Crypto Trader’s $90K Bet Swells to $966K on 50x Bitcoin Long

A leveraged Bitcoin bet on Aster DEX has generated about $810,000 in unrealized gains for a trader identified as “0x0c85,” according to blockchain analytics platform Lookonchain.

The position consists of 49 BTC and carries 50x leverage, with the trader establishing the long at an average Bitcoin price of $64,172. Its notional value was about $3.95 million.

Lookonchain said the trader initially funded the Aster account with $90,000. As of this writing, the position was showing a 1,025% return as Bitcoin traded at $79,338, bringing the account value to roughly $966,000.

The gains remain unrealized because the Bitcoin position is still open.

Source: Lookonchain