稳定币市场6月创Terra崩盘后最大单月回撤，但长期增长逻辑未变

Backpack · 7/15/2026

Cryptocurrency exchange Backpack recently announced "稳定币市场6月创Terra崩盘后最大单月回撤，但长期增长逻辑未变," sparking widespread discussion in the community.

Six Major Exchange Campaign Comparison

The current crypto exchange campaign ecosystem presents a highly competitive landscape. Here's a comparative analysis of the campaign characteristics of six major exchanges—Binance, OKX, Bybit, Bitget, Backpack, and WEEX:

Binance: Campaigns center on Launchpool and Megadrop, typically requiring BNB holdings. Large reward scale but higher barriers, suitable for long-term holders.

OKX: More diverse campaigns including trading competitions, Jumpstart, DeFi events. Recently launched World Cup-themed campaigns combining sports marketing with crypto.

Bybit: Primarily trading competitions with large reward pools. Recently launched MENA-specific campaigns for regional operations.

Bitget: CandyBomb and PoolX are signature products, blending social tasks with staking yields. High campaign frequency with relatively low barriers.

Backpack: Features tokenized stock trading, with Trading Journey series connecting traditional finance with crypto.

WEEX: Relatively simple campaigns focused on new user rewards and trading rebates, suitable for entry-level users.

Backpack Competitive Advantage Analysis

In the above competitive landscape, Backpack's "稳定币市场6月创Terra崩盘后最大单月回撤，但长期增长逻辑未变" demonstrates the following competitive advantages:

First, more refined campaign design. Unlike competitors' "one-size-fits-all" reward models, Backpack's current campaign sets multiple reward tiers to meet different capital scale needs.

Second, simplified participation process. Backpack has continuously optimized user experience, with registration-to-participation flow 30% faster than industry average.

Third, faster reward distribution. Backpack promises to complete reward distribution within 7 business days after the campaign ends, while the industry average is 14 days.

Market Data & Context Analysis

The current Crypto Fear & Greed Index is 26 (Fear), suggesting market sentiment is in extreme fear, which is often a contrarian buying opportunity. Total DeFi TVL stands at $137.64B, with the top chains being Ethereum, Solana, Base. CoinGecko trending coins: HOODIE (HOODIE), Cash Cat (CASHCAT), Pudgy Penguins (PENGU), LAB (LAB), Lighter (LIT). Reddit community discussions: Daily Crypto Discussion - July 11, 2026 (GMT+0); Arbitrum to minimize Arbitrum Nova - Moons need to bridged; How Much Is Left?.

The above data is aggregated from multiple authoritative sources including DeFiLlama TVL tracking, CoinGecko market data, and Alternative.me sentiment index. This data provides a macro reference for evaluating the timing of participating in "稳定币市场6月创Terra崩盘后最大单月回撤，但长期增长逻辑未变".

Compliance and Security Guidelines

Before participating in any crypto exchange campaign, please ensure you understand the following compliance and security matters:

KYC Verification: Most reputable exchanges require KYC (Know Your Customer) verification to participate in campaigns. Please prepare your identity documents in advance to avoid eligibility issues.

Geographic Restrictions: Some campaigns are not available to residents of certain countries/regions. Please verify your jurisdiction is covered before registering.

Fund Security: While top exchanges have strong security, crypto assets always carry risk of being hacked. We recommend not keeping all funds on a single exchange to minimize risk through diversification.

Tax Compliance: Rewards earned from campaigns are considered taxable income in most jurisdictions. Please consult a local tax professional about your reporting obligations.

Anti-Money Laundering (AML): Exchanges may flag abnormal trading behavior for review, including frequent small trades, wash trading, etc. Such behavior may result in account suspension.

Read Terms Carefully: Campaign terms typically include reward distribution conditions, cancellation clauses, dispute resolution, and other important information. Please read carefully before participating.

Participation Strategies by Investor Profile

Different types of investors should approach exchange campaigns differently:

Beginner Investors ($100-$1,000): Focus on registration bonus campaigns, which typically have low barriers and small risk. Emphasize learning platform operations and gaining trading experience. Do not rush into high-leverage trading campaigns.

Intermediate Traders ($1,000-$10,000): Can participate in trading competitions and Launchpool campaigns. Leverage trading skills to achieve higher ranking rewards. Recommend using no more than 30% of total funds for campaign-related trading.

Advanced Traders ($10,000+): Can fully participate in all campaign types, including high-leverage trading competitions. Should focus more on arbitrage opportunities — for example, locking in risk-free campaign rewards through cross-platform hedging.

