SharpLink Buys $48M in Ethereum, Lifts Stock Higher in Overnight Trade

2025-07-14 04:55:27

Main Idea

SharpLink Gaming purchased $48.85 million in Ethereum, continuing its significant investments in the cryptocurrency, while Ethereum's price surged past $3,000, leading to substantial liquidations of short positions.

Key Points

1. SharpLink Gaming acquired 16,374 ETH worth $48.85 million, following a previous purchase of 21,487 ETH for $63.7 million.

2. Ethereum's price rose 8.8% in 24 hours, surpassing $3,000 for the first time since early February, triggering $258.6 million in short liquidations.

3. SharpLink's shares surged 17.5% on Friday and 7.16% in Sunday trading, reflecting investor optimism around its Ethereum acquisitions.

4. Ethereum co-founder Joe Lubin, now chairman of SharpLink, emphasized the company's long-term commitment to Ethereum as a treasury asset and ecosystem steward.

5. Ethereum remains 38.3% below its all-time high of $4,878, despite recent price gains and increased institutional interest.