news 
SharpLink Gaming Makes Another Massive Ethereum Purchase, Buys 10,000 ETH from Foundation
In a recent transaction, SharpLink Gaming, a public firm listed on the Nasdaq under SBET, has finalized a purchase of 10,000 Ethereum (ETH) from the Ethereum Foundation at $2,572.37 per coin. This monumental deal totals approximately $25.7 million and marks one of the largest known single purchases from the Foundation in recent months.
SharpLink’s decision to acquire such a large quantity of ETH serves as a testament to their commitment to utilizing the cryptocurrency as a core treasury asset. According to Chairman Joseph Lubin, who also co-founded Ethereum, SharpLink intends to stake and re-stake this newly acquired ETH. This move is aimed at reducing circulating supply and reinforcing Ethereum’s long-term value.
The acquisition by SharpLink underscores a growing trend of institutional investors demonstrating increased interest in digital assets. The public firm has been gradually building its ETH reserves over the past year, solidifying its position as a corporate player deeply engaged with Ethereum’s growth trajectory.
In light of this development, analysts point to the deal’s potential implications on market dynamics and the broader adoption narratives surrounding blockchain-based finance. The move is likely to garner attention from other corporate treasuries exploring opportunities within the decentralized ecosystem.
This purchase also highlights SharpLink’s commitment to Ethereum, as they do not intend to trade these assets but rather integrate them into their financial structure.
Source: blockonomi.com
