ChainCatcher report: According to market sources, since March 10, four wallets potentially belonging to the same entity have spent 187.31 million USDT to purchase 86,268 ETH at a price of $2,171. More than a year ago, these wallets collectively sold 53,799 ETH at $3,578, receiving 192.47 million USDT in return. Previously, while tracking these wallets, the analyst found that they had received ETH from ShapeShift ten years ago, and Arkham AI has labeled them as “Erik.” The analyst believes these four wallets may also control additional wallets.
Entity spends $187M to purchase 86,268 ETH since March 10
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Summary
An entity has spent $187 million to purchase 86,268 ETH since March 10, at an average price of $2,171 per ETH. The same wallets previously sold 53,799 ETH at $3,578 in 2023, earning $192.47 million. These wallets, labeled "Erik" by Arkham AI, received ETH from ShapeShift over a decade ago. Analysts note the move reflects a favorable risk-to-reward ratio, with potential support and resistance levels likely to be tested as the entity may control additional wallets.
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