Ethereum Foundation completed a sale of 10,000 Ethers through an OTC deal, valued at an average price of $2,572.37. This occurred amidst rising cryptocurrency prices.
Ethereum Foundation Deal
On Friday, Ethereum Foundation announced the completion of a sale of 10,000 Ethers via an OTC deal. The average sale price was $2,572.37. At the time of writing, the price of Ether had risen nearly 16%, hovering just below $3,000.
"Our OTC counterparty was Sharplink Gaming," the foundation stated.
SharpLink Gaming Strategy
SharpLink Gaming reported that it paid over $25 million for the ETH. The transaction was closed on Thursday. According to Nansen data, ETH was trading in a range from $2,759 to $2,981, still at least 6.7% higher than the agreed sale price.
At the same time, SharpLink Gaming announced an Ethereum-based corporate treasury strategy and nominated Ethereum co-founder Joseph Lubin as chairman of its board of directors in late May.
Ethereum Price Surge
The announcement of the sale coincides with Bitcoin reaching new highs above $112,000. According to Nansen data, Ether reached a high of $3,028 earlier today and currently trades just below $3,000.
The rally was also driven by significant inflows into cryptocurrency ETFs, marking the second-largest daily inflow since their inception, with Ether spot ETFs seeing a total net inflow of $383.1 million on Thursday alone.
Overall, the Ethereum Foundation's sale, coupled with the price surge, highlights current trends and demand in the cryptocurrency sphere, particularly with the implementation of new strategies such as that of SharpLink Gaming.
