ETH Leverage Ratio Returns To ETF Hype Levels

According to Odaily, Mechanism Capital co-founder Andrew Kang recently commented on the X platform about the current state of Ethereum (ETH) leverage. Kang noted that the ETH leverage ratio has returned to levels seen during the ETF hype period. He questioned whether there is a solid reason to explain this phenomenon as being driven by non-directional long positions. Kang warned that if this is not the case, it could put pressure on ETH.