On August 2, 2025, the cryptocurrency market is buzzing, particularly around Ethereum (ETH) and its adoption by institutional players. SharpLink Gaming has announced significant expenditures in ETH, indicating a growing attention to this cryptocurrency.
The $100M Move: Transaction Details
A recent post from Arkham on X revealed that the address linked to SharpLink Gaming invested an additional $100 million to acquire ETH. According to the data, address 0xCd9e09B30d481cc33937CE33fEB3d94D434F5F75 has accumulated ETH worth $800 million. The latest transaction included a transfer of $108.6 million in USDC to Galaxy Digital OTC, with a portion converted into ETH. In recent days, multiple transactions ranging from $43.09 million to $55.57 million in USDC have confirmed active acquisitions.
Context of SharpLink’s Ethereum Treasury Strategy
SharpLink Gaming, well-known for its marketing in sports betting and iGaming, previously raised $425 million in May 2025 through a private placement to acquire ETH. This strategy highlights the importance of incorporating cryptocurrency into the company's financial structure. The $100 million investment further confirms the execution of this strategic plan, with the total funding being a critical factor in achieving corporate goals.
Market Reactions and Future Predictions
The X community has reacted to this news with excitement and speculation. Some users positively noted that SharpLink is making 'smart investments' in ETH, predicting possible price increases. Certain analysts even suggest that ETH could reach $10,000 this month. However, estimates indicate that as long as 'weak hands' remain in the market, SharpLink may continue its aggressive buying.
SharpLink Gaming's strategy demonstrates confidence in the long-term value of Ethereum and the activity of institutional investors in the cryptocurrency market. The future will reveal how these investments influence the overall dynamics of ETH.
