SharpLink Shares Drop Well Well After Q2 Loss As Ethereum Rally Cool Down
SharpLink tok report say im lose big pass how people expect: $8.5 million for Q2, because operating expenses high and Ethereum demand slow down. Their revenue move small small by 9% yearly get $24 million, but active users and transaction for SharpLink data-as-a-service platform drop 15% and 20%. Ethereum price rise reach close to $4,200 for May, then fall to average $3,600 by end quarter, make market no too eager for blockchain data services again. SharpLink stock (NASDAQ: SHLK) drop 18% after work hours trading. Management talk say Q3 revenue fit fall more and dem plan to cut cost to keep cash. Though company still hope for long-term growth for decentralized finance indexing, immediate effect of weaker Ethereum market shake investor feeling.
Bearish
Di sharp drop for di stock reflect say investors dey worry for SharpLink Q2 loss and also say Ethereum rally don cool down, wey be di main kain money wey dem dey make. Normally, crypto infrastructure companies dey see their shares weak wen Ethereum activity low. For short term, soft transaction volume and price wahala for ETH go likely pressure SharpLink growth and margins. For long run, if Ethereum price and DeFi usage recover, e fit make demand for data-as-a-service strong again, but people fit still dey down until strong on-chain activity show again. Di combination of bad earning result and uncertain Ethereum future make bearish view make sense.