Andrew Kang: Has Accumulated a Significant Amount of ETH Put Options Betting on a Short-Term Price Drop

BlockBeats News, September 26th, Mechanism Capital partner Andrew Kang tweeted that he has heavily bought ETH short-term put options. Each contract cost $15, and if ETH falls to the $3000 range, he will receive $400-1000.

Prior to this, in a post referencing his criticism of Tom Lee yesterday, Andrew Kang stated, "Ethereum is Luna 2.0." In the article, Andrew Kang straightforwardly called Tom Lee's theory about ETH "foolish" and put forward five counterpoints, causing a stir in the industry, namely:

The widespread adoption of stablecoins and RWAs will not bring the expected benefits;

The analogy of Ethereum as "digital oil" is not accurate;

Institutional buying and staking of ETH? Pure fantasy;

Is ETH equivalent to the total value of all financial infrastructure companies? Extremely absurd;

Technical analysis shows that ETH is still clearly in a multi-year consolidation range, and the recent price increase was ruthlessly rejected after touching the upper boundary.