these tools fit together in practice and the order-book mechanics underneath them, so you understand not just which button to click but why.

None of this is complicated once explained clearly, and learning it is the difference between being a trader who controls their entries and exits and one who is at the mercy of the market and their own haste. Whether you ever trade actively or simply buy and hold, knowing how orders work makes every transaction you place a more informed one.

The order book: what you are actually trading against

Before the order types make sense, you need a picture of what is happening when you place a trade, and that means understanding the order book.

Every exchange matches buyers and sellers through an order book, a live list of all the orders people have placed but not yet had filled. On one side are the buy orders, people offering to buy at various prices, and on the other are the sell orders, people offering to sell at various prices. The highest price a buyer is currently willing to pay is the bid, the lowest price a seller is currently willing to accept is the ask, and the small gap between them is the spread.

The current market price you see quoted is essentially where the most recent trades happened, sitting between the best bid and the best ask. When you place a trade, you are interacting with this book, either taking an order that is already sitting there or adding your own order to it and waiting, and which of those you do is exactly what the choice between a market order and a limit order determines.

This matters because the order book is not infinitely deep at any single price. There might be only so much crypto offered for sale at the current ask, and more available only at higher prices, and the same in reverse for buyers. A small order can be filled entirely at or near the current price because there is enough sitting there to match it, but a large order may have to eat through multiple price levels to fill completely, getting progressively worse prices as it consumes the available orders. This depth, or lack of it, is what produces slippage, the concept that ties the order types together, and it is why the same kind of order can behave very differently for a small trade and a large one. Keeping the order book in mind turns order types from abstract options into a concrete picture of what your trade is actually doing.

The market order: take the price now

The market order is the simplest and most common, and it answers the question “how do I just buy or sell this immediately?”

A market order executes immediately at the best price currently available in the order book. When you place a market buy, the exchange fills it against the lowest-priced sell orders sitting on the book, starting with the best ask and working up if needed until the order is filled; a market sell does the reverse, hitting the highest-priced buy orders.

The defining feature of a market order is certainty of execution: it will fill, and it will fill right away, because it simply takes whatever prices are available until the order is complete. This is what you want when getting the trade done matters more than getting a precise price, when you want to own an asset now, exit a position now, or act on a decision without waiting. For most ordinary buying and selling, especially in smaller amounts on liquid assets, the market order is the natural, sensible choice.

The tradeoff is that a market order gives you certainty of execution but not certainty of price. You accept whatever prices the order book offers, and in a fast-moving or thin market, that can be meaningfully different from the price you saw a moment before you clicked. For a small trade on a heavily traded asset like Bitcoin, the difference is usually negligible, because there is plenty of volume sitting at or near the current price to fill your order cleanly.

But for a large trade, or on a thinly traded asset with little depth, a market order can fill at a noticeably worse average price than expected as it eats through the book, which is the slippage problem. The market order’s simplicity and reliability are its strengths, and for most beginner-sized trades they outweigh the price imprecision, but understanding that you are trading price certainty for execution certainty is what lets you use it wisely.

The limit order: name your price and wait

The limit order answers a different question: “what if I do not want to pay the current price, but a specific price of my own choosing?”

A limit order lets you set the exact price at which you are willing to buy or sell, and the order executes only if and when the market reaches that price. A limit buy at a price below the current market sits on the order book waiting, and fills only if the price falls to your level; a limit sell at a price above the market waits and fills only if the price rises to meet it.

The defining feature of a limit order is control over price: you will never pay more than your limit on a buy or accept less than your limit on a sell, because the order simply will not execute outside your specified price. This is what you want when the price matters more than immediacy, when you believe an asset is currently a little overpriced and would rather buy lower, or when you want to sell at a target you have set and are willing to wait for.

The tradeoff is the mirror image of the market order: a limit order gives you certainty of price but not certainty of execution. If the market never reaches your specified price, the order never fills, and you may sit waiting for a level the market simply does not visit, missing the trade entirely while the price moves away from you. A limit buy set too low may never trigger as the asset rises without you; a limit sell set too high may never trigger as the asset falls.

