SharpLink Gaming has finalized a deal to purchase 11,259 ETH for approximately $43 million, increasing its total Ethereum holdings to over $1.73 billion.
SharpLink Gaming's ETH Acquisition
SharpLink Gaming, backed by Ethereum co-founder Joseph Lubin, purchased 11,259 ETH through an OTC deal with Galaxy Digital at a price of $3,828 per unit. With this latest purchase, the company's total assets in Ethereum reached 449,276 ETH, representing a market value of over $1.73 billion.
Stock Market Reaction
At the time of writing, SharpLink Gaming's stock jumped more than 4% in pre-market trading. The closing price reflected a 2.52% increase, affirming the optimistic sentiment among investors, as the company’s stock has rallied nearly 97% over the past month.
Ethereum Price Predictions
Analysts predict that Ethereum may reach $4,000 soon, driven by significant whale accumulation and increased investment flows. As the ETH price fluctuated between $3,683 and $3,877, discussions around potential price hikes in the next 12-24 months are underway.
SharpLink Gaming continues to actively expand its Ethereum holdings, which, combined with positive analyst forecasts regarding ETH pricing, sets the stage for potential growth both for the company and the broader cryptocurrency market.
