SharpLink Gaming Acquires 176,271 ETH for $463 Million, Becomes Largest Holder
SharpLink Gaming has purchased over 176,000 ETH, becoming the largest public holder after the Ethereum Foundation. The acquisition is valued at approximately $463 million, with an average purchase price of $2,626 per coin. More than 95% of the acquired ETH is currently locked in staking or liquid staking protocols.
This investment was backed by $79 million raised through equity sales and private placements since May 30. Joseph Lubin, Ethereum co-founder, played a significant role in this strategy.
Despite SharpLink’s recent stock plunge of over 70%, the move signals growing confidence in crypto among public companies and may influence Ethereum's price trajectory. Following the announcement, Ethereum's price has stabilized around $2,616.94 with a 3.62% increase over the past 24 hours.
- SharpLink's ETH purchase totals 176,271 tokens
- Company now holds the largest public ETH position
- Purchase funded by equity sales and private placements
- Majority of ETH is staked to support network yield
- Investor interest may rise due to the large holdings