Erik Voorhees, an early figure in the cryptocurrency sector and the founder of ShapeShift, has resumed buying Ethereum (ETH ($2,265.01 · Live)) after a break of almost a year.
According to on-chain data, Voorhees has made noteworthy moves in the market with its recent transactions.
According to the data, Voorhees sold 12,886 ETH approximately a year ago at an average price of $3,324, generating a total of approximately $42.83 million in sales. However, he appears to have recently started accumulating Ethereum again. Having spent a total of 17.75 million USDT ($1.00 · Live) in the last five days to buy 8,576 ETH at an average price of $2,069, Voorhees’ portfolio still contains approximately 26.77 million USDT, and it is estimated that these funds may be used for further ETH purchases in the coming days.
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On the other hand, it is noteworthy that Voorhees is making aggressive purchases not only in Ethereum but also in tokenized gold. According to on-chain data, the investor invested a total of $23.76 million in tokenized gold assets after a break of approximately one month. Within this scope, he purchased 2,834 XAUT ($4,971.41 · Live) (approximately $13.78 million) and 2,019 PAXG ($4,997.52 · Live) (approximately $9.97 million) through 28 new wallets he created since January 31st.
Voorhees’ tokenized gold purchases reportedly averaged around $4,896 per coin, resulting in an estimated upfront profit of approximately $513,000 based on current prices.
*This is not investment advice.
Continue Reading: Erik Voorhees, an Early Bitcoin Investor, Made a Transaction on Ethereum After a One-Year Hiatus
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