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I noticed something interesting on the chain today. An address linked to Erik Voorhees, the founder of ShapeShift, just made a big ETH purchase — 2,103 tokens in a single day, for about 4.35 million USDT. Just that alone is already serious.
But what really caught my attention is that this is just the continuation of a massive accumulation over the past two weeks. Erik Voorhees and his address have accumulated a total of 122,355 ETH, amounting to 264.37 million USDT. The average purchase price is around $2,161 per ETH according to Lookonchain data.
When you see an investor of this caliber accumulating so much ETH in such a short period, it says something about the confidence he has in the project. Either it's a strong conviction, or he's anticipating something. Anyway, this is the kind of move traders watch closely, especially with Erik Voorhees, who is not known for making stupid bets.