SharpLink buys 10,000 ETH from Ethereum Foundation as Ether reclaims $3K

Key Points

1. The Ethereum Foundation sold 10,000 ETH to SharpLink Gaming via an over-the-counter deal at an average price of $2,572.37, just before Ether's price briefly exceeded $3,000.

2. SharpLink Gaming paid over $25 million for the ETH, which was trading 6.7% higher than the sale price at the time of the announcement.

3. SharpLink Gaming recently announced a $425 million private investment in public equity, with Ethereum co-founder Joseph Lubin joining its board and emphasizing the importance of ETH treasuries for ecosystem growth.

4. Ether's price rally coincided with increased investor interest in crypto ETFs, reaching a high of $3,028 before slightly retracing.

5. The Ethereum Foundation is transitioning to zero-knowledge proofs (ZK-proofs) for network operations, expected to complete within a year.