Ethereum treasury firm Sharplink buys ether for first time in eight months
Sharplink, the second-largest public ether treasury company, bought 5,000 ETH worth $7.85 million, its first purchase in eight months, adding to its 876,285 ETH holdings.
Sharplink (SBET), the second-largest public company holding ether, has made its first ether purchase in eight months, acquiring 5,000 ETH worth approximately $7.85 million on Thursday.
According to Arkham data, the coins arrived from crypto brokerage FalconX. The purchase is relatively small compared to Sharplink's existing pile of 876,285 ether, valued at roughly $1.3 billion as of June 21. Onchain analyst EmberCN estimates Sharplink's average purchase price at about $3,609 per coin, implying an unrealized loss of around $1.79 billion with ether trading near current levels. This move comes at a time when ether prices have been under pressure, and the company's decision to add to its position may signal a long-term bullish view despite the paper losses. For crypto traders, such treasury actions can influence market sentiment, as large holders' accumulation often suggests confidence in the asset's future. Traders can monitor live ether price movements on NowPrice's crypto dashboard to track how this news impacts the market.
Looking ahead, market participants will watch for any further accumulation by Sharplink or other corporate treasuries, as well as broader ether price action around key support levels. The next major catalyst for ether could be the ongoing development of Ethereum's scaling roadmap and potential ETF flow data, which may provide direction for the asset in the coming weeks.