SharpLink invests an additional $30 million to increase the position in ETH, holding 188,000 pieces firmly seated as the Ethereum leader among listed companies.

SharpLink Gaming (SBET), a publicly traded company focused on online gaming and sports betting marketing, announced yesterday (24) that it had spent $463 million to buy 176,271 Ether (ETH), announcing that it had bought another 12,207 ETH at an average price of $2,513 between June 16 and 20, spending $30.67 million. (Synopsis: SharpLink Gaming smashed $460 million to buy 176,000 ETH, but its stock price plummeted by nearly 70%) (Background supplement: SharpLink Gaming plans to raise $425 million to buy ETH, and its stock price soared 800% in a single day) SharpLink Gaming (SBET), a publicly traded company focused on online gaming and sports betting marketing, announced on June 14 that it spent $463 million to buy After 176,271 Ether (ETH), another announcement was made yesterday (24), announcing that between June 16 and 20, another 12,207 ETH was purchased at an average price of $2,513, spending $30.67 million. SharpLink Gaming's Ethereum position reached 188,000 After this increase, SharpLink Gaming's total Ethereum position has reached 188,478 ETH, becoming the largest Ethereum holding company among listed companies. In addition, the increase was mainly funded by the sale of 2,547,180 common shares under the ATM mechanism of $27.7 million during the same period. At present, the company has staked all of its ETH participation in Proof of Stake, and has received 120 ETH rewards since June 2, in an attempt to strengthen cash flow through staking proceeds. SharpLink Gaming stock price rebounded slightly According to Google financial data, SharpLink Gaming stock (SBET) rose 8.77% to $9.8 tentatively after the opening of U.S. stocks on the evening of June 24, Taiwan time, with a market value of about $594 million. However, it is worth noting that after SharpLink Gaming announced that it had spent a lot of money to build Ethereum strategic reserves, the market questioned its feasibility, and the stock price once plummeted from $80 to $9.21, and the stock price is still a long way from returning to its previous high. Can SharpLink Gaming stock return to its previous highs? The main reasons for SharpLink Gaming's previous sharp decline in the stock price include: Market misunderstanding and panic: S-3 documents registered 58.7 million shares for potential resale, and investors mistakenly believed that insiders were about to sell the shares, triggering panic selling pressure. Although the company's senior management clarified that this is standard procedure and there is no actual selling of shares, market confidence is difficult to recover in the short term. Ethereum price volatility: SharpLink Gaming pegged the company's value to Ethereum, which is more volatile than Bitcoin, and the overall sentiment towards cryptocurrencies is currently weak, affecting investors' confidence in the company's strategy. However, some analysts currently point out that SharpLink Gaming's stock price may still rebound sharply in the future, specifically because: Ethereum's long-term bullish expectations: SharpLink Gaming holds and stakes Ethereum, which is expected to generate stable income. Analysts predict that the price of Ethereum may recover to the $4,000 to $5,000 range in 2025, which, if realized, will significantly increase the value of the company's assets and drive the stock price higher. Market misunderstandings fade: The panic caused by the S-3 document is a short-term emotional reaction, which has been positively clarified by the company's top management, and there is no evidence of large-scale stock selling. As the market gradually digests this information, investor confidence may stabilize, driving the stock price rally. Simulating Microstrategy's Success: SharpLink Gaming's Ethereum Reserve Strategy is similar to Strategy's Bitcoin strategy, which has hit new highs after a long period of holdings. If Ethereum market sentiment improves, SharpLink Gaming may replicate a similar path to attract institutional investors. Related reports In the shadow of the war, the crypto market has once again become a frightened bird? Where does the value of ETH come from? Ethereum from asset logic to business strategy full analysis Ethereum is about to take off? Four major factors may become the coin price propeller "SharpLink smashed another $30 million to increase its position in ETH, holding 188,000 shares to stabilize the hegemony of listed company Ethereum" This article was first published in BlockTempo "Dynamic Trend - The Most Influential Blockchain News Media".