Erik Voorhees and OGs load up as ETH outperforms large-caps, rises ~9% to $2,280

first published 2026-03-16T07:40:54Z

Early Bitcoin adopter Erik Voorhees resumed large ETH purchases, spending about $49M USDT via DeFi routes (e.g., CoW Protocol) to acquire nearly 24,000 ETH at an average price of $2,098. Lookonchain flagged the activity; Voorhees still holds roughly $35.25M in stablecoins (USDT and AETHUSDT). Additional moves this week: an early Ethereum builder bought ~$17.46M for ~7,769 ETH (avg $2,248); a whale closed a BTC perpetual long, withdrew >7M USDC and bought 1,827 ETH (now ~12,028 ETH); trading firm Cumberland withdrew ~23,000 ETH (~$50.1M) from exchanges. The buying wave has propelled ETH up ~7.6% in 24 hours, clearing $2,200 and trading near $2,270.

AI Analysis

Multiple on-chain, concrete transactions: Voorhees purchased ~24,000 ETH for $49M via DeFi (avg $2,098); other buyers bought ~7,769 ETH ($17.46M) and 1,827 ETH after converting withdrawn USDC; Cumberland withdrew ~23,000 ETH from exchanges. These are verifiable on-chain flows and coincide with a ~7.6% 24h price rise to ~$2,270.

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