What SharpLink’s $115M ETH buy means for Ethereum’s next move

Key Points

1. SharpLink acquired 144,501 ETH (worth ~$515M) over nine days, including a recent $115M purchase of 32,892 ETH.

2. On-chain data shows rising ETH demand on U.S.-based exchanges, particularly Coinbase, suggesting institutional and whale activity.

3. The Coinbase premium (higher ETH prices on Coinbase vs. global platforms) hints at U.S. investors accumulating ETH, possibly anticipating ETF developments or price surges.

4. ETH's price surged 7% in 24 hours and nearly 30% weekly, with institutional buying and Coinbase Premium trends supporting a potential sustained uptrend.

5. The accumulation aligns with broader market speculation around Ethereum's spot ETF approval and renewed whale interest.