In recent days, large investors have significantly intensified their activity in the Ethereum market, purchasing the cryptocurrency for tens of millions of dollars. This trend is accompanied by a rise in the asset’s price, which has exceeded the $2250 mark.
This is reported by Finway
Purchases by Notable Players and Market Movements
Analytical services Arkham and Lookonchain report that several wallets associated with user 0xbilly have made purchases of Ethereum totaling around $17.5 million. 0xbilly is known as one of the early members of the Ethereum community, active in the network’s development since 2014, who regularly participated in discussions on protocol governance forums.
“0xbilly is an Ethereum OG who was active in Ethereum’s formative years from 2014 onwards, and who was a frequent voice on Ethereum discussion threads and governance forums – but no one has…”
Another significant player, ShapeShift crypto platform founder Erik Voorhees, has also increased his positions in ETH. Analysts note that Voorhees initially invested 17.75 million USDT, acquiring 8576 ETH at an average price of $2069. Later, through two different wallets, he managed to increase his Ethereum holdings to 23,393 ETH, spending a total of $49.08 million at an average price of $2098.
The Market Responds with Growth and New Strategies
The demand for Ethereum was also confirmed by a newly created wallet that withdrew 20,000 ETH from the Coinbase exchange, amounting to around $44.83 million. This indicates a growing interest in the asset among institutional players.
Additionally, another so-called crypto whale changed its trading strategy: it closed a long position in the Bitcoin pair with a profit of $1.88 million, withdrew 7.1 million USDC from the Hyperliquid platform, and converted these funds into spot Ethereum. As a result, this investor acquired 1827 ETH, bringing the total reserve in cryptocurrency to 12,028 ETH, worth approximately $24.97 million.
Against the backdrop of large purchases by major players, the price of Ethereum continues to rise. As of mid-March 2026, the ETH/USDT exchange rate on Binance exceeded $2250.
It is also worth noting that earlier, analysts from CryptoQuant warned that Ethereum could drop to $1500 due to the “acceptance paradox,” but currently, the market is demonstrating the opposite trend.