USD/JPY trading volume exceeds Bitcoin on DeFi platform Gains Network

Bitget App

Trade smarter

Cointime2023/10/26 13:15

By:Cointime

Tading volume of USD/JPY on the DeFi platform Gains Network has surpassed that of Bitcoin, and today there was a large leveraged short position of 8.26 million USD in the USD/JPY pair. Some traders have established a large number of leveraged short positions in USD/JPY and EUR/JPY on the platform, betting on the appreciation of the yen. Perhaps these market participants expect the Bank of Japan to intervene in the foreign exchange market to prevent the yen from falling.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

European Central Bank President Christine Lagarde said bitcoin is not an option as a reserve asset for the Eurozone’s central bank reserves, citing liquidity, security and regulatory concerns.Meanwhile, the Czech National Bank approved a proposal from Governor Aleš Michl to assess diversifying some of its country’s reserves into bitcoin.

The Block•2025/01/30 21:34

'Inevitable collapse': Trump’s crypto push sparks concern at Paul Singer's Elliott Management: FT

The hedge fund said in a new investor letter that the “inevitable collapse” of the crypto bubble “could wreak havoc,” according to the Financial Times.Elliott’s Paul Singer has never been a fan of crypto, telling WSJ in 2023 that cryptocurrencies are “completely lacking in any value.”

The Block•2025/01/30 21:34