SharpLink Gaming adds another 18,680 ETH.
This amounts to ETH worth $66.63 million added to its Strategic Ethereum Reserve.
The price of ETH is expected to surpass $10,000 this bull cycle.
The price of ETH sits under the $4,000 price range and is currently trading at the $3,600 following the latest crypto market dip, which took ETH to $3,400. Amid this recovery phase, institutions have accumulated more ETH. SharpLink Gaming adds another 18,680 ETH worth $66.63 million to its strategic Ethereum Reserve. The entity now holds a total of $1.8 billion worth of ETH.
SharpLink Gaming Adds Another 18,680 ETH
Over the last few weeks, the price of Ethereum has had a rollercoaster of a run. In detail, the price of Ethereum (ETH) broke past $3,800 and $3,900, leading many analysts to believe that the next breakout would be at the 4,000 price range, allowing ETH to hit a new trend high of $4,200. However, a short market correction sent the price of ETH tumbling to the $3,400 price range instead.
While a few traders panic-sold their ETH holdings, seasoned analysts, long-time ETH whales, and financial entities went on to heavily accumulate ETH instead. These figures say the dip is a golden opportunity to accumulate more ETH amidst a dip where the price of ETH remains below $4,000. Most analysts believe that accumulating ETH under $4,000 is a steal as the asset has yet to reclaim its previous ATH price.
https://twitter.com/OnchainLens/status/1952367441977434369
As we can see from the post above, SharpLink Gaming is one such entity. In detail, the entity just added another 18,680 ETH worth $66.63 million to its strategic ETH reserve. They now hold 498,884 ETH worth $1.8 billion. Another entity that bought the dip in Tom Lee’s Bitmine Immersion, whose 208,137 ETH purchase has now made the entity the largest ETH holders in the world.
The Entity holds a Total of 598,884 ETH
Several analysts note that this increased institutional accumulation, supply crunch, and bullish network activity will lead to an epic ETH price rally soon. Most analysts believe an $8,000 to $10,000 ETH ATH price target is inevitable. Some even expect the price of ETH to set new ATHs in the $15,000 to $20,000 price range for this bull cycle, saying that these targets could even arrive this year.
https://twitter.com/MerlijnTrader/status/1952384034858045886
As we can see from the post above, this reputed crypto analyst sees that ETH is repeating its 2016-2017 bull pump. He notes that the last time this pattern occurred, the price of ETH pulled a 10x pump in a matter of months and expects the same bullish pump to occur this bull cycle as well. In fact, he states that this time ETH has more liquidity, more adoption, and institutional firepower behind it, pointing to an even higher pump this cycle.
