Lookonchain
A whale wallet tied to ShapeShift founder Erik Voorhees has returned to the ETH bid, spending another 1.12 million USDC to scoop up 494 ETH roughly nine hours ago. The accumulation is consistent and deliberate — this isn't a one-off swing trade.
The wallet now holds 127,716 ETH, a position currently valued at approximately $292 million. At that scale, the buying pressure is meaningful: sustained stablecoin-to-ETH conversion of this size signals genuine conviction rather than opportunistic dip-buying.
Voorhees has long been a vocal advocate for crypto's foundational role in open finance. A $292M ETH stack from a wallet in his orbit is the kind of whale signal that on-chain watchers treat as a directional read on where smart money sees value right now.
CoinTelegraph
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