SharpLink Surpasses Ethereum Foundation to Become the Top Corporate ETH Holder

Nasdaq-listed gaming company SharpLink Gaming (SBET) has become the largest corporate holder of Ethereum (ETH), surpassing the Ethereum Foundation. The company amassed over 280,000 ETH, worth nearly $900 million, in just one week. This major acquisition spree included the purchase of 74,656 ETH for about $213 million at an average price of $2,852 per coin.

The company's total ETH holdings now stand at 280,706, which is valued at approximately $881 million. In addition, SharpLink has continued buying, with a recent purchase of 6,377 ETH, taking its seven-day purchase to 91,330 ETH for about $275 million. The firm's massive accumulation of ETH, coupled with its cryptocurrency staking strategy, has led to a significant surge in its share value.