🚨Ethereum Gathers Steam as SharpLink Unveils $200M ETH Acquisition Plan🚨
$ETH upward momentum just got a major catalyst.
Nasdaq-listed esports company SharpLink Gaming (SBET) has announced a $200 million share sale, with all net proceeds directed toward aggressively expanding its ETH treasury. The move comes amid Ethereum’s continued dominance over rival smart contract platforms like Solana, fueled by growing interest in corporate ETH treasuries.
This bold treasury strategy marks SharpLink’s second major ETH push. The company began accumulating Ethereum in June, following a $450 million capital raise led by Consensys CEO Joseph Lubin, who also chairs SharpLink’s board. At present, SharpLink holds over 521,900 ETH, making it the second-largest corporate Ethereum holder, trailing only BitMine Immersion (BMNR) — backed by Peter Thiel — with around 833,000 ETH.
As institutional players continue to pile into Ethereum, ETH has decisively outperformed Solana. The SOL/ETH ratio, which once peaked above 0.085 in April, has slid to 0.045, reflecting investor rotation into Ethereum.
Ethereum also appears to be nearing a potential technical breakout, with analysts eyeing a multi-year downtrend reversal. If that resistance flips, a climb to $4,100 is on the radar.
Backed by a $6 billion SEC shelf registration, SharpLink's ongoing ETH accumulation strategy may push Ethereum's narrative further into the mainstream — particularly as ETH finds itself increasingly viewed as a long-term asset for corporate balance sheets.
💥 Institutional ETH demand is heating up.