Ethereum Treasury SharpLink Shares Plunge 20% Amid $6 Billion Plan to Buy More ETH

Key Points

1. SharpLink Gaming shares dropped over 20% on Friday following substantial Ethereum purchases of $48 million and $225 million earlier in the week.

2. The company has become the world's largest corporate accumulator of ETH, holding approximately $1.3 billion worth of Ethereum.

3. Ethereum's price dipped 2% in 24 hours but has risen over 41% in the past 14 days, driven by increased corporate acquisitions and optimism about the Ethereum network.

4. Other companies like Bit Digital and BitMine Immersion have also expanded their Ethereum holdings, with BitMine surpassing $1 billion in ETH.

5. This trend mirrors MicroStrategy's earlier shift from software development to Bitcoin accumulation, highlighting a growing corporate interest in cryptocurrency investments.