SharpLink Gaming has made a substantial acquisition of Ethereum, increasing its assets and becoming the largest institutional holder of this cryptocurrency.
Key Acquisitions by SharpLink Gaming
From July 7 to July 13, SharpLink Gaming acquired 74,656 ETH worth $156 million at an average price of $2,852 per ETH. This new acquisition significantly boosts the company's portfolio.
Comparison with Ethereum Foundation
With the latest purchases, SharpLink Gaming's total assets stand at 280,706 ETH, making it the largest institutional holder of Ethereum, surpassing the Ethereum Foundation which holds 196,354 ETH valued at approximately $591 million.
Ownership Statistics and Staking Returns
SharpLink Gaming also reported that since adopting Ethereum as its primary treasury reserve asset, 99.7% of its assets have been staked, earning the company 415 ETH in rewards, including 94 ETH earned last week.
Thus, SharpLink Gaming has significantly increased its Ethereum holdings and strengthened its position in the cryptocurrency market, surpassing traditional players such as the Ethereum Foundation.
