SharpLink has once again acquired a significant amount of Ethereum, spending $54 million. The data shows that the company is actively increasing its investments in cryptocurrency.
Recent Purchases by SharpLink
SharpLink purchased 15,822 ETH in the past few hours, according to on-chain data. This purchase was split across multiple transactions, with the largest single transaction totaling around 6,914 ETH, worth approximately $23.56 million. The recent activity has raised the company's total haul to 480,031 ETH, worth about $1.65 billion at current prices.
Competition Among Firms
SharpLink is not the only company actively increasing its ETH reserves. The Ether Machine recently added 15,000 ETH to its portfolio, spending $56.9 million at an average price of around $3,809 per ETH. This positions them as the third-largest holder of Ethereum, behind SharpLink and BitMine, according to data from StrategicETHReserve.
Corporations Increasing Ethereum Holdings
Large corporations are increasingly investing in Ethereum, viewing the asset as a necessary part of their financial reserves, similar to Bitcoin. Ethereum is gaining more attention from companies that see its network as vital infrastructure for the digital economy. According to Ray Youssef, CEO of NoOnes, "Ethereum starts to look like a hybrid between tech equity and digital currency."
SharpLink's ongoing investments in Ethereum highlight the growing interest of large corporations in this digital asset. The company now holds a leading position among ETH holders, which may contribute to Ethereum's further rise among corporate investments.
