SharpLink (SBET) has resumed Ethereum accumulation after an eight-month pause, purchasing 5,000 ETH on June 26, according to on-chain data highlighted by Lookonchain. The firm received the ETH, valued at $7.85 million, from FalconX, bringing its total holdings to 876,285 ETH, worth approximately $1.4 billion at current prices.
The company has also generated nearly 22,102 ETH from staking during the pause in active buying. Its average Ethereum purchase price stands at $3,609, leaving the firm with an unrealized loss of about $1.71 billion against an ETH market price of roughly $1,570.
The resumption of accumulation was followed by a 0.22% rise in SBET stock in after-hours trading. Transaction history shows that SharpLink has continued to use FalconX and Coinbase Prime for periodic large purchases, reflecting an ongoing institutional allocation to ETH as a long-term reserve asset rather than a short-term holding.
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