SharpLink has staked $470M in LSETH and sent over 25,000 ETH to Figment, revealing a high-conviction validator strategy.
Consistent ETH outflows topping $3M each show SharpLink's structured commitment to long-term staking, not short-term plays.
With no swaps or new inflows, SharpLink’s entire position reflects a deliberate, yield-driven ETH staking accumulation path.
SharpLink Gaming has accumulated over $536.2 million in ETH through LSETH and direct staking. The company’s positions span Liquid Collective and Figment, with major inflows routed toward validator services.
ETH-to-LSETH Conversions Dominate Strategy
SharpLink Gaming holds 166,678 LSETH valued at $470.01 million, making it one of the largest on-chain LSETH holders. According to a post by Arkham, these tokens are part of a larger staking strategy involving Liquid Collective and Figment validators.
https://twitter.com/arkham/status/1942648603933303019
Alongside LSETH, minor positions appear in ETH, CROAK, DAI, and BNB—although none significantly alter the portfolio’s exposure. ETH and CROAK posted positive daily gains of 2.97% and 6.73% respectively, while BNB and DAI remained static.
Validator Activity Through Figment Staking
SharpLink has actively funneled native ETH into staking channels outside of its visible LSETH balance. According to Arkham, the firm has sent 25,312 ETH to Figment staking validators, valued at $66.19 million.
These outbound transfers were not reflected in the public portfolio view but were confirmed via Arkham’s flow charts. The figures exclude staking rewards, meaning the actual exposure is likely higher.
Simultaneously, consistent ETH transfers have been observed over the last month. Single outflows frequently surpassed $3 million per transaction, with amounts ranging from 736 to 3,200 ETH.
Transaction Trail Shows Structured Strategy
The Arkham Intelligence dashboard places SharpLink at the center of multiple network flows. Wallets linked to Coinbase and known ETH entities consistently push funds into SharpLink-controlled wallets.
These funds are then split—one stream directed into Figment nodes, the other to Liquid Collective’s LSETH pipeline. Each route reflects a deliberate split between direct validator staking and liquid staking protocol participation.
Moreover, wallet 0xb02 appears repeatedly as the source of outbound ETH, confirming its operational role. This address has facilitated high-volume staking with precise timing and mirrored transaction sizing.
Position Growth and Balance Stability
Profit and loss history shows a significant value surge in early June. Since then, SharpLink’s balance has held steady, suggesting no major sell-offs or strategic redirection.
The portfolio remains heavily concentrated, with zero signs of swaps, new inflows, or additional asset exposure. This suggests the firm is not pursuing diversified allocation but is instead focused entirely on staking yield.
Therefore, SharpLink continues to consolidate its ETH holdings around staking-linked instruments. The sustained allocation to LSETH and validator deposits underscores a long-term, yield-centric approach.
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