Ethereum (ETH) is making waves with a price of $2,600, as SharpLink Gaming expands its treasury to over 205,000 ETH.
SharpLink Gaming’s Big Move: ETH Treasury Hits New Heights
In a bold step that’s turning heads in the crypto world, Nasdaq-listed SharpLink Gaming (SBET) has announced the acquisition of 7,689 ETH, bringing its total Ethereum holdings to an impressive 205,634 ETH. This purchase, made at an average price of $2,501 per ETH, was funded by raising $64 million through the sale of 5.49 million shares. Of this, $37.2 million is earmarked for even more ETH purchases, signaling strong confidence in Ethereum’s future.
SharpLink isn’t stopping there. The company also reported earning 322 ETH in staking rewards, with an additional 100 ETH gained last week. These assets are fully deployed in staking and restaking protocols, a strategy to maximize returns in the decentralized finance (DeFi) space. Following the announcement, SharpLink’s stock surged by over 28%, closing at $16.29, as investors jumped on the news.
This move comes after a $425 million private placement in June, led by Consensys, with its CEO Joseph Lubin stepping into the role of SharpLink’s Chairman. It’s clear that SharpLink is positioning itself as a major player in the crypto treasury game, following the playbook of firms like MicroStrategy, which has amassed a significant Bitcoin portfolio.
Ethereum Treasuries Gain Traction Among Public Companies
SharpLink isn’t alone in its Ethereum enthusiasm. Another Nasdaq-listed firm, BTCS, revealed plans to raise $100 million in 2025 through a mix of equity offerings, convertible debt, and DeFi strategies like borrowing from Aave and staking. Their goal? Boost ETH holdings per share while keeping dilution low, as stated in a recent press release.
The trend of Ethereum treasuries is catching on, especially among smaller public companies. Bit Digital (BTBT) recently reported a treasury balance of 100,603 ETH after a $172 million offering and selling off Bitcoin. Meanwhile, BitMine (BMNR) is raising $250 million to build a similar ETH-focused treasury. This growing interest aligns with broader crypto trends, including tokenization and upcoming legislation like the GENIUS stablecoin bill, set for a House vote soon.
These companies are inspired by the success of firms like MicroStrategy, which started accumulating Bitcoin in 2020 and now holds 597,325 BTC—about 2.8% of Bitcoin’s total supply. Ethereum treasuries could be the next big thing for corporate balance sheets in the fintech space.
Ethereum Price Outlook: Can ETH Break Through $2,850?
On the price front, Ethereum is showing resilience. Currently trading at $2,600 after a 2.7% gain, ETH is holding strong near the $2,500 support level, backed by the 200-day Simple Moving Average (SMA). Data from Glassnode highlights $2,500 as a key accumulation zone, with investors snapping up over 3.45 million ETH between $2,513 and $2,536 in recent months.
Looking at the charts, ETH is forming a symmetrical triangle pattern. If it maintains support at $2,500, analysts see potential for a rally toward the $2,850 resistance level, a barrier that’s held since early February. However, a drop below $2,500 could push ETH to test the lower boundary of this triangle.
Market indicators like the Relative Strength Index (RSI) and Stochastic Oscillator are leaning bullish, sitting above neutral levels. This suggests that while momentum isn’t overwhelming, buyers are still in control for now.
Why Ethereum Treasuries Matter for Crypto Investors
The rise of Ethereum treasuries among public companies signals a shift in how businesses view crypto. Unlike Bitcoin, often seen as digital gold, Ethereum’s appeal lies in its utility—powering smart contracts and DeFi applications. Companies like SharpLink and BTCS are betting on ETH not just as a store of value but as a way to generate yield through staking and other protocols.
For everyday investors, this trend could drive demand for ETH, potentially pushing prices higher. It also shows growing mainstream acceptance of crypto as a legitimate asset class, especially as regulatory frameworks like the GENIUS stablecoin bill take shape. Keeping an eye on these corporate moves could offer clues about where Ethereum is headed next.
Stay Updated on Ethereum and Crypto Trends
Ethereum’s price action and the surge in corporate treasuries are just the beginning. As more companies dive into ETH, the crypto market could see renewed energy. Will ETH break through $2,850, or will it face resistance? Stick with us for the latest updates on Ethereum price forecasts, market trends, and fintech innovations.
