SharpLink Gaming Boosts Ethereum Treasury Stash to $461 Million
SharpLink Gaming acquired over $30 million in Ethereum, adding 12,207 ETH at an average price of $2,513 from June 16-20, increasing its total treasury to 188,478 ETH, valued at approximately $461 million. The firm expressed confidence in Ethereum's utility and commitment to transformative technologies. SharpLink's shares rose over 11% to $10.02 but are down 72% over the past month due to market misinterpretations of an S-3 filing. The company's SBET shares previously peaked above $90 on May 29. SharpLink plans to utilize its Ethereum treasury for staking and decentralized finance, generating yield with 100% of its ETH holdings staked, resulting in 120 ETH in rewards and an 18.97% growth rate per share. Ethereum's price increased by 6% recently, trading at $2,444.
