Andrew Kang: Has Bought a Large Amount of ETH Short-Term Put Options

ChainCatcher news, Mechanism Capital partner Andrew Kang tweeted that he has bought a large amount of short-term ETH put options. Each contract cost $15, and if ETH drops to the $3,000 range, he will gain $400-1,000.

According to previous reports, Andrew Kang cited his article criticizing Tom Lee, stating, "Ethereum is Luna 2." In the article, Andrew Kang bluntly said that Tom Lee's theory about ETH is "idiotic," and refuted it with five main points, causing a stir in the industry: the adoption of stablecoins and RWA will not bring the expected returns; the analogy of Ethereum as "digital oil" is inaccurate; institutions buying and staking ETH? Pure fantasy; ETH being equivalent to the total value of all financial infrastructure companies? Utterly absurd; technical analysis shows ETH is still in a multi-year sideways range, and the most recent rally was ruthlessly rejected after touching the upper boundary.