According to TechFlow, on October 10, Andrew Kang, co-founder of Mechanism Capital, expressed his concerns about the current leverage level of Ethereum (ETH) on the social platform X. Kang pointed out that ETH's leverage has returned to the high level during the previous ETF hype. "Is there a good reason to explain that this phenomenon is driven by non-directional long positions? If not, then this will put pressure on ETH."