SharpLink Loads Up on $180M Worth of ETH in 5 Days
2025-07-14 22:28:53
Main Idea
SharpLink Gaming has significantly increased its Ethereum (ETH) holdings, purchasing 60,582 ETH worth approximately $180 million over five days, leading to a 17% stock price increase.
Key Points
1. SharpLink Gaming purchased 60,582 ETH worth around $180 million in the five days leading up to July 14.
2. The company's stock (SBET on NASDAQ) rose by more than 17% in the past 24 hours following the news.
3. On July 14, SharpLink bought 16,374 ETH for about $49.03 million, bringing its total reserve to 270,000 ETH.
4. SharpLink has been accumulating ETH since May 26, with purchases including 176,271 ETH by mid-June and additional acquisitions in late June and early July.
5. All ETH held by SharpLink is used in staking and restaking protocols to earn on-chain yield, with staking rewards contributing to a yield increase from 2.00 to 2.37 ETH in three weeks.
Description
In the five days leading up to July 14, SharpLink Gaming purchased a total of 60,582 ETH worth approximately $180 million. The firm’s stock reacted positively to the news, increasing by more than 17% in the past 24 hours. The Latest $49M Buy According to an X post by blockchain analytics platform Lookonchain, the company bought 16,374 ETH on July 14, amounting to around $49.03 million. This brings its total reserve to 270,000 ETH, making it the largest publicly traded ETH treasury holder. SharpL...
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