Looking at this data, Erik Voorhees' recent move is quite aggressive. Today, he directly sold 6,581 ETH at an average price of $4,161, cashing out approximately $27.38 million. This is the second time he has offloaded ETH since December 6 of last year.

Going back further, 9 years ago he took 14,945 ETH from ShapeShift, when ETH was only $7.74 each, with a total cost of just $115,600. If we calculate the current value of this batch, it would be worth $62.68 million, which is a multiple that would make traditional investors think twice.

Although a big shot's single sell-off may not shake the long-term trend of ETH, such a large volume of selling, combined with his influence in the community, will definitely cause some short-term market fluctuations. Many might have to ponder whether this is a signal from him regarding his bearish outlook on the short-term ETH market. $ETH