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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
07/01/2026

Sharplink Adds $16M in ETH as Price Sinks 68% From Peak

What happened: Sharplink (SBET) purchased 10,000 ETH (~$16M) during the week ending June 28, its first ETH buy since October 2025.

Sharplink Adds $16M in ETH as Price Sinks 68% From Peak

What happened: Sharplink (SBET) purchased 10,000 ETH (~$16M) during the week ending June 28, its first ETH buy since October 2025. The firm's total ETH holdings now stand at 886,725 ETH (~$1.38B). ETH is down 22% month-over-month and 68% from its August 2025 all-time high of $4,946. Sharplink also completed a $75M direct offering and repurchased 2.13M SBET shares, though its stock is down 88% from its 52-week high.

Why it matters: Sharplink's dual-track strategy—acquiring ETH and buying back shares—signals a long-term bet on Ethereum's recovery, even as the firm's own stock faces dilution risk. CEO Joseph Chalom emphasized maximizing ETH per share as the guiding principle. The move stands in contrast to broader market outflows and highlights divergent treasury management strategies among crypto-native firms.

Source: Decrypt