Ethereum extended its recovery wave and surged over 8% in the last 24 hours to climb to almost $2,300 on Monday.<\/p>\n
At the same time, blockchain data indicates fresh Ether purchases by a well-known early Bitcoin supporter.<\/p>\n
According to blockchain analytics platform Lookonchain, early Bitcoin supporter and founder of ShapeShift, Erik Voorhees, has resumed<\/a> buying Ether after a one-year break. Data revealed that Voorhees spent 49.08 million USDT to purchase 23,393 ETH at an average price of $2,098 through two wallets. He still holds 35.25 million USDT.<\/p>\n The firm also added that he had offloaded 12,886 ETH last year when Ether was trading at approximately $3,320.<\/p>\n Lookonchain noted that other investors have also been accumulating Ether alongside Voorhees. A wallet linked to an early Ethereum builder, \u201cbill\u039e.eth,\u201d spent $17.46 million to purchase 7,769 ETH at an average price of $2,248 on Monday. On the same day, another whale identified as wallet 0x743d bought 1,827 ETH for $3.79 million. Over the past four days, the same whale has spent $24.79 million to acquire 11,985 ETH at an average price of $2,068.<\/p>\n The renewed accumulation trend comes as institutional demand for the asset has also strengthened. Data from spot Ethereum ETFs shows<\/a> rising investor interest. These funds have recorded over $160 million in net inflows over the past week. During that period, four trading days registered positive inflows, while only one day posted net outflows.<\/p>\n On the other hand, Vitalik Buterin reduced<\/a> some of his ETH holdings earlier this year. The Ethereum co-founder sold more Ether than he had originally planned. Buterin had previously announced a plan to sell 16,384 ETH, but on-chain data found total disposals reached about 18,684 ETH.<\/p>\n The entire stash is worth over $38 million. The sales began in early February and occurred<\/a> in several stages as ETH was gradually sold from his wallets. Buterin said the funds would be used to support open-source software and hardware development, privacy tools, and security-focused infrastructure projects. He also described the move as part of a period of \u201cmild austerity\u201d for the Ethereum Foundation.<\/p>\n The post Bitcoin OG Erik Voorhees Buys Over 23,000 ETH as Ethereum Hits 6-Week High<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Ethereum extended its recovery wave and surged over 8% in the last 24 hours to climb to almost $2,300 on Monday. At the same time, blockchain data indicates fresh Ether purchases by a well-known early Bitcoin supporter. Whales, Builders, and ETFs Pile Into ETH According to blockchain analytics platform Lookonchain, early Bitcoin supporter and founder […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-142408","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/142408"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=142408"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/142408\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=142408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=142408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=142408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Buterin\u2019s ETH Sales<\/h2>\n