SharpLink Gaming made a remarkable purchase, absorbing 77,210 ETH for $295 million, significantly outstripping Ethereum's monthly issuance.
A Record Operation: SharpLink Buys ETH
SharpLink Gaming acquired 77,210 ETH for $295 million in an on-chain operation executed between July 27 and July 28. This purchase volume exceeds the net amount of Ethereum issued in the last 30 days, which was 72,795 ETH. This creates an impressive scarcity dynamic, following Ethereum's transition to Proof-of-Stake.
Second Largest ETH Holder
Considering SharpLink's acquisition, its crypto portfolio now stands at 438,017 ETH valued at approximately $1.69 billion. SharpLink is now the second-largest publicly traded holder of Ethereum, following BitMine Immersion Technologies. The company’s management indicates a rising influence, highlighted by the appointment of Joseph Chalom, a former BlackRock executive, as co-CEO.
Ethereum's Future Prospects
From July 9 to 25, 2025, Ethereum ETFs recorded 17 consecutive days of net inflows, setting new records for a crypto asset. This coincides with SharpLink's massive purchase, raising questions about Ethereum's future value. Predictions suggest that the synergy between institutional purchases and surging demand could drive Ethereum's price to $5,000 by the end of 2025.
SharpLink's operation marks a significant turning point in institutional strategies, opening up new horizons for Ethereum as a digital asset amid increasing scarcity and growing institutional interest.
