SharpLink Gaming Acquires $73M in ETH

SharpLink Gaming, a Nasdaq-listed company, has enhanced its Ethereum accumulation strategy by acquiring an additional 24,371 ETH on Monday, totaling approximately $73.25 million. This transaction was facilitated through Coinbase Prime's hot wallet, which showcased active transfers involving various cryptocurrencies including Ether, Shiba Inu, and Uniswap (UNI). The acquisition on Monday follows two recent significant purchases: 16,374 ETH on Sunday and 21,487 ETH on Friday night. Overall, SharpLink has managed to secure a total of 62,232 ETH valued at around $186.4 million over the last four days alone. Despite requests for confirmation, SharpLink did not immediately respond regarding its recent ETH acquisition or the total amount of ETH it currently holds. The company, originally based in Minneapolis, has been pursuing an Ethereum treasury strategy since late May, aligned with a $425 million private placement led by Consensys, a crypto infrastructure developer. Joseph Lubin, Consensys CEO and Ethereum co-founder, now chairs SharpLink. As of now, SharpLink has amassed about 294,000 ETH, with 74,464 ETH currently staked, according to reports from EmberCN based on on-chain data. Ethereum's price has seen a 0.9% increase in the past 24 hours, reaching $2,970, briefly crossing the $3,000 mark earlier on Monday for the first time since February 1. SharpLink's stock also experienced a surge, closing up 10.3% at $23.88 on Monday, marking a 78% rise over the past month, as noted by Google Finance data. Disclaimer: The Block is an independent media outlet providing news and research. Foresight Ventures, a majority investor in The Block, has investments within the crypto sector. The Block operates independently to provide objective information about the crypto industry.