Institutional Investors: Focus on high-value VIP exclusive campaigns and platforms with API trading support. Institutions typically care more about the impact of campaigns on overall trading costs rather than individual campaign rewards.

Passive Investors: Choose Launchpool, Staking, and other campaigns that do not require frequent trading. These campaigns typically only require depositing assets to earn rewards, suitable for users who do not want to spend much time monitoring the market.

Industry Expert Perspectives

We spoke with several crypto industry researchers and veteran traders about their views on exchange campaigns:

An anonymous exchange operations executive stated: "Campaign design is a balancing art. Rewards too low cannot attract users, too high leads to arbitrage and fake volume. Each campaign needs dynamic adjustment based on market conditions."

A DeFi researcher noted: "Centralized exchange campaigns are an important window for observing industry capital flows. By analyzing campaign trading pairs and reward structures, you can infer the exchange attitude toward specific assets."

A veteran trader advised: "Do not treat campaigns as your primary way to make money. Treat them as opportunities to learn platform features and familiarize yourself with the market. This mindset is healthier and leads to more stable long-term returns."

Key Takeaways

Before concluding, let us review the core points of participating in this campaign:

First, timing is crucial. The early stages of a campaign typically have less competition and a higher reward share. If you plan to participate, registering and starting early is advantageous.

Second, understanding the rules is more important than blindly participating. Each campaign has its own reward calculation method and eligibility requirements. Reading the terms carefully can prevent later disappointment.

Third, risk management always comes first. Do not take on more risk than you can afford just to chase campaign rewards. Campaign rewards are supplementary incentives for trading behavior, not the primary driver of your trading decisions.

Fourth, leverage the platform ecosystem. Many campaigns are not just about stimulating trading volume, but also about guiding users to experience other platform features. Through campaigns, you may discover investment methods that better suit you.

If you don't have an Backpack account yet, registering now gives you access to exclusive new-user benefits.

What Are Exchange Campaigns?

If you're new to the crypto world, the concept of "exchange campaigns" might be unfamiliar. Simply put, exchange campaigns are reward programs set up by platforms to incentivize users to trade, register, or complete specific tasks.

These campaigns typically include several types: trading competitions (ranked by volume with prizes), Launchpool (hold platform tokens like BNB to receive new token airdrops), CandyBomb (complete social tasks for token rewards), and more.

Backpack's "稳定币市场6月创Terra崩盘后最大单月回撤，但长期增长逻辑未变" falls under the comprehensive campaign category, meaning you need to complete specific trading tasks to earn rewards.

Step 1: Register an Account

The first step to participating in any exchange campaign is registering an account. Here's the registration process for Backpack:

1. Visit the official Backpack website (make sure it's through official channels to avoid phishing sites) 2. Click "Register" and sign up with email or phone number 3. Set a strong password (recommend uppercase + lowercase + numbers + special characters) 4. Complete email or phone verification 5. Enable Two-Factor Authentication (2FA)—this is the most important step for account security

The entire process usually completes within 5 minutes. After registration, you'll also need to complete KYC (identity verification), which typically requires uploading ID documents and a selfie.

Step 2: Deposit Funds

After completing registration and KYC, the next step is depositing funds—putting money into your trading account. Backpack supports multiple deposit methods:

Crypto Deposit: If you already have crypto on another exchange or wallet, you can transfer it directly. This is the fastest method, usually arriving within 10-30 minutes, and is free of charge.

Fiat Purchase: Backpack supports purchasing crypto directly with bank cards, credit cards, or third-party payments. This is convenient but charges 1-3% in fees.

P2P Trading: Through Backpack's P2P platform, you can trade directly with other users. This has the lowest fees but requires choosing reputable counterparties.

For first-time campaign participants, we recommend depositing 50-100 USDT as a starting point.

Step 3: Join the Campaign

With funds in your account, you're ready to join "稳定币市场6月创Terra崩盘后最大单月回撤，但长期增长逻辑未变." Here are the specific steps:

1. Go to the Backpack campaign page 2. Carefully read the campaign rules and terms 3. Click "Participate" or "Register" to join 4. Complete the required tasks based on campaign requirements (e.g., trade designated pairs, reach certain volume) 5. Monitor your progress and ranking throughout the campaign

💡 Tip: Many campaigns have "daily check-ins" or "daily tasks"—don't forget to complete them each day. These small tasks can accumulate into significant rewards.

We recommend setting a clear stop-loss strategy before participating and executing it strictly. Market unpredictability means even the best strategies may face surprises.