Andrew Kang: Has bought a large amount of ETH short-term put options

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

Previously reported, Andrew Kang referenced his article criticizing Tom Lee, stating, "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, causing a stir in the industry, namely: the popularity 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 absurd; technical analysis shows ETH is clearly still in a multi-year sideways range, with the most recent rise being ruthlessly pushed back after reaching the upper boundary.