SharpLink Gaming Acquires $49M in Ethereum as ETH Price Surpasses $3K
In a significant endorsement of Ethereum‘s market strength, NASDAQ-listed SharpLink Gaming has purchased $49 million worth of ETH. This strategic move coincides with Ethereum’s price recovery above $3,000, demonstrating growing institutional confidence in the cryptocurrency.
Transaction Details
- Amount: 16,370 ETH ($48.7 million)
- Source: Likely originated from Consensys, a leading Ethereum development firm
- Follows previous acquisition: 10,000 ETH from the Ethereum Foundation
Corporate Ethereum Holdings Reach New High
With this purchase, SharpLink Gaming now holds 198,300 ETH, establishing itself as the largest corporate Ethereum treasury. This development reflects broader trends in digital asset adoption among institutional investors.
Market Impact and Expert Perspective
“Corporate ETH acquisitions signal maturing confidence in Ethereum’s long-term value proposition,” noted a blockchain analyst. Following the announcement, ETH traded at $3,050, marking a 3.5% daily increase.
Growing Institutional Adoption
Total corporate Ethereum reserves now approach 1.34 million ETH ($4.1 billion), indicating sustained institutional interest in cryptocurrency as a treasury asset.
