A crypto trader utilizing Aster DEX achieved over 800% in profits over the course of a month, with gains exceeding $9 million. The trader, operating under the handle 0x89c3…A013, initially deposited $1 million on June 18 to short Yooldo (ESPORT).
On-chain data from AsterDEX explorer indicates that the trader successfully realized a profit of $4.28 million after partially closing the position. At the time of reporting, the trader had withdrawn the initial capital and continued to hold a significant position in ESPORT.
Despite the falling price of ESPORT, which has dropped more than 98% since mid-May to trade at around $0.01416, the trader maintained 137.73 million ESPORT valued at approximately $1.95 million in short positions. This currently results in about $4.77 million in unrealized profits.
The strategy employed by the trader involved using 1x use for the ESPORT/USDT pair, allowing substantial profits while mitigating risks associated with higher use trading. By opening the short position at around $0.05, the trader effectively anticipated a broader downturn in the crypto market.
As the macro crypto environment remains turbulent, the trader's position leaves room for further profit, contingent upon continued price declines of ESPORT.
This material is for informational purposes only and is not financial advice.
