12 hour ago
1 0
SharpLink Gaming Redeems 5,284 ETH, Deposits 4,364 ETH into OKX
Ethereum Market Overview:
- Ethereum is struggling to regain levels above $3,100 amidst selling pressure and market uncertainty.
- No clear signs indicate a deeper breakdown; the market might be in a consolidation phase.
Sharplink Gaming's On-Chain Activity:
- Sharplink Gaming, a Nasdaq-listed company, made significant Ethereum transactions during the downturn.
- The company redeemed 5,284 ETH (~$17.52 million) and deposited 4,364 ETH (~$14.47 million) into OKX.
- Total Ethereum holdings of Sharplink are approximately 859,395 ETH, valued at $3.58 billion.
- This activity suggests strategic positioning and confidence in Ethereum's long-term value.
Current Ethereum Price Action:
- Ethereum is trading around $3,298, attempting to stabilize above its 200-day moving average.
- The price remains below the 50-day and 100-day moving averages, indicating bearish momentum.
- Reclaiming the $3,400–$3,500 zone is crucial for confirming a stronger recovery.
- Holding above $3,200 is essential to avoid deeper losses; a close below the 200-day MA could lead to testing $2,900–$3,000.
