SharpLink Ether Treasury Near $2B, dey Eye 1M ETH Milestone
SharpLink, Joe Lubin Ethereum treasury company, don don gather 521,939 ETH (like $1.9 billion) for their Ether treasury, dem buy 83,561 ETH at average price of $3,634 between July 28 and August 3. The company ETH-per-share rise to 3.66 from 3.40, up 83% since dem start the Ether treasury strategy on June 2. All assets dey staked, wey dey generate 929 ETH (over $3.3 million) for staking rewards. SharpLink don dey halfway to meet their 1 million ETH milestone.
While SharpLink dey speed up their collecting, Bitmain Immersion Technologies still be the biggest ETH treasury holder with 833,100 ETH (~$3 billion). Industry leaders like Tom Lee talk say both Bitcoin and Ethereum treasuries dey show say institution people Dem want am, and dem compare am to scarce stocks.
ETH price don fall 2% to about $3,575 as market cool down; if e drop below $3,400, e fit trigger a deeper correction. Still, increasing demand for treasury and staking yields dey show say Ethereum get long-term strong fundamentals.
Bullish
SharpLink don dey quickly gather over 520,000 ETH plus the staking rewards, e show say big big institution level confidence dey for Ethereum long term value. Dem milestone-based treasury builds like how Grayscale dey add more Bitcoin trust, na wetin dey usually tighten supply and support price floor. Even though ETH don see small 2% drop short time, the big treasury buying plus steady staking rewards dey always boost market feelings. This kind buying pressure and yield fit bring back better momentum pass $3,600 and make the bullish outlook strong. Long run, as institution dem dey build their treasuries big, dem fit dey collect di circulating supply, reduce risk of price fall and make Ethereum dey more attractive as asset wey dey give yield.