SharpLink Gaming, listed on the US stock market (Nasdaq: SBET), continues to increase its purchases of Ethereum. On-chain data platform Arkham Intelligence tracked that the company again added 16,374 ETH early this morning (14th), valued at $48.85 million at the time of the transaction.
Data from Arkham Intelligence shows that these Ethers were initially purchased through the over-the-counter (OTC) market of Galaxy Digital, and subsequently transferred to the official wallet of SharpLink Gaming from the address '0xCd9…F5F75'.
Although SharpLink Gaming has not publicly commented on this transaction, according to on-chain analyst Yu Jin's statistics, including the latest purchase of 16,374 ETH, the company has accumulated a total of 270,000 ETH since the beginning of June, with an average purchase price of about $2,667, and currently has unrealized profits (paper profits) of $81.8 million.
In fact, SharpLink Gaming just spent $63.7 million last Saturday to buy 21,487 ETH, making a series of rapid moves within just a few days, attracting significant market attention due to the speed and intensity of their actions.
SharpLink was originally an affiliate marketing and iGaming technology company based in Minnesota, USA. Until the completion of a $425 million private placement led by Consensys at the end of May this year, it officially launched an Ether asset allocation strategy.
Consensys is a well-known Ethereum infrastructure developer, and its founder Joseph Lubin is also a co-founder of Ethereum, who has now taken over as the chairman of SharpLink's board.
In addition to increasing its holdings of Ethereum, SharpLink Gaming is also participating in staking and re-staking. Joseph Lubin emphasized:
SharpLink continues to buy, stake, and re-stake Ethereum as a responsible industry player, helping to reduce market circulation and further consolidate the health and stability of the Ethereum ecosystem.
According to CoinGecko market data, Ethereum has risen by 2.7% in the past 24 hours, trading at $3,044 at the time of writing, which is still 37.7% away from the historical high of $4,878 set in November 2021.
"Holding 270,000 coins! SharpLink Gaming has further increased its purchase of 16,000 Ethereum". This article was first published on (Block客).