Monster week for crypto treasury firms with $8B buying blitz

Key Points

1. Crypto treasury firms have allocated or used $7.8 billion to buy cryptocurrencies, with Ether being the most popular at $3 billion worth of ETH purchased.

2. Sharplink Gaming, the second-largest Ethereum treasury firm, bought $338 million worth of ETH in two separate transactions.

3. Two new Ether-focused companies emerged this week: ETHZilla Corporation ($425 million deal) and FG Nexus ($200 million deal).

4. Altcoins also saw significant interest, with Tron planning to raise $1 billion for its token, and other companies targeting Solana, Sui, or BNB.

5. Crypto treasury firms collectively hold over $100 billion in crypto, with $93 billion in Bitcoin, but face risks such as market downturns and structural fragility due to crowded trades.