SharpLink Gaming (NASDAQ: SBET) has continued its Ethereum buying spree. Today, it purchased another 5,188 ETH worth $15 million, according to data from EtherScan. Following this, the SBET stock also surged 19%, continuing the rally this week.
Earlier this week, SharpLink bought $73 million worth of ETH on Monday. That purchase included 24,371 ETH, based on blockchain data from Arkham Intelligence. Before that, the company acquired 16,374 ETH on July 13 and 21,487 ETH on July 11.
In less than a week, SharpLink has spent about $199.4 million on Ethereum, collecting a total of 67,420 ETH in four separate transactions. All of the Ethereum was transferred from a Coinbase Prime wallet, which is a platform used by investors to store their crypto holdings.
In total, SharpLink Gaming now holds roughly 285,894 ETH, making it one of the largest Ethereum holders among public firms. At current prices, the total is worth around $871 million. Of that, about 74,464 ETH has been staked, which means the company is earning rewards by locking up its ETH on the network, as reported by EmberCN. Meanwhile, the company is yet to publicly confirm these numbers or its current holding
According to CoinMarketCap, Ethereum is trading for $3,087, which is a 2.87% surge from the previous day from an intraday low of $2,983. In addition, trading activity is steady with just 1% increase to $35 billion in trading volume, with a 2.89% surge to $373 billion in market cap over the same period.
Also Read: Analyst Predicts ‘Supply Crunch’ for Ethereum (ETH); Targets $10K Price
