SharpLink’s Recent Ethereum Accumulation

According to on-chain data, SharpLink’s wallet, which has recently moved towards becoming a MicroStrategy for Ethereum, received 145 million USDC from the Circle wallet.

While it is thought that these funds may have been newly minted, it is estimated that the company raised money through share sales to increase its Ethereum (ETH) accumulation.

SharpLink, which hasn’t purchased any ETH all week, currently holds approximately 360,900 ETH in its wallet, valued at approximately $1.34 billion.

SharpLink transferred the USDC it received to its Galaxy Digital wallet. Given that the company has previously made large ETH purchases through Galaxy Digital, this transfer is believed to be for a new ETH investment.

SharpLink Gaming purchased 74,656 Ethereum between July 7th and 13th, boosting its total holdings to 280,706 ETH. This amount was worth over $1 billion as of July 21st, making SharpLink the largest holder of Ethereum among institutions globally, surpassing even the Ethereum Foundation.

This is not investment advice.