ShapeShift Founder Erik Voorhees Invests in Ethereum Amid Market Volatility

Erik Voorhees, the founder of cryptocurrency exchange ShapeShift, has made a substantial investment in Ethereum (ETH). According to on-chain data platform Lookonchain, Voorhees purchased approximately 9,911 ETH using USDC. The total value of the transaction was reported to be $20.38 million.

This purchase follows a significant sale by Voorhees last year, where he sold 11,616 ETH for $33.94 million. Market observers note that large-scale transactions can send important signals regarding investor confidence and market expectations.