SharpLink Gaming continues its active ETH purchases, recently announcing the acquisition of 10,000 tokens from the Ethereum Foundation. This deal confirms the company's status as the largest publicly traded ETH holder globally.
Details of the Acquisition
SharpLink Gaming reported the purchase of 10,000 ETH for $25.7 million at an average price of $2,572 per token. This deal was announced via social media platform X and follows a previous purchase in June, where the company acquired 176,270.69 ETH for $462.9 million.
Strategic Collaboration with the Ethereum Foundation
The direct purchase of ETH from the Ethereum Foundation suggests a possible strategic partnership, especially since over 95% of SharpLink's ETH is staked, yielding 4-6% annually. SharpLink's Chairman, Joseph Lubin, stated, "As Ethereum enters a new era of institutional relevance, we are proud to support its long-term strength and decentralization mission."
Market Changes for Ethereum
At the time of writing, the price of ETH has risen to ~$2,985, reflecting a 16% increase since SharpLink's purchase. This price action shows a growth trend in the Ethereum market, having surged nearly 8% over the past 24 hours.
SharpLink Gaming's acquisition highlights the growing interest of institutional investors in ETH and underscores the importance of strategic collaboration with foundations and the Ethereum ecosystem. In the context of stable growth in digital asset prices, the company emphasizes its long-term strategy in support of and developing Ethereum.
