SharpLink Gaming has made another significant step in its cryptocurrency investment strategy by purchasing Ethereum worth over 100 million US dollars. This strategic acquisition, made during a downturn in the cryptocurrency market, may help reduce the average cost of the company's large Ethereum assets.
#بينانس_للمبتدئين #اخبار_اقتصادية #اخبار_العملات $BTC
According to Arkham Intelligence, the Ethereum wallet known as 0xCd9, associated with SharpLink, recently transferred 108.6 million US dollars from USDC to Galaxy Digital's over-the-counter (OTC) trading platform. The transaction was divided into two parts: 53.009 million US dollars, followed by another 55.565 million US dollars, both sent to the Galaxy wallet.
Investment in Ethereum
This development highlights the company's ongoing interest in expanding its Ethereum portfolio. Previously, this same portfolio recorded a purchase of 800 million US dollars in Ethereum, making SharpLink's Ethereum portfolio one of the largest corporate investment portfolios. According to Arkham's analyses, this recent transaction could yield approximately 31,941 Ethereum at the current market price.
The strategic timing of this accumulation is notable. SharpLink appears to be mirroring broader investor trends, as figures like Eric Trump recently encouraged investors to 'buy on the dip.' Ethereum (ETH), along with the broader cryptocurrency market, has seen steady declines since reaching a local peak of 3,900 US dollars. Since then, the market cap of the altcoin has decreased, making it a potential buying opportunity at reasonable prices.
Even without this recent acquisition, SharpLink already holds 438,200 ETH, making it the second-largest Ethereum wallet after MicroStrategy. With the potential to purchase a total exceeding 1 billion US dollars in ETH, the company seems firmly committed to a long-term positioning in the blockchain space.
This expansion of the ETH portfolio comes amid increasing activity from institutional investors. The use of Galaxy Digital's over-the-counter (OTC) services and the strategic deployment of USDC indicates a preference for organized and low-slippage trading environments. SharpLink's move may influence other companies looking to emulate similar strategies in blockchain portfolio management.