A prominent derivatives trader identified as 0xdd6a has opened leveraged short positions worth $26.5 million across five major cryptocurrencies on Aster DEX, according to on-chain and market data. The 20x short basket covers Bitcoin, Ethereum, Solana, XRP, and Dogecoin, and is currently showing an unrealized profit of about $586,000.
The largest position is Ethereum at $9.33 million (3,629 ETH) with $163,000 in gains, followed by Solana at $8.52 million (73,728 SOL) with $141,000 in profit. Dogecoin contributes $4.24 million (48.37 million DOGE) and the largest individual gain of $224,000. Bitcoin accounts for $1.99 million (24 BTC) with $5,600 in gains, while the XRP leg was reported at 1.68 million XRP.
The positioning comes after BTC, ETH, and SOL rallied from mid-August to mid-September, then consolidated and lost momentum. With 20x leverage, a 5% adverse move could liquidate roughly half the account’s value. The concentrated short exposure highlights the increasing role of leveraged derivatives in price discovery and could amplify volatility or forced liquidation cascades if market direction reverses.
