SharpLink Purchases 10,000 ETH: Stocks Soar, Is Ethereum Still 'Safe'?

Stock #SharpLinkGaming has surged after the company announced the purchase of 10,000 ETH (approximately 30 million USD) directly from the Ethereum Foundation.

📌 Key Points:

This transaction was conducted via an OTC (over-the-counter) deal, so the amount $ETH sold did not flow into the open market — avoiding immediate selling pressure on ETH prices.

According to the Ethereum Foundation, this ETH was sold at a price of about 2,600 USD/ETH, amidst ETH recently crossing the 3,000 USD mark for the first time in 5 months.

Some Twitter users believe this is a 'creative way' for the Foundation to maintain funding for research while avoiding significant price fluctuations for ETH.

📈 SharpLink's stock has risen over 70% this week, reaching nearly 20 USD, thanks to this news and the price increase of ETH. SharpLink currently holds around 215,000 ETH (~644 million USD), second only to the Ethereum Foundation.

🎯 Notably, SharpLink was previously a sports betting marketing company, but has pivoted to become a large-scale ETH holding fund, aiming to maximize assets for shareholders. Mr. Joe Lubin — co-founder of Ethereum and CEO of Consensys — is directly leading this strategy.

👉 With this new move, SharpLink asserts its ambition to become a large 'vault' for ETH, leveraging DeFi and staking for long-term profitability. #anhbacong