SharpLink Gaming acquired $73M in ETH, raising its total Ethereum holdings to $965M, excluding staking rewards.
Ethereum outperformed Bitcoin with a 10% price rise from July 12 to 16, driven by ETFs and whale activity.
Ethereum led crypto social discussions on July 16, surpassing Bitcoin and XRP in FOMO-driven mentions.
Ethereum has gained significant ground this week, posting a 10% rise as trading volumes and institutional flows increased. The upward trend came as SharpLink Gaming boosted its exposure by acquiring $73 million worth of ETH in one day. Data confirms the company’s ETH portfolio now totals $965 million, excluding staking rewards from Figment.
Large ETH Purchases and Institutional Inflows
According to a recent Arkham post on X, SharpLink currently holds 209,116 LSETH valued at $733.84 million and 1,192 ETH worth $3.87 million. Other holdings include tokens like LPUSS, CROAK, and DAI. This expansion came alongside transactions from multiple whales and corporate entities.
https://twitter.com/arkham/status/1945540701464187169
Just recently, a separate entity acquired 27,810 ETH, valued at $85.57 million, via FalconX and Coinbase Prime. Grayscale’s ETH Trust added 8,260 ETH through Coinbase. Cycurion secured 3,310 ETH in a $10 million purchase.
From July 12 to July 16, ETH rose 10% while BTC posted only a 1% increase. Charts show ETH's strong divergence, driven by ETF inflows and positive funding rates on Deribit. Arkham’s network data tracked large ETH movements into SharpLink wallets from Coinbase and related addresses. July 16 saw record ETH open interest. One whale was liquidated while another sold ETH to settle an Aave loan.
Ethereum Dominates Crypto Discussions After FOMO Surges
The continued purchases and large transaction relates to the continued uptick of Ethereum and the fear of missing out on future gains. According to Santiment observation, the chart shows a major spike in Ethereum-related social volume on July 16, following Bitcoin’s recent peak.
Ethereum mentions rose sharply across platforms, signaling increased retail interest. This activity coincided with price discussions targeting levels above $4,000. Compared to earlier dates, Ethereum’s social dominance reached its highest point during this period.
Source: Santiment (X)
The data reflects a concentrated wave of Ethereum-focused FOMO activity. Between July 14 and July 16, Ethereum overtook both Bitcoin and XRP in overall social media engagement. The July 16 spike marked the most intense Ethereum discussion window in recent weeks.
Bar graph data shows Ethereum-related posts exceeding other assets across various FOMO indicators. This surge occurred as Bitcoin’s momentum cooled, and attention shifted to altcoins. The Ethereum spike aligns with broader market transitions and increasing price speculation.No other asset saw a comparable social jump during this window. Ethereum maintained leading social presence during the observed timeframe in this dataset.
