Record Ethereum Purchase by SharpLink Gaming: They Spent 258 Million Dollars in One Week!
SharpLink Gaming, the world's largest institutional Ethereum (ETH) investor, increased its ETH holdings by 29% to 360,807 ETH with its largest weekly purchase made during the week of July 14-20.
Having launched its digital treasury strategy in June and quickly becoming a major player in the Ethereum ecosystem, SharpLink Gaming purchased a total of 79,949 ETH last week for approximately 258 million dollars. With an average purchase price of 3,238 dollars, this acquisition stands out as the highest weekly ETH purchase in the company's history. Thus, the total amount of Ethereum held by the company has risen to 360,807 ETH.
In June, SharpLink focused its digital treasury management on Ethereum, during which it earned a total of 567 ETH in rewards through staking. The company's ETH concentration has increased by 53% since the start of the strategy, reaching a level of 3.06. Additionally, it has been reported that the company has a net fund of 96.6 million dollars ready for future Ethereum purchases.
SharpLink Gaming announced its support for the Genius Act recently signed by U.S. President Donald Trump. The company emphasized that the establishment of a clear regulatory framework for cryptocurrency and smart contract technologies through this act is a historic step for the industry. Joseph Lubin, the president of SharpLink and one of the co-founders of Ethereum, stated, 'This law will create significant opportunities for us to utilize Ethereum and blockchain technologies to their full potential.'
