SharpLink stakes big on Ethereum: Are institutions moving away from BTC?

Key Points

1. SharpLink Gaming purchased an additional 77,210 ETH (worth ~$295M), bringing its total holdings to 438,017 ETH, much of which is staked for long-term growth.

2. Analysts, including Crypt Rover, predict ETH could reach $10,000 due to rising demand and tightening supply, supported by institutional accumulation.

3. SharpLink is now the second-largest ETH holder, trailing only Bitmine Immersion Tech (566,000 ETH), and aims to acquire over 1M ETH (1% of total supply).

4. ETH's price rose 1.12% to $3,871.72, with technical indicators like RSI suggesting bullish momentum, though a short-term dip may precede a breakout.

5. The move reflects institutional confidence in ETH's utility as a reserve asset, with SharpLink positioning itself at the intersection of traditional finance and Web3.