Nasdaq-Listed Company Sharplink Bets $25 Million on Ethereum – ETH Price to $10,000 Soon?

Key Points

1. SharpLink Gaming acquired 10,000 ETH from the Ethereum Foundation at an average price of $2,572.37 per ETH, totaling $25.7 million, in a rare direct transaction.

2. The Ethereum Foundation confirmed the sale, stating proceeds would support Ethereum's infrastructure, while SharpLink's purchase highlights strategic institutional involvement.

3. Ethereum's price surged past $3,000, with analysts predicting potential highs of $10,000, driven by institutional inflows, ETF demand, and on-chain supply dynamics.

4. US spot Ethereum ETFs recorded five consecutive days of net inflows, totaling over $623 million, with BlackRock's iShares ETH ETF setting a single-day record of $300.9 million.

5. On-chain data shows a potential 'supply shock,' with large wallets accumulating over 700,000 ETH since late May, reducing exchange supply to 13.5%.