SharpLink purchased 143,593 Ethereum over the past week at an average of $4,648 each.
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- SharpLink purchased 143 593 ETH in one week for 667,4 millions dollars
- SharpLink reported that it owned 740 760 ETH on August 17th, worth $3B.
- The company bought the ETH for $4,648, which is near to its highest price.
Ethereum has become a popular asset for treasury. SharpLink Gaming bought 143 593 ETH on August 19th, according to an a filing Securities and Exchange Commission. Between August 10, 2025 and August 17, 2020, the company paid $667.4 millions for assets, which averaged $4,648 each ETH.
SharpLink purchased the ETH when its price was at its peak. SharpLink is continuing to increase its purchase despite this. The filing states that the company held 740 760 ETH as of August 17th, which are currently valued at about $3.2 Billion.
The firm also disclosed that the majority of their ETH, as well as liquid staking, is staked. It allows the company to earn passive rewards while increasing its assets. SharpLink already has 1,388 Ethereum through stake rewards.
SharpLink stock falls despite ETH purchases
SharpLink is aggressively expanding its Ethereum holdings. Even so, this is not always rewarded by the market. SharpLink shares, traded under SBET’s ticker in the past 5 days, have fallen 19.85%.
SharpLink, like most Treasury Stocks, uses both debt and equity to build reserves. It is a bet that leverages Ethereum. As a result, it’s more volatile.
Ethereum’s price has dropped from $4,788.55 (a multi-year record) to $4207.22 over the past 5 days. After the market’s rally fueled by ETFs, Ethereum fell from its multi-year high of $4,788.55 to $4.207.22. Ethereum’s volatility may be the cause of SharpLink stock’s further decline in value.
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Source: crypto.news
