The Sports Marketing Company listed at Nasdaq, Sharplink Gaming, bought Ether (ETH) dollars (ETH) on Sunday, while ETH prices were over $ 3,000.
The company, whose board of directors is chaired by the co-founder of Ethereum, Joseph Lubin, has been all in Eth since the end of May. This last transaction carries the total value of the Treasury of Sharplink Gaming at 198,300 ETH, worth almost 608 million dollars at the time of the editorial staff.
According to the ONCHAIN Analytics Arkham Intelligence and Blockchain Explorer Etherscan service, a portfolio belonging to Sharplink Gaming received 16,370 ETH worth $ 48.7 million on Sunday, a portfolio probably controlled by the Ethereum Consensys development organization.
The transaction follows the acquisition by the company of 10,000 ETH from the Ethereum Foundation on Friday.
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Gaming Sharplink and the rise of ETH as a reserve asset
Sharplink Gaming is the best treasure of corporate ether in the world. At the time of the editorial staff, the company holds 181 860 ETH (LSTH) and ETH of 1619 and 16,419 ETH.
The result is a total of almost 198,300 ether – a little more than the 197,400 ETH held by the Ethereum Foundation according to the data by Arkham Intelligence.
Overall, corporate ether reserves have now reached nearly 1.34 million ETH, estimated at nearly $ 4.1 billion when writing the editorial’s time.
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The co-founder Ethereum Joe Lubin
Sharplink Gaming announced his pivot to be an Ether corporate treasure at the end of May and appointed the co-founder of Ethereum, Joseph Lubin, as president of his board of directors. At the time, the company concluded a securities purchase agreement for a private investment in public equity worth $ 425 million with the participation of the Ethereum Consensys infrastructure company.
On Wednesday, Ethereum Lubin said that good treasury bills are crucial for the development of Ethereum ecosystem. He explained that a large quantity of Eth is in circulation and must be captured.
Lubin said it was the reasoning that led him to get involved with Sharplink Gaming. “It will be essential to allow the dynamics of the offer of the ether offer the right size while we are creating more and more applications,” he said.
The announcement also follows Ether with $ 3,000 last week. According to Nansen Data, ETH is negotiated at $ 3,050 from press time after seeing its price increase by 3.5% in the last 24 hours.
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