Erik Voorhees, founder of ShapeShift and a leading Bitcoin advocate, has resumed his Ethereum accumulation with a $49 million purchase of 23,393 ETH.
On-chain data from Lookonchain shows the transaction occurred across two wallets linked to Voorhees by Arkham Intelligence, though he has not publicly confirmed ownership. The purchases followed a year-long pause after selling over 12,800 ETH at prices exceeding $3,300.
The move coincides with Ethereum surpassing $2,200, marking a 7% gain in 24 hours. The broader crypto market rose 3%, pushing total capitalization to $2.5 trillion, while Bitcoin reclaimed $73,500.