Andrew Kang: Has significantly bought ETH short-term put options

ChainCatcher news, Mechanism Capital partner Andrew Kang tweeted that he has bought a large number of ETH short-term put options. Each contract costs $15, and if ETH drops to the $3000 range, he will gain $400-1000.

Earlier reports indicated that Andrew Kang, while quoting his article criticizing Tom Lee, stated, "Ethereum is Luna 2." In the article, Andrew Kang bluntly called Tom Lee's theory about ETH "like an idiot," and presented five major points to refute it, stirring up waves in the industry, namely: the popularization of stablecoins and RWA will not bring the expected returns; the analogy of Ethereum as "digital oil" is inaccurate; institutional buying and staking of ETH? Pure fantasy; ETH equating to the total value of all financial infrastructure companies? Utterly ridiculous; technical analysis shows that ETH is clearly still in a multi-year sideways range, and the recent rise was even ruthlessly pushed back after reaching the upper boundary.