- SharpLink boosts Ethereum holdings with $295M strategic crypto treasury move.
- RSI at 81.91 signals strong buying pressure on Ethereum.
- Joseph Chalom joins SharpLink, reinforcing Ethereum-focused leadership strategy.
SharpLink Gaming has strengthened its position in the crypto space by acquiring 77,210 ETH worth approximately $295 million. The move was revealed by Lookonchain, which cited data from Arkham Intelligence to confirm the acquisition on Sunday evening.
With this latest addition, SharpLink’s total Ethereum holdings now stand at 438,017 ETH. According to the listed price, the company treasury is almost $1.7 billion, making it one of the largest companies in the world that holds Ethereum.
Recently, the company appointed Joseph Chalom, a former BlackRock executive, as co-CEO. The change in leadership comes after Ethereum co-founder and SharpLink chairman Joseph Lubin said Chalom’s appointment was a good sign-off on the firm’s ETH-centric strategy.
Also Read: 366,000% XRP Surge – Here’s What’s Happening
SharpLink Ethereum Bet Aligns with Strong Market Signals
Ethereum’s recent market performance has shown upward momentum, aligning with SharpLink’s timing. At the time of writing, Ethereum is trading around $3,883 after a 2.9% rise in the past 24 hours, according to CoinMarketCap.
Technical signs confirm the bullish feeling, with the Relative Strength Index (RSI) reading 81.91, deep in overbought territory. This is an indicator of robust purchase demand and investor attention.
Bollinger bands indicate a pronounced price breakout on the upper band, which further enhances the power of the current rally. The 20-day moving average currently stands at $3,429, which shows that the price is way above short-term support.
Source: Tradingview
Attention has also been drawn to the company’s stock performance. SBET today closed at $21.99, a fall of 5.7%; nevertheless, the stock has risen 113.9% in the last month and 186.3% year-to-date, according to Yahoo Finance.
SharpLink’s aggressive accretion strategy has made it appealing to investors, particularly given institutions’ increasing investment in digital assets. The firm’s high rate of purchases indicates that it is long-term-oriented in using Ethereum in future finance.
Conclusion
SharpLink’s latest Ethereum acquisition, combined with strong technical signals and executive leadership shifts, underscores its long-term vision. The company’s strategic positioning highlights its growing influence in institutional crypto adoption.
Also Read: XRP Path to $15 Revealed, Passing Through These 3 Targets Before September: Analyst