So the limit order trades the guarantee of getting the trade done for the guarantee of getting your price, which is the exact opposite of the market order’s bargain. Limit orders are the tool of the deliberate trader who cares about entry and exit prices and is willing to wait or to miss a trade instead of accepting a price they do not want, and they become more valuable as you grow more precise about the levels at which you want to act.

Slippage: the concept that connects them

Slippage is the idea sitting underneath both order types, and understanding it explains why the choice between them matters and when each one bites.

Slippage is the difference between the price you expected and the price you actually got. It arises from the order book’s limited depth and from price movement between the moment you place an order and the moment it fills. A market order is exposed to slippage by design, because it accepts whatever prices the book offers: if your order is large or the book is thin, it eats through multiple price levels and fills at a worse average price than the quote you saw, and if the price moves in the instant your order executes, you get the new price, not the old one.

This is why a market order on a large amount or an illiquid asset can surprise you with a fill noticeably worse than expected, while the same order on a small amount of a liquid asset fills cleanly with negligible slippage. The depth of the order book is what determines how much slippage a market order suffers.

A limit order is the tool that protects you from slippage, because by naming your price you refuse to accept anything worse than it. The limit order will not slip past your specified level, which is precisely its value in volatile or thin markets where a market order could fill at a bad price. The cost of that protection is the execution risk already described: the order may not fill at all.

So the relationship between the two order types and slippage is clean: market orders accept slippage in exchange for guaranteed execution, and limit orders eliminate slippage in exchange for accepting that the order might not execute. Knowing this lets you choose deliberately, reaching for a market order when you want certainty of getting filled and the asset is liquid enough that slippage will be small, and for a limit order when you want to control your price and protect against slippage in a volatile or thin market, accepting that you might wait or miss the trade.

The stop-loss: protecting yourself from large losses

Beyond the two core order types is a third tool every trader should understand, because it is the main defense against a position going badly wrong.

A stop-loss is an order that automatically sells your position if the price falls to a level you set in advance, designed to limit your loss on a trade that moves against you. You decide, when you enter a position, the price at which you would want to cut your losses and exit, and you place a stop-loss at that level; if the market drops to it, the stop-loss triggers and sells, capping your loss rather than letting it deepen while you watch or hesitate.

The value of a stop-loss is that it removes emotion and inattention from the most dangerous moment in trading, the falling market, by deciding your exit in advance and executing it automatically, so you are not relying on yourself to act decisively while a position is collapsing and your instinct is to hope it recovers. For anyone holding a position they could not afford to see fall much further, a stop-loss is the standard protective tool.

Stop-losses come with their own nuances worth knowing. A basic stop-loss typically triggers a market order when the level is hit, which means it sells immediately but is exposed to slippage, potentially filling below your stop price in a fast crash, while a stop-limit version triggers a limit order, protecting your price but risking that it does not fill if the market gaps straight through your level.

In very fast or volatile moves, a stop-loss can fill worse than the set level because of slippage, which is the same order-book reality that affects market orders. And a stop-loss set too tight, too close to the current price, can be triggered by normal volatility and sell you out of a position that then recovers, while one set too loose offers little protection. Used thoughtfully, with the level chosen to reflect how much you are willing to lose and the normal swings of the asset, a stop-loss is one of the most important risk-management tools a trader has, and it is the practical application of the order types to the problem of protecting capital.

How it fits together in practice

With the tools defined, the practical question is when to use each, and a few clear principles cover most situations.

Use a market order when execution matters more than precision: when you want to buy or sell now, the asset is liquid enough that slippage will be small, and you would rather guarantee the trade than chase a perfect price. This covers most ordinary buying and selling, especially in smaller amounts on major assets, and it is the right default for a beginner who simply wants to own or exit a position.

Use a limit order when price matters more than immediacy: when you have a specific level at which you want to buy or sell, you are willing to wait or to miss the trade rather than accept a worse price, or you are trading a large amount or a thin asset where a market order would slip badly. The limit order is the tool of deliberate entries and exits and of protecting yourself against slippage. And use a stop-loss whenever you hold a position you want to protect from a large loss, setting the exit level in advance so that a falling market triggers your sale automatically instead of depending on your judgment in the moment.

