Ethereum continued its recovery and rose more than 8 percent within 24 hours, approaching the 2,300 dollar level on Monday. At the same time, blockchain data indicates renewed buying activity from several major investors.
Among the notable buyers is early Bitcoin supporter Erik Voorhees, founder of ShapeShift, who recently returned to purchasing Ether after a break of about one year.
Major Investors Increase Ethereum Holdings
According to blockchain analytics platform Lookonchain, Voorhees spent 49.08 million USDT to acquire 23,393 ETH through two separate wallets. The purchases were made at an average price of around 2,098 dollars per Ether. Despite the large acquisition, he still holds approximately 35.25 million USDT.
The same data shows that Voorhees had sold 12,886 ETH in the previous year when the asset was trading at roughly 3,320 dollars.
Other investors have also been increasing their exposure to Ethereum. A wallet linked to early Ethereum developer billΞ.eth spent about 17.46 million dollars to buy 7,769 ETH at an average price close to 2,248 dollars on Monday.
Another large investor identified as wallet 0x743d purchased 1,827 ETH for approximately 3.79 million dollars on the same day. Over the past four days, the same wallet has accumulated 11,985 ETH worth around 24.79 million dollars at an average price of about 2,068 dollars.
This wave of accumulation is happening alongside growing institutional interest. Data from spot Ethereum exchange traded funds shows increasing inflows from investors. Over the past week these funds recorded more than 160 million dollars in net inflows. Four trading sessions posted positive inflows while only one day showed net outflows.
Vitalik Buterin Previously Reduced Holdings
Earlier this year Vitalik Buterin, co founder of Ethereum, reduced part of his Ether holdings. Initially he had planned to sell about 16,384 ETH, but on chain data later showed that the total amount sold reached approximately 18,684 ETH.
The total value of these sales exceeded 38 million dollars. The transactions began in early February and were carried out gradually across several transfers from his wallets.
Buterin explained that the funds would support open source software and hardware projects, privacy technologies, and security focused infrastructure. He also described the sales as part of a broader period of financial restraint within the Ethereum Foundation.#crypto#cryptonews https://t.me/coinsignalpublic https://coinsignals.net
