Trader Earns $9.06M in Profits by Shorting ESPORTS on Aster DEX

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ESPORTS
$0.0344-7.02%
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A trader on Aster DEX used on-chain trading signals to short the ESPORTS token with 1x leverage, earning over $9.06 million in one month. The trader deposited 1 million USDT on June 18, realizing $4.28 million in profits, with an additional $1.95 million still unrealized from an open short position of 137.73 million ESPORTS. The initial deposit has been withdrawn, leaving $9.05 million in net profits. While value investing in crypto often emphasizes long-term gains, this trade underscores the potential of short-term strategies in volatile markets.

Huo Xing Finance reports, according to Lookonchain, a trader made over $9 million in profit in less than a month by shorting the ESPORTS token on the decentralized exchange Aster DEX, achieving a return of approximately 806%. On June 18, the trader deposited 1 million USDT into Aster and opened a 1x leveraged short position on ESPORTS. After partially closing the position, they realized a profit of $4.28 million and still hold approximately 137.73 million ESPORTS short positions, with an unrealized profit of about $1.95 million, leaving an additional $4.77 million in unrealized gains in the account. The trader has already withdrawn their initial $1 million deposit, and the remaining $9.05 million in the account consists entirely of profits.

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