- Sharplink Gaming’s $295 million ETH acquisition raises its holdings to 438,000 ETH amid rising trading volume and price momentum.
- Ethereum’s daily trading volume jumped to $30 billion as institutional demand absorbed more ETH than the network issued in 30 days.
- Bitmine Technologies now leads all corporate holders with 566,776 ETH after securing a $500 million investment from Peter Thiel.
Ethereum’s market price advanced past the $3,900 level after a notable 2.87% daily increase. This momentum followed a sharp rise in trading activity, with ETH’s 24-hour volume soaring by 26.6% to reach $30 billion, based on data from CoinMarketCap.
The latest price surge closely followed Sharplink Gaming’s announcement of a $295 million Ethereum acquisition. The purchase added approximately 77,210 ETH to its treasury holdings. This move came just weeks after the firm acquired nearly 80,000 ETH for $258 million, reflecting a consistent accumulation strategy.
Technical Indicators Beumrage in ETH Rally
Important technical signals show the existence of upward tendencies. The Moving Average Convergence Divergence (MACD) histogram is +21.93, whereas the 14-day Relative Strength Index (RSI) has achieved 81.75. This is an indicator of long-term demand, with Ethereum looking at the next resistance point at the price of $4,284, beating the 61.8 percent Fibonacci retracement level at around the price of $2,950.
Sharplink, traded on Nasdaq under SBET, now holds over 438,000 ETH valued at around $1.7 billion. The company reportedly transferred $145 million USDC to Galaxy Digital before this acquisition, fueling market expectations of continued buying.
Institutional Demand Outpaces ETH Supply Growth
The Ethereum network has produced around 72,790 new ETH in the past 30 days, a figure that Sharplink’s purchase alone exceeds. Such activity emphasizes growing institutional interest and shrinking liquid supply, which may support price gains.
While Sharplink’s position remains strong, Bitmine Technologies has overtaken it with 566,776 ETH worth $2 billion. This jump followed a $500 million Ethereum-focused investment from Peter Thiel, boosting Bitmine’s strategic ETH initiatives.
GameSquare Launches ETH Treasury Program
Earlier this month, GameSquare Holdings introduced a $100 million Ethereum treasury program. The firm made an initial $5 million purchase, acquiring 1,819 ETH at an average price of $2,749. It plans to use Ethereum-based protocols for returns.
The Ethereum Foundation now ranks third among institutional holders. With consistent corporate demand and active accumulation, Ethereum’s price remains positioned for further upside as it nears its all-time high.