SharpLink Gaming has reported the purchase of additional Ethereum, strengthening its position as the largest corporate holder of ETH.
SharpLink's Purchase
SharpLink Gaming acquired 56,533 Ethereum (ETH), raising the total value of its holdings to $3.7 billion. This announcement was made on Tuesday.
Leaders in ETH Holdings
Despite SharpLink's new acquisitions, the leader in Ethereum holdings remains BitMine Immersion Technologies with total assets reaching $7.7 billion. BitMine aims to hold 5% of the total ETH supply, which could be worth around $27 billion at current prices. Other notable investors in the top five include Coinbase, Bit Digital, and ETHZilla.
Ethereum's Recovery
The growing corporate interest in Ethereum is likely a primary reason for its rapid recovery. Currently, ETH is trading at $4,518 after dipping to $4,300. According to Matthew Sigel, head of digital assets at VanEck, this is the first time since 2021 that Bitcoin and Ethereum have exhibited different trends regarding drawdowns.
The interest of major companies in Ethereum continues to rise, yielding positive results and contributing to the cryptocurrency's recovery in the market.
