Ethereum whales have accumulated cryptocurrency worth tens of billions of dollars

Several large investors have bought tens of millions of dollars worth of Ethereum in recent days, according to Arkham and Lookonchain analytical platforms. This was an additional signal of demand for the asset, which rose above $ 2250.

According to Arkham, accounts associated with the user 0xbilly bought ETH for about $ 17.5 million. Analysts note that he has been active since 2014 and participated in discussions on the protocol’s development.

Separately, Lookonchain reported large-scale purchases by Eric Voorhees, the founder of ShapeShift and an early supporter of bitcoin. First, he spent 17.75 million USDT for 8,576 ETH, and later, two wallets later, he purchased a total of 23,393 ETH for $ 49.08 million.

Another newly created wallet withdrew 20,000 ETH worth $ 44.83 million from Coinbase. In addition, another major trader closed a profitable position in bitcoin, transferred 7.1 million USDC to the spot market, and brought his reserves to 12,028 ETH worth almost $ 25 million.

Against the backdrop of these purchases, Ethereum is showing growth, rising above $ 2250. Earlier, CryptoQuant warned that the asset could fall to $ 1500 due to the «paradox of acceptance,» but the latest actions of major players indicate the opposite trend.