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SharpLink Strengthens Position in Ethereum with $100 Million Acquisition

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by Giorgi Kostiuk

2 hours ago

SharpLink has allocated over $100 million for acquiring ETH as part of its strategy in the cryptocurrency market. This purchase positions the company among the major corporate holders of Ethereum.

SharpLink's ETH Purchase

According to Arkham Intelligence, SharpLink transferred over $108 million in USDC from a linked wallet to Galaxy Digital’s OTC desk to purchase approximately 31,900 ETH. This is not SharpLink's first large-scale buy.

Market Positions of Ethereum

SharpLink ranks as the second-largest corporate holder of Ethereum, with over 438,000 ETH in its treasury, surpassed only by BitMine, led by Tom Lee.

Market Outlook and Predictions for Ethereum

The recent purchase by SharpLink comes as Ethereum trades below its $3,900 local high. Eric Trump has urged investors to take advantage of the dip as a buying opportunity.

SharpLink continues to expand its Ethereum reserves amidst current market trends, highlighting the growing interest of companies in this cryptocurrency for the long term.

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