Ether treasury Sharplink buys $62.4M of ETH in 3 days
Sharplink resumed Ether accumulation after an eight-month pause, buying $62.4 million worth of ETH since Thursday. Onchain data shows purchases of 5,000 ETH on Thursday, another 5,000 ETH on Friday, and 29,196 ETH on Saturday through three over-the-counter trades. The buying spree signals a return to an active ETH treasury strategy for a company that had competed with Bitmine among the largest Ether holders. The purchases came the same week Sharplink and Bitmine supported Ethlabs, a new nonprofit focused on preparing Ethereum for institutional adoption. Sharplink said Ethereum is becoming the settlement layer for stablecoins, tokenized assets, funds, and AI commerce, and Ethlabs aims to help the network scale for that demand. The buys also landed during a weak market for ETH, which is down sharply this month and nearly 50% year to date, while US spot Ether ETFs posted a seventh straight week of outflows.
