Ethereum Important Signal: SharpLink Increases Holdings of 54 Million USD ETH, "Mysterious" Whale Quietly Buys 300 Million USD

Ethereum (ETH) has recently sent strong signals again, indicating that institutions and Whales continue to increase their bullish bets on it. SharpLink Gaming continues its aggressive Ethereum acquisition strategy, having purchased approximately 15,822 ETH worth about $53.9 million. Meanwhile, a "mysterious" Whale quietly bought $300 million worth of ETH, drawing market attention. These large-scale capital flows suggest that Ethereum is set to achieve new breakthroughs in institutional adoption and market performance.

SharpLink is bullish on ETH: Building an Ethereum version of Strategy

(Source: Arkham)

SharpLink Gaming has spent 108.57 million USDC in the past two days to acquire 30,755 Ether, with an average price of 3,530 dollars per token. With this latest acquisition, SharpLink currently holds 480,031 ETH, valued at 1.65 billion dollars.

The company imitates Strategy's Bitcoin strategy: building a large ETH treasury using the capital markets. The main financing rounds include the $425 million private placement completed in May and the $413 million raised through stock issuance in July.

The company's leadership is also continuously adjusting to support this strategy. On July 25, SharpLink appointed former BlackRock digital asset strategy head Joseph Chalom as co-CEO. Chalom previously assisted in managing the iShares Bitcoin Trust and Ethereum Trust, with asset sizes of $87 billion and $10 billion, respectively. Ethereum co-founder and Consensys CEO Joseph Lubin serves as the chairman of the board.

Competition and Market Perspectives Among Ethereum Financial Companies

On July 19, SharpLink briefly became the largest corporate holder of ETH, surpassing the Ethereum Foundation's reserve of 233,000 ETH. However, it was quickly surpassed by Bitmine Immersion Technologies, which holds 625,000 ETH and is backed by Peter Thiel. According to data on strategic ETH reserves, as of August 4, 63 companies collectively hold 2.74 million ETH, worth $9.71 billion.

Analysts say that SharpLink's activities reflect the growing role of Ethereum as a strategic reserve asset. Many have pointed out that Ethereum dominates rapidly rising fields such as stablecoins and tokenization, indicating strong momentum in the development of the Ethereum network.

However, not all observers are fully convinced. An analyst from Seeking Alpha believes that SharpLink's stock SBET is trading at nearly 4 times its ETH holdings value and describes it as speculative and overvalued. He suggests that investors buy ETH directly or through exchange-traded funds (ETFs) to avoid the premium. Despite differing views on the valuation, SharpLink's stock price has risen by 35% in the past month and by 112% year-to-date, making it one of the most followed Ethereum-listed companies.

"Mysterious" Whale quietly bought $300 million worth of ETH

(Source: Arkham)

The most eye-catching transaction came from a wallet tracked by Arkham Intelligence. Over the course of three days, the wallet purchased approximately $300 million worth of ETH through Galaxy Digital's over-the-counter trading platform. The wallet currently has an unrealized loss of about $26 million. However, the scale and speed of the purchases indicate that this is a strategic long-term accumulation rather than a speculative short-term trade.

Industry experts point out that these Whale activities reflect a broader and more bullish outlook for Ethereum. In July, driven by record institutional inflows, increasing ETF exposure, and stablecoin-driven DeFi expansion, ETH surged above $3,900. Experts believe this is not a temporary rebound, but a sign of Ethereum's expanding role in global finance.

The surge in on-chain activity supports this viewpoint. Sentora (formerly known as IntoTheBlock) recently reported that the number of daily active addresses on Ethereum reached 931,000, setting a new record high in nearly two years. This growth highlights the continuous increase in user engagement and interest across the entire network.

Regulatory Trends and Future Outlook

Moreover, as U.S. officials are willing to lead the global finance into the blockchain era, the regulatory trend may further strengthen Ethereum's prospects. Fundstrat's renowned venture capitalist Thomas Lee stated that if Ethereum continues to be the smart contract platform of choice for Wall Street firms, its valuation could rise significantly, potentially reaching $60,000.

Conclusion:

SharpLink is actively accumulating ETH, and the "mysterious" Whale quietly purchased $300 million, all of which injects strong bullish signals into the Ethereum market. These large-scale capital flows indicate that Ethereum is set to achieve new breakthroughs in institutional adoption and market performance.