Ethereum Price Falls Below $3,700 Support Amid Corporate Buyups
Ethereum's price has dropped below $3,700 amidst corporate acquisitions. Currently priced at $3,589.11, ETH has seen a 2.81% decline in the last 24 hours.
Acquisitions by SharpLink Gaming and BitMine
- SharpLink Gaming purchased 15,822 ETH for $54 million, totaling 30,755 ETH acquired recently.
- SharpLink now holds 480,031 ETH, valued at approximately $1.72 billion.
- BitMine Immersion Technologies acquired 833,137 ETH from June 30 to July 8, totaling over $2.9 billion, making it the largest holder of Ethereum globally.
Despite these corporate purchases, Ethereum is experiencing downward pressure, with record daily outflows of $465 million from US spot ETH ETFs. Without strong catalysts, the price may fall below $3,000.