SharpLink has continued its renewed Ether buying campaign by acquiring another 39,196 ETH worth about $62.4 million over the past three days after returning to the market last week.
Summary
- SharpLink has bought another $62.4 million worth of Ether over three days after ending an eight month buying pause.
- The company has backed Ethlabs alongside BitMine and Joe Lubin to support Ethereum’s institutional development.
- Ether has remained under pressure as ETF outflows continued and the token traded well below SharpLink’s average purchase price.
According to on-chain data from Arkham, the crypto treasury company bought 5,000 ETH on Friday worth about $7.9 million, before adding another 29,196 ETH valued at roughly $46.7 million through three over the counter transactions on Saturday. The latest purchases followed a 5,000 ETH acquisition on Thursday, its first direct Ether purchase in eight months.
The fresh accumulation comes days after SharpLink resumed buying ETH as the token traded near its lowest price of 2026. As previously reported by crypto.news, a wallet linked to the company received 5,000 ETH from FalconX on Thursday, ending a buying pause that had lasted since October.
SharpLink resumes active accumulation
Taken together, the recent transactions suggest SharpLink has restarted active treasury accumulation after relying largely on its existing holdings and staking rewards for several months. As per Lookonchain data, the company held 876,285 ETH after Thursday’s purchase, including 22,102 ETH earned through staking, with an average acquisition price of about $3,609.
Lookonchain also estimated that SharpLink’s Ether treasury was sitting on an unrealized loss of roughly $1.71 billion as ETH continued trading well below the company’s average purchase price.
Alongside the treasury expansion, SharpLink announced on Monday that it has joined BitMine, Ethereum co-founder and SharpLink chairman Joe Lubin, and other Ethereum contributors in supporting Ethlabs, a new research and development nonprofit focused on preparing Ethereum for institutional use.
According to the company, Ethlabs will work on improving Ethereum’s readiness as stablecoins, tokenized real world assets, investment funds, and AI-driven commerce increasingly settle on the network. SharpLink said the organization was created to help Ethereum handle institutional demand at scale.
Ether remains under pressure
The renewed buying has come during a difficult period for Ethereum. Market data cited in the original report showed ETH was down 22.8% over the past month and nearly 50% since the beginning of the year. The decline briefly allowed Tether’s USDt stablecoin to overtake Ether by market capitalization last week.
Institutional demand through exchange traded funds has also remained weak. U.S. spot Ether ETFs posted their seventh consecutive week of net outflows, losing $12.9 million last week, with most of the withdrawals coming from BlackRock’s iShares Ethereum Trust.
The latest purchases also arrive ahead of SharpLink’s expected inclusion in the Russell 2000 and Russell 3000 indexes following the latest FTSE Russell reconstitution. Earlier, CEO Joseph Chalom said the additions could increase the company’s shareholder base and improve access to capital markets while supporting its long term Ether treasury strategy.
Be the first to comment