Mechanism Capital Partner Allegedly Engages in High-Leverage Ethereum Short

According to PANews, a wallet suspected to be linked to Mechanism Capital partner Andrew Kang has reportedly engaged in a high-leverage short position involving 22,271 Ethereum (ETH). The position, valued at approximately $86.35 million, was executed with a 25x leverage at an average price of $3,926.95 per ETH, currently yielding an unrealized profit of $1.17 million. In addition to the Ethereum short, the wallet also holds a short position in Solana (SOL) valued at $5.67 million and a long position in ENA worth $584,000. These transactions highlight significant market activity and risk-taking strategies associated with the wallet's operations.