SharpLink Gaming Adds $19.5M in Ethereum—Institutional Buying Spree Continues
After overcoming major resistance at $3,100, Ethereum is trading securely above this level, signifying a market change. Ethereum's rise shows altcoin momentum as Bitcoin pulls down from its all-time highs.
Technical and fundamental improvements fuel confidence. SharpLink Gaming, one of the first Nasdaq-listed firms to implement an Ethereum-focused treasury strategy, bought $19,560,000 of ETH today.
Ethereum may lead the next cryptocurrency rally because to robust price movement, rising corporate interest, and positive on-chain metrics.
SharpLink Holds Most Ethereum Corporately
SharpLink Gaming is currently the biggest corporate Ethereum holder with 280,706 ETH in its treasury, worth $840 million at market rates.
Top analyst Ted Pillows corroborated SharpLink's new purchase using on-chain data, showing that the ETH was purchased using a Coinbase Prime hot wallet, which institutions utilize for major crypto transactions. According to a news statement, SharpLink raised $413 million by issuing approximately 24 million additional shares between July 7 and July 11, which it immediately invested in crypto.
The business bought 74,656 ETH last week for $2,852 each. This strong buyback underscores SharpLink's treasury policy and a wider institutional trend toward ETH as a primary asset.
Weekly Ethereum chart shows strong bullish momentum. Weekly gains of almost 6% bring the price to $3,155.21. Confirmed breach over $2,850 resistance zone. After months of consolidation and negative pressure, market structure changed. This raises ETH to its best weekly closing since early 2024.
Ethereum technically recaptured the 50-week, 100-week, and 200-week SMAs ($2,645, $2,659). This alignment favors a longer-term bullish reversal and reinforces buying momentum. The advance gains momentum from the clear break above resistance. And sets up a possible rally to $3,600–$3,800 in the following weeks.
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