MASTER STROKE in Ethereum!
SharpLink purchases $25.7 MILLION in ETH from the Ethereum Foundation
#SharpLinkGaming (SBET), a company listed on Nasdaq, has made a significant strategic acquisition in the Ethereum ecosystem, buying 10,000 ETH directly from the Ethereum Foundation for $25.7 million.
This transaction, closed on July 10 at a price of $2,572.37 per #ETH deepens what is already the second-largest ETH treasury held by a public entity.
With this latest over-the-counter (OTC) purchase, the total holdings of #Ethereum of #SharpLink amount to approximately 215,634 ETH, with an estimated value of $558 million at current prices, according to data from DefiLlama.
Beyond simply bolstering its corporate treasury, SharpLink claims that this action actively seeks to support the long-term strength and decentralization of Ethereum, the leading asset in the DeFi space. Joseph Lubin, president of SharpLink and co-founder of Ethereum, highlighted: "SharpLink is acquiring, staking, and re-staking ETH as responsible stewards of the industry, removing supply from circulation and reinforcing the health of the Ethereum ecosystem."
This suggests that the acquired ETH will not only be held but will be actively used in staking to secure the network.