These tools combine in real trading. A common pattern is to enter with a limit order at a price you find attractive, then immediately set a stop-loss below your entry to cap the downside if you are wrong, and perhaps a limit sell above to take profit at a target, so that both your exit on a loss and your exit on a gain are defined in advance and execute without you having to watch the market constantly. A beginner does not need to run elaborate setups, but understanding that orders can be combined to control both entry and exit, and to protect against the worst outcomes, is what separates trading deliberately from clicking buy and sell on impulse. The order types are the vocabulary of trading, and fluency in them lets you express a plan rather than merely react.

The foundation of every trade

Every crypto trade, however simple or sophisticated, is built from a small set of order types, and understanding them is the foundation of trading without being undone by your own haste. A market order takes the current price and guarantees execution, accepting slippage as the cost, and it is the right tool when getting the trade done matters most and the asset is liquid.

A limit order names your price and guarantees you will not do worse than it, accepting that the order may not fill, and it is the tool of deliberate entries, exits, and protection against slippage. Slippage, the gap between expected and actual price, is the concept that connects them and explains when each one matters. And the stop-loss applies these mechanics to the essential job of limiting losses, deciding your exit in advance so a falling market cannot depend on your nerve.

The deeper point is that order types turn trading from a reaction into a decision. The beginner who clicks buy without knowing the order type is accepting whatever the market gives, exposed to slippage they did not anticipate and with no plan for when to exit, while the trader who understands these tools chooses their price when it matters, protects against slippage when it could hurt, and defines their losses before they happen, not after.

None of this requires advanced skill or constant attention; it requires knowing the handful of order types and what each one trades away. Learn them, and every transaction you place, whether a one-time purchase or an active trade, becomes something you control, not something that controls you. That control, more than any prediction or strategy, is the real foundation of trading crypto sensibly.

Frequently Asked Questions

This guide is educational information, not financial or trading advice. Trading crypto carries real risk of loss. Order types manage how trades execute but do not eliminate market risk, and you should only trade with money you can afford to lose.

Aztec Network has been hit by another $2 million hack, its second this week.

Following Sunday’s $2.2 million loss from Aztec Connect, Aztec’s Private Rollup Bridge has now been drained of a similar amount.

The firm stressed, in both cases, that the affected contracts are “immutable” and were “deprecated” in 2022 and 2023.

Today’s incident brings the tally of bridge-related exploits this year to 14, with over $340 million lost in total.

Read more: Bridge hacks back in vogue as Verus exploit brings 2026 total to $329M

Security researcher Vishal Singh was first to flag the loss, which targeted the escapeHatch function of Aztec’s Private Rollup Bridge. The escapeHatch is an emergency measure which allows users to withdraw assets held on the rollup directly from Ethereum.

Yu Xian, founder of blockchain security firm SlowMist lists three suspicious transactions draining the Private Rollup Bridge. In all, around $2.15 million was drained as 1,158 ether, 150,000 DAI and 0.5 renBTC. 

He explains that, during the brief windows the hatch was “open,” anyone could trick the escapeHatch function into releasing the RollupProcessor-held funds by setting specific proofId and publicOutput parameters.

Read more: Rough weekend for DeFi: Four hacks, three outages, one warning

Double trouble

According to analysis from BlockSec, both Sunday’s and Thursday’s incidents, while not identical, were caused by “public input binding issues.”

Read more: Raydium’s old liquidity pools exploited for $1.3 million

The attack targeted Aztec’s RollupProcessorV3 contract, draining approximately $2.15 million of assorted crypto tokens.

DeFi protocols have faced a worrying tidal wave of attacks in recent months.

The hit rate appears to have dropped off somewhat in recent weeks, but the community braced itself for Anthropic’s Mythos release last week.

In the end, it turned out the model’s cybersecurity capabilities had been heavily “nerfed.”

Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.

Malta’s financial regulator is exploring how decentralized finance (DeFi) could fit within the European Union’s Markets in Crypto-Assets (MiCA) framework, focusing on governance, accountability and the meaning of “full decentralization.”

The Malta Financial Services Authority (MFSA) said that while MiCA excludes cryptocurrency services provided in a “fully decentralised manner without any intermediary,” many DeFi projects retain centralized features such as administrator keys, governance concentration, protocol upgrade rights and control over user-facing interfaces, in a discussion paper published Wednesday.

