Two addresses linked to ShapeShift buy $111.6M in ETH

Two anonymous addresses, believed to be a single entity, have purchased 50,706 ETH, worth $111.62 million, at an average price of $2,201, Onchain Lens reported. The on-chain analysis firm noted that these addresses had consistently sold ETH over the past year but have now resumed large-scale accumulation. On-chain analyst EmberCN suggested that the two addresses are likely associated with Erik Voorhees, CEO of the cryptocurrency trading platform ShapeShift. According to EmberCN, a total of four addresses linked to Voorhees have accumulated 86,300 ETH, valued at $185 million, since March 10 at an average price of $2,152.