Aster Trader Builds $9M Profit From 1x ESPORTS Short | BitMart News

A trader has built more than $9 million in profit from a single 1x short position on Yooldo Games’ ESPORTS token through decentralized perpetual exchange Aster.

The wallet deposited 1 million USDT on June 18 and used the balance to short ESPORTS. It later closed part of the position for $4.28 million in realized profit before withdrawing the original $1 million deposit.

The account retained $9.05 million after the withdrawal, leaving the trader’s initial capital off the platform while the remaining position stayed open. The trade produced an estimated 806% return in less than a month.

Earlier wallet activity placed the original short near 139.58 million ESPORTS, with an entry price around $0.07 and a notional value of approximately $9.44 million. The trader opened the position through a newly created wallet and used no additional leverage beyond the position’s 1x structure.

ESPORTS Trades Near Record Low

ESPORTS has fallen to about $0.0144, leaving the token roughly 80% below the trader’s reported entry level.

The Yooldo Games token has declined about 37% over the past week and remains close to its all-time low near $0.0139. It is down more than 98% from its $0.8094 record high, with its circulating market capitalization near $2.2 million.

Yooldo operates a multichain blockchain gaming platform, with ESPORTS used across its games and token-based services. The token has a maximum supply of 900 million.

The price collapse gave the short substantial room to move into profit without the liquidation pressure attached to higher-leverage positions. The trader began realizing gains as ESPORTS moved through the lower end of its trading range.

Open Position Holds $4.77 Million In Paper Gains

The trade adds another large onchain position to Aster’s expanding perpetual market, which supports crypto, equity and commodity-linked contracts.

Aster recently burned 6.02 million ASTER after upgrading a tokenomics model that redirects 99% of platform fees into ASTER purchases.

The trader still held a short covering 137.73 million ESPORTS when the position was tracked. The remaining contract carried a notional value of about $1.95 million and an unrealized profit of $4.77 million.

The post Aster Trader Builds $9M Profit From 1x ESPORTS Short appeared first on Crypto Adventure.

coinmarketcapOriginal link

Disclaimer: The market is risky, and investment needs to be cautious. This article does not constitute investment advice. Users should consider whether any opinions, views, or conclusions in this article are in line with their specific circumstances. Investment based on this is at their own risk.