SharpLink Gaming Acquires 11,259 ETH, Totaling $1.74 Billion in Holdings
Ethereum Price Surge
- Ethereum surpassed $3,850 this week following SharpLink Gaming's acquisition of 11,259 ETH.
- SharpLink now holds 449,000 ETH, valued at approximately $1.74 billion.
- The largest corporate holder remains Tom Lee’s BitMine, targeting 5% of total Ether supply.
- SharpLink spent $43.09 million in USDC for the recent purchase, averaging $3,827 per ETH.
- Since June, SharpLink has actively accumulated ETH, realizing an unrealized profit of around $386 million.
- Joseph Chalom, a former BlackRock executive, was appointed as co-CEO to strengthen crypto initiatives.
Market Sentiment and Price Analysis
- Glassnode indicates current unrealized profits for ETH are lower than previous highs despite approaching March 2024 price levels.
- ETH's price near $3,860 aligns with potential targets of $4,900 based on statistical analysis.
- ETH has broken above its upper Bollinger Band, indicating strong bullish momentum with no divergence in RSI.
- Immediate resistance levels are set at $3,920 and $4,182, with support at $3,300 suggesting potential moves to $4,220 and $5,140.
