SharpLink Gaming dey gather ETH: $108M move buy 14,933 ETH
SharpLink Gaming don continue dey follow dia institutional ETH accumulation strategy by deposit $108 million USDC enter Galaxy Digital. Di company quick quick use part of di money buy 14,933 ETH for average price $3,550. Di rest $55.6 million USDC na to save for future Ethereum buys. Since June, dis kain MicroStrategy style approach don boost SharpLink reserves to 464,000 ETH. For cost basis $3,029 per ETH, di position now worth $1.62 billion, get unrealized gain of $214 million. On-chain analytics dey show say di disciplined ETH accumulation mean say institution dem dey get more demand and trust for Ethereum. Traders suppose dey watch on-chain flows and unrealized gains as signs for short-term price ground and long-term market support.
Bullish
Di big $108 million USDC deposit and quick buy of 14,933 ETH show say institutional demand strong for Ethereum, e fit make buy-side pressure plenty. SharpLink dey build up im reserve of 464,000 ETH wey e buy for price wey low pass market price, join wit MicroStrategy kind accumulation plan, dey help keep price steady and show say bullish trend fit continue. For short term, on-chain signals like increase for USDC coming in and unrealised profits fit make price go up during accumulation phase. For long term, steady trust from institutions and big ETH holdings fit help market liquidity and reduce volatility, wey go support bullish view well well.