SharpLink Gaming Emerges as Second-Largest Ethereum Holder Following $30M Acquisition from Ethereum Foundation

2025-07-11 16:59:49

Main Idea

SharpLink Gaming's $30M Ethereum acquisition from the Ethereum Foundation positions it as the second-largest Ethereum holder, reflecting its strategic move into Ethereum asset management amid a market rally.

Key Points

1. SharpLink Gaming purchased 10,000 Ethereum tokens (worth ~$30M) from the Ethereum Foundation in an OTC transaction at ~$2,600 per ETH.

2. This acquisition makes SharpLink the second-largest Ethereum holder, managing ~215,000 ETH ($644M), just behind the Ethereum Foundation.

3. Ethereum's price surged above $3,000 (a 17% increase), coinciding with SharpLink's stock price rising 71% in the past week.

4. The Ethereum Foundation avoided market impact by selling directly to SharpLink, raising funds for development without flooding the secondary market.

5. SharpLink aims to leverage DeFi and staking for treasury growth, with support from industry figures like Ethereum co-founder Joe Lubin.

Description

SharpLink Gaming has emerged as the second-largest Ethereum treasury firm after acquiring $30 million worth of Ethereum from the Ethereum Foundation, signaling a strategic shift in crypto asset management. This

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