SharpLink has overtaken Ethereum Foundation in ether reserves, indicating a significant shift in corporate asset ownership in ether.
SharpLink and Ethereum Foundation Reserves
SharpLink has accumulated approximately 280,600 ETH (about $882 million), while Ethereum Foundation holds around 241,500 ETH (approximately $759 million). Additionally, PulseChain and BitMine Immersion Technologies occupy third and fourth places, with reserves valued at $522 million and $512 million, respectively.
Between July 7 and July 13, SharpLink purchased 74,656 ETH for $213 million at an average price of $2,852. "The current balance is approximately 280,706 ETH. Around 99.7% of these coins are staked or restaked. Since June 2, income generated from these activities has been about 415 ETH," company representatives reported.
Market and Ethereum Growth
Over the past 24 hours, Ethereum, the second-largest cryptocurrency by market capitalization, has grown by 6.3%, reaching an average price of $3,161, a level last seen in early February. At the same time, Bitcoin has risen by only 1.2% and is currently trading at $58,214.
"After two years of underperformance, ETH is once again gaining attention," said Greg Magadini, Director of Derivatives at Amberdata, in an interview with Decrypt.
Investments and the Future of Ethereum
Peter Thiel, co-founder of PayPal, and his investment firm Founders Fund recently acquired a 9.1% stake in BitMine Immersion Technologies. The 13G filing with the SEC indicates that entities linked to Thiel purchased 5,094,000 shares through various legal structures.
BitMine has also appointed Tom Lee, co-founder of Fundstrat, as its Chairman of the Board. Since the launch of its Ethereum strategy, BitMine shares have experienced high volatility, with closing prices ranging from $4.26 to as high as $135.
Despite its complexity, Ethereum continues to attract interest from corporate investors, and its adaptability may become a key factor in the future of financial instruments.
