Andrew Kang’s Mechanism Capital Flips ETH From Long to Short, ETH Short Reaches $59.78M in On-Chain Rebalance

COINOTAG News, citing on-chain analytics firm CoinBob, notes that the wallet linked to Mechanism Capital co‑founder Andrew Kang (address 0x0b5) has again rebalanced its crypto exposure. The report indicates profit-taking on an ETH long and a subsequent tilt into a short stance, signaling a tactical rotation within a concentrated digital asset book.

A day earlier, Kang adjusted his posture by closing all shorts and opening longs on ETH, BTC, and SOL, while expanding a long ENA position. Today, the balance shifted back toward bearish bets: BTC short valued at roughly $31 million, ETH short around $59.78 million, and ENA long near $22 million. The aggregate monthly trading volume runs about $176 million, with total open exposure near $26.64 million. All legs sit in floating profit, with several lines touching gains exceeding 70%.

These moves illustrate active risk management and hedging activity in a private portfolio, rather than speculative bets. Investors should watch on-chain signals and liquidity dynamics to contextualize the stance.