Sharplink Bets $425M On Ethereum As New Wallets Withdraw Millions
Ethereum (CRYPTO: ETH) is currently priced at $2,637.84, rising 0.03% in the last 24 hours, gaining 3.70% over the last week and 45.84% over the past month. Ethereum’s recent growth and market confidence has led to a $425 million institutional investment while on-chain activity from smaller players is giving bullish signs.
Showing its long-term commitment to Ethereum, Sharplink Gaming Inc (NASDAQ:SBET) has invested $425 million in a private placement to establish an Ethereum treasury strategy. The U.S.-based sports betting and global iGaming company will swap these funds for ETH, making it the main reserve asset on the balance sheet.
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Ethereum’s co-founder, Joseph Lubin, was appointed as chairman of the board, potentially signaling to investors that Sharplink is serious about adopting blockchain …
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