Mechanism Capital partner Andrew Kang revealed his latest operation: a large purchase of Ethereum put options. This influential investor in the industry disclosed that each contract costs only $15, but if Ethereum drops to $3000, the return will reach $400 to $1000. This is quite an astonishing risk-reward ratio.
Just the day before, Andrew strongly criticized the bullish views on Ethereum on social media, even comparing ETH to "Luna 2.0". He systematically argued from multiple angles why Ethereum's current valuation is untenable. In his view, stablecoin yields, the so-called "digital oil" concept, and institutional adoption prospects are all reasons that lack foundation.
This public bearish strategy is not just a disclosure of investment operations; it is more like a declaration of war. At the sensitive moment when ETH has just fallen below 4000 USD, such statements will undoubtedly exacerbate market panic.
But this is how investment works; when most people are still hesitating, the real players have already bet with real money. Andrew's actions remind us that there are always different voices in the market; the key is to have our own judgment
