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SharpLink Receives $145 Million USDC and Increases Ethereum Holdings

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by Giorgi Kostiuk

7 days ago

SharpLink, moving towards becoming a 'MicroStrategy for Ethereum', received $145 million USDC from Circle's wallet and plans to increase its cryptocurrency reserves.

Receiving Funds from Circle

SharpLink recently received $145 million USDC from the Circle wallet. It is thought that these funds may have been newly minted, as their inflow is linked to the company's share sales to increase Ethereum accumulations.

SharpLink's Ethereum Holdings Status

Currently, SharpLink has not purchased any ETH for a week and holds approximately 360,900 ETH in its wallet, totaling around $1.34 billion.

Future Cryptocurrency Investments

SharpLink transferred the $145 million USDC to its Galaxy Digital wallet, suggesting the potential for new investments in Ethereum. Previously, the company acquired 74,656 ETH between July 7 and 13, boosting its total holdings to 280,706 ETH.

SharpLink continues to strategically manage its investments in Ethereum, remaining one of the largest institutional holders of this cryptocurrency.

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