Mechanism Capital’s co-founder Andrew Kang recently made notable adjustments to his cryptocurrency holdings, as evidenced by BlockBeats on-chain data. He boosted his long position in ENA, raising the average price to $0.465 per unit and achieving a nominal value of about $4.08 million with an impressive return rate exceeding 90%. Further analysis reveals that Kang partially closed his ENA long position approximately 14 hours ago, opting to secure profits by shifting funds towards a short Bitcoin (BTC) position. This new position saw an average price point of roughly $113,600 and a nominal value of $3.2 million. However, as the Bitcoin market surged today, this short position has generated substantial losses exceeding 50%.