SharpLink Gaming, the largest publicly traded holder of Ethereum, has announced a significant increase in its cryptocurrency reserves, emphasizing its strategic investment approach.
Increase in Ethereum Holdings
SharpLink Gaming acquired an additional 12,207 ETH for $30.6 million at an average price of $2,513 per ETH between June 16 and 20. The firm now holds a total of 188,478 ETH, currently valued at approximately $460 million.
Staking Rewards
The company reports that all of its Ethereum holdings have been staked, resulting in 120 ETH in rewards since June 2, equating to around $293,000. The ETH per share growth has reached 19%.
Current ETH Price Condition
Currently, the price of Ethereum has been fluctuating around $2,440 after a minor gain in the day. Despite recent volatility, the asset has remained range-bound for the past nine weeks, needing to surpass $2,800 for further upward movement.
SharpLink Gaming displays confidence in Ethereum's value through its increased holdings, highlighting the growing interest of institutional investors in the cryptocurrency.
