Ethereum hits $4,000 as SharpLink buys another 22,000 ETH
Ethereum has broken out of its week long slumber, posting fresh gains as whales and institutions double down. SharpLink, one of the largest public holders of ETH has increased its stack with a fresh buy, offering a boost to price.
One major driver of the latest uptick is a fresh wave of large-scale buys from corporate wallets. Over the past day, SharpLink Gaming, one of the most aggressive ETH treasury builders, purchased another 21,959 ETH, worth roughly $85.5 million at current prices. The purchase brings its total holdings to 543,898 ETH, valued at around $2.12 billion.
SharpLink has been ramping up its position for weeks, and its latest buy follows a $200 million stock offering aimed at scaling its Ethereum treasury. The company has been locked in an arms race with other ETH-focused treasury firms, and their consistent buying pressure appears to be lifting prices.
