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Key Notes
- Ethereum price has lost its support above $3,700, even with recent corporate buyups from top companies like SharpLink Gaming.
- SharpLink Gaming recently purchased 15,822 ETH at a market value of $54 million.
- BitMine became the largest Ethereum treasury in the world with 833,137 ETH in its holding.
Ethereum
ETH
$3 606
24h volatility:
1.1%
Market cap:
$435.29 B
Vol. 24h:
$24.37 B
price has lost its support above $3,700 even with recent corporate buyups from top companies like SharpLink Gaming (SBET).
As it stands, the coin is struggling to maintain its positive momentum. The Ethereum outlook is further compounded as spot ETH Exchange Traded Funds (ETFs) have recently recorded outflows.
SharpLink Gaming and BitMine Purchase Ethereum
SharpLink Gaming recently purchased 15,822 ETH at a market value of $54 million. This was in addition to a previous purchase of 14,933 ETH, bringing the total Ethereum acquisitions over the past week to 30,755 ETH.
As a result of this acquisition, SharpLink’s ETH holdings have hit 480,031 ETH. The ETH price is currently at $3,589.11, following a 2.81% dip over the last 24 hours.
Based on this price, the firm’s ETH holdings are worth approximately $1.72 billion, making it one of the largest public holders of Ethereum globally.
SharpLink Gaming’s Treasury planner, Joseph Lubin, stated in an interview with Bloomberg that the plan is for the firm to become the largest ETH buyer in the market.
“We believe that we’ll be able to accumulate more Ether, per fully diluted share, much faster than any other Ethereum-based project, or certainly faster than the Bitcoin-based projects,” Lubin stated.
With the company’s massive holding, SharpLink believed that it had successfully overtaken other corporate entities on record in ETH holding.
However, Las Vegas-based company BitMine Immersion Technologies showed up and knocked it off.
From June 30 to July 8, BitMine operated an Ethereum strategy that delivered 833,137 ETH, which has a total value of above $2.9 billion.
Consequently, BitMine now owns the largest Ethereum treasury in the world and the third largest crypto treasury overall. It is only behind Strategy and MARA Holdings.
The expectation is that Ethereum price will react positively to the buying pressure of corporate entities.
Unfortunately, the top altcoin’s move decided to follow a downtrend, closely aligning with a record daily outflow of $465 million in US spot ETH ETFs.
In the absence of strong catalysts or appropriate market conditions, ETH price could dip further, likely returning to below $3,000.
🔥Join the Fast Moving Train With SUBBD
With Ethereum giving up its gains, risk-takers may want to consider investing in SUBBD. With this actively growing project, users are promised tools, rewards, and decision-making power.
So far, the platform has raised over $953K, surpassing expectations and drawing more investor attention than initially anticipated.
The project is offering users staking rewards of up to 20% to early backers. However, there are only 20 hours left before the price is raised.
Current Presale Stats
- Current Price: $0.0561
- Amount Raised So Far: $953,586
- Ticker: SUBBD
To join one of the best crypto presales of 2025, you can make a purchase using your credit/debit card or supported cryptocurrency assets.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
Unlock the Secrets of Ethical Hacking!
Ready to dive into the world of offensive security? This course gives you the Black Hat hacker’s perspective, teaching you attack techniques to defend against malicious activity. Learn to hack Android and Windows systems, create undetectable malware and ransomware, and even master spoofing techniques. Start your first hack in just one hour!
Enroll now and gain industry-standard knowledge: Enroll Now!
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