SharpLink Gaming Acquires 26,192 ETH for $96 Million Amid Price Correction
SharpLink Gaming (SBET) has purchased an additional 26,192 ETH for $96 million amid Ethereum's price correction to $3,500. This acquisition increases the firm's total ETH holdings to 464,382 ETH, valued at approximately $1.63 billion.
- SharpLink aims to be the fastest ETH buyer, as stated by Joseph Lubin, Ethereum co-founder and SharpLink Treasury planner.
- The firm has transferred $55 million in USDC to centralized exchanges via Galaxy Digital.
- SharpLink ranks second among ETH treasury firms, which manage around $10 billion in assets according to Standard Chartered.
Currently, ETH is under selling pressure, down 12.5% after rejecting $4,000 earlier this week. Spot Ethereum ETFs experienced outflows for the first time after 20 days of inflows. Analysts consider the price correction healthy following a 60% increase in July.