Andrew Kang-linked address flips from ETH short to long, fully shifting to the bullish camp

BlockBeats News, October 17, according to HyperInsight monitoring, the address (0x0b5) associated with Mechanism Capital co-founder Andrew Kang completed a position adjustment within one hour: all ETH short positions have been closed with profits taken, and then a long position was established at an average price of $3,783, currently holding 7,637 ETH. At the same time, this address significantly increased its long position in ENA by about 8.66 million tokens, and opened new long positions in BTC, SOL, and HYPE, with continuous rolling additions still ongoing.

According to further monitoring, after this address switched from short to long and added multiple new long positions, its total position value is approximately $57.6 million, but it is currently experiencing an unrealized loss of $660,000, which continues to expand. Its long positions are mainly concentrated in ETH ($28.5 million), SOL ($20.27 million), and ENA ($3.77 million). Earlier today, this address had shorted 22,200 ETH with 25x leverage, totaling about $86.74 million.