SharpLink Gaming Reclaims Top Public ETH Holder with $259M Buy
SharpLink Gaming completed a record ETH purchase of 79,949 Ether for $258.9 million at an average price of $3,238 each. This follows last week’s $49 million buy and raises its digital treasury holdings to 360,807 ETH (≈$1.3 billion). Since launching its digital treasury strategy on June 2, SharpLink Gaming has also earned 567 ETH in staking rewards.
This ETH purchase reclaims the top public ETH holder status from BitMine, which holds 300,657 ETH after its $250 million private placement. The intensifying competition and growing institutional demand highlight corporate support for Ethereum. Traders should watch for price support around current levels and potential volatility as public ETH accumulation accelerates.
Bullish
SharpLink Gaming’s large ETH purchase signals strong institutional demand and reduces available supply, likely providing near-term price support for Ethereum. The reclaiming of top public holder status underscores growing corporate competition and confidence in ETH’s long-term value. While short-term volatility may rise as firms race to accumulate, the overall impact is bullish, driven by sustained corporate treasury strategies and staking yield incentives.