SharpLink Now Largest Corporate Holder of ETH, Surpassing Ethereum Foundation

SharpLink Gaming, a company listed on the Nasdaq, has become the largest corporate holder of Ethereum (ETH), surpassing even the Ethereum Foundation. Within one week, SharpLink acquired over 74,000 ETH, bringing their total holdings to over 280,000 ETH, worth approximately $900 million. They spent around $213 million at an average price of $2,852 per ETH. Since then, they've continued accumulating ETH, purchasing an additional 6,377 ETH. Almost all of the company's cryptocurrency is now staked, earning them over 415 ETH since June. SharpLink raised $413 million through its equity program and has earmarked $257 million for further ETH purchases. This accumulation has coincided with a significant increase in SharpLink's stock price, rising over 20% in regular trading hours and another 11% in after-hours trading. ETH itself has also seen gains, increasing by nearly 6% in the last 24 hours and over 20% in the past week.