📢 SharpLink Gaming adds over 100 million dollars of Ethereum to its treasury! 🪙🔥
In a bold new move, SharpLink Gaming took advantage of the current market correction and purchased over 100 million dollars of ETH to bolster its Ethereum treasury, which may help reduce its average purchase cost.
🔍 According to Arkham Intelligence:
The address linked to SharpLink (0xCd9) sent 108.6 million USDC to Galaxy Digital OTC with the aim of buying more ETH.
The transaction was made through two separate deals:
The first worth 53 million USDC
The second worth 55.5 million USDC
This purchase is expected to add approximately 31,941 ETH to the company's balance, which already owns 438,200 ETH before this transaction!
💡 It is worth noting that SharpLink now ranks second among companies holding strategic treasuries of Ethereum, behind BitMine, led by the well-known Ethereum bull Tom Lee.
📉 This purchase comes at a time when the price of ETH has dropped from its local peak near 3900 dollars, reflecting large institutions' confidence in the future of Ethereum despite market volatility.
🧠 Is this a sign of an upcoming bullish surge?
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📌 Note: This content does not constitute financial advice. Always conduct your own research before making investment decisions.