ShaprLink Gaming, a popular marketing company based in Minnesota, has made another Ethereum ($ETH) acquisition. As per the data from Lookonchain, SharpLink has acquired a significant $17.45M in Ethereum ($ETH), showing considerable confidence in the flagship altcoin. The on-chain analytics platform shared the details of SharpLink’s latest $ETH purchase and growing confidence in Ethereum.
SharpLink Buys 4,904 $ETH, Showing Growing Confidence in Top Altcoin
In line with the on-chain data, SharpLink Gaming has reportedly acquired 4,904 $ETH to raise its Ethereum holdings. This move underscores the platform’s deep bet on the top altcoin. Hence, the purchase of $17.45M in $ETH displays its aggressive Ethereum accumulation strategy.
Particularly, SharpLink has carried out the above-mentioned $ETH transactions via a Coinbase Prime hot wallet a few hours back. In this respect, the platform’s Ethereum ($ETH) appetite has considerably intensified since the 1st of July. As a result of this, the cumulative Ethereum holdings of the platform have reached 157,140 $ETH. This figure denotes an average price of up to $3,136.
Ethereum Witnesses Massive Institutional Demand Amid Surge Toward ATH
According to Lookonchain, the total $ETH held by SharpLink signifies a rough amount of $493M in investment in Ethereum. Apart from that, the latest buyout is a major $ETH acquisition that induces notable transactions to Ethereum staking entities and validators. Thus, amid the continuous evolution of the Ethereum ecosystem, such acquisitions indicate the broadening institutional demand, while the prominent altcoin is moving toward its ATH.