The regulator is seeking feedback on whether decentralization should be assessed as a spectrum rather than a binary concept and whether a standardized framework should be developed to determine when a protocol falls outside MiCA’s scope.

DeFi is something of a grey area under the EU’s framework for regulating crypto, as it excludes services provided in a fully decentralised manner, but lacks a clear description of when a protocol or platform meets that threshold.

MSFA’s paper also asks whether regulated crypto firms should be required to conduct smart-contract audits, governance reviews and risk assessments before integrating DeFi protocols into their services.

The upgrade marks a shift away from the protocol’s previous linear vesting model, in which tokens were auto-released to market regardless of demand, and it concluded earlier this year, in January 2026.

“Aster’s tokenomics upgrade puts the platform’s own activity to work,” the protocol noted, highlighting that the new rewards are settled on-chain with “no discretionary reserve.”

The token’s bullish price action, however, was short-lived as the Federal Reserve’s hawkish turn sent the dollar higher and weighed on risk assets, including cryptocurrencies.

As of writing, ASTER traded near 68 cents, down 5% on the day.

Key Takeaways

• Shares of Tesco declined more than 2% following Q1 UK like-for-like sales growth of only 1.8%, below market expectations
• Total group like-for-like sales reached £16.83 billion, with UK food sales advancing 2.6% and fresh food climbing 3.6%
• The Booker wholesale division struggled with like-for-like sales declining 3.2%, worse than the anticipated 2.4% drop
• Company reaffirmed full-year outlook: adjusted operating profit between £3–£3.3 billion and free cash flow of £1.5–£2 billion
• Chief Executive Ken Murphy attributed the weakness to challenging weather-related comparisons versus the prior year period

Shares of Tesco tumbled over 2% during Thursday’s trading session, hovering near 445p, following the release of first-quarter results that showed sales expansion trailing market forecasts for Britain’s leading grocery retailer.

Tesco PLC, TSCO.L

For the 13-week period concluding May 30, UK like-for-like sales advanced 1.8%. This figure fell at the lower boundary of consensus estimates and trailed Visible Alpha projections by approximately 50 basis points, representing a notable deceleration from the previous year’s growth trajectory.

Chief Executive Ken Murphy moved swiftly to downplay concerns. During a media briefing, he emphasized that weather patterns played a significant role in the outcome, noting that the comparison period from last year benefited from “outstanding” climatic conditions that unusually elevated performance.

“I wouldn’t be reading too much into it,” Murphy stated.

Overall group like-for-like sales similarly increased 1.8%, totaling £16.83 billion. Within the UK market, food sales posted a 2.6% gain, while fresh food categories delivered a stronger 3.6% uptick.

Analysts at Bernstein echoed Murphy’s assessment, characterizing the deceleration as likely seasonal and transitory. The firm identified moderating food price inflation, more difficult year-over-year comparisons, and weaker non-food category demand as primary drivers — rather than any fundamental deterioration in Tesco’s market standing.

Wholesale Division Struggles

The Booker wholesale operation emerged as an additional area of concern. Like-for-like sales in this segment contracted 3.2%, falling short of analyst projections for a 2.4% decrease.

Core retail sales within Booker declined 1.5%, partially attributable to the loss of a significant national customer account. The catering segment experienced a 3.3% downturn, which management linked to adverse weather conditions and Easter calendar timing.

Notwithstanding the top-line shortfall, Tesco maintained its full-year financial guidance. The company continues to project adjusted operating profit in the £3 billion to £3.3 billion range, alongside free cash flow between £1.5 billion and £2 billion for fiscal 2026/27.

Positive Developments Emerge

Beyond UK borders, Tesco’s Republic of Ireland operations delivered like-for-like growth of 3.3%, surpassing analyst expectations. Central European markets contributed 0.8% growth. Digital sales throughout international markets surged 17.4%.

Customer sentiment indicators also showed improvement. Tesco’s UK net promoter score advanced six points on a year-over-year basis. The retailer expanded its Aldi Price Match program into convenience store locations as part of its value-focused competitive strategy.

Management noted that Middle East geopolitical tensions have not materially impacted operations to date, though acknowledged the situation could potentially contribute to inflationary headwinds in subsequent quarters.

Regarding capital allocation, Tesco has executed £341 million in share repurchases since initiating its £750 million buyback program in April.