Four linked wallets have bought 86,268 ETH for $187.31M USDT since March 10, after selling 53,799 ETH at higher prices last year.
Four connected crypto wallets bought more than 86,000 ETH since March 10. The total value of these transactions is about 187.31 million USDT.
The scale and timing of the activity have drawn attention from blockchain tracking platforms.
Coordinated ETH purchases across wallets
On-chain data shows the wallets acquired 86,268 ETH at an average price of 2,171 USDT.
The transactions were executed over multiple days, and they followed a consistent pace. Each wallet carried out purchases within close time ranges.
The buying activity relied on USDT balances, which were moved into position before trades began.
This approach allowed the entity to execute large orders without sudden price swings. Observers noted that the trades were split into smaller segments.
Transaction records reveal a structured pattern in how funds were deployed.
The wallets appeared to follow similar steps, which indicates centralized control. This method also helped maintain liquidity during the accumulation period.
Earlier ETH sales at higher prices
More than a year ago, the same wallets sold 53,799 ETH for around 192.47 million USDT.
The average price during those sales was 3,578 USDT per ETH. This earlier activity took place during a stronger market phase.
Since March 10, 4 wallets likely linked to a single entity bought 86,268 $ETH for $187.31M $USDT at a price of $2,171.
More than a year ago, these wallets (combined) sold 53,799 $ETH for $192.47M $USDT at a price of $3,578.
Previously, while tracking them, we found these… pic.twitter.com/xAm0gk13bx
— Onchain Lens (@OnchainLens) March 19, 2026
The difference between the past sale price and the recent purchase price is notable.
It shows that the entity reduced holdings when prices were higher. Now, the wallets are increasing exposure during a lower price range.
Data comparisons suggest that the current holdings may exceed previous balances.
The entity has acquired more ETH than it sold before. This shift reflects a change in positioning over time.
Related Reading: Ethereum Surges Past $2.1K Resistance With Sights Set on $2.8K Next
Long-term links and identity tagging
Records show that the wallets received ETH from ShapeShift nearly ten years ago.
At that time, the platform was widely used for crypto exchanges. These early transfers have helped analysts trace the wallets’ origin.
Arkham AI has labeled the wallets as “Erik,” associated with Erik Voorhees.
This identification is based on transaction history and clustering analysis. No direct statement has confirmed this connection.
Monitoring groups continue to follow the wallets and related addresses.
One update stated, “We believe these wallets likely control additional addresses.” This suggests that the visible activity may be part of a broader structure.
