SharpLink Gaming don buy $43M for ETH, dem get near 449K ETH
SharpLink Gaming wey dey listed for Nasdaq don boost dia Ethereum treasury, dem buy 11,259 ETH (wey dey around $43.09 million) at average price of 3,828 USDC per ETH for one OTC deal wey Galaxy Digital manage. The acquisition wey happen July 31 raise SharpLink total holdings to 449,276 ETH (near $1.73 billion), marking 21% increase in ETH assets for past ten days after dem buy 77,210 ETH (~$295 million) and 16,374 ETH (~$48.85 million) before. Now na second biggest institutional ETH holder after Bitmine Immersion Technologies, SharpLink still dey active for Ethereum Layer 2 network Linea to support token distribution and network growth. Dem aggressive crypto treasury strategy, like MicroStrategy Bitcoin reserves, don push SBET stock up 3% for early trading and almost 97% for last month. This move show say institutional people dey adopt ETH plenty and fit boost market feeling before possible ETH ETF approvals.
Bullish
SharpLink Gaming big OTC buy wey dem make for 11,259 ETH plus the quick rise to 449,276 ETH for their treasury show say institutional demand for Ethereum dey grow. The move, wey Galaxy Digital dey manage and wey get strong support from earlier multi-million-dollar buys, dey signal strong market confidence. Activism for Layer 2 network Linea plus stock surge dey reinforce positive vibes, likely to attract more inflows and make the price momentum strong, especially as ETH ETF approval fit happen soon.