ETH Treasury Competition Intensifies as SharpLink Buys Additional 77,210 ETH

Ether (ETH) is currently priced above $3,800 as corporate competition for ETH treasuries escalates. Key developments include:

SharpLink Gaming acquired 77,210 ETH last week for nearly $290 million, increasing its total to 438,190 ETH valued at approximately $1.69 billion.
SharpLink raised over $279 million during the week of July 21 through its equity facility and has generated 722 ETH in staking rewards since launching its ETH treasury strategy on June 2.
BitMine Immersion Technologies leads with 625,000 ETH valued at $2.35 billion and announced a $1 billion share repurchase program.
Both firms aim to dominate the ETH treasury market, reflecting strategies seen in Bitcoin-focused companies like MicroStrategy.

Despite macroeconomic uncertainties surrounding the Federal Reserve's monetary policy, ETH has surged 56% in the past month due to strong demand from ETFs and corporate treasuries.

Technical Analysis Highlights

ETH traded between $3,735.12 and $3,883.90 over a recent 24-hour period.
Significant accumulation at $3,735.12 led to a price bounce to session highs near $3,885.
ETH rose from $3,838.34 to $3,850.19 shortly before key resistance was breached.
The $3,850 area now serves as support as ETH consolidates ahead of the Fed's decision.