According to on-chain analyst Ai姨 (@ai_9684xtpa), the address associated with ShapeShift founder Erik Voorhees (0x71D…8B9B8) purchased an additional 17,084 ETH over the past four hours at an average price of $2,148.80, totaling approximately $36.71 million. Since March 10, the address’s cumulative ETH holdings have increased to 103,389 ETH, with a total value of approximately $222 million and an average acquisition cost of $2,164.72. Notably, Erik Voorhees denied on March 17 that the address belongs to him; however, its funding sources suggest a possible connection, and it may also be linked to institutions or large holders that have previously interacted with him.
Erik Voorhees-linked address purchases 17,084 ETH worth $36.71M in 4 hours
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Summary
An address linked to Erik Voorhees, founder of ShapeShift, purchased 17,084 ETH at an average price of $2,148.80 per ETH, totaling $36.71 million over four hours. As of March 10, the address held 103,389 ETH, valued at $222 million, with an average cost basis of $2,164.72. Although Voorhees denied ownership on March 17, the transaction history still suggests a potential connection. ETH analysis indicates the move may be associated with an institution or whale with prior ties to him.
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