Sharplink dusts off the FalconX checkout 🛒 after eight-month ETH siesta

Sharplink has purchased 5,000 Ether worth $7.85 million from crypto prime brokerage FalconX, its first ETH acquisition in eight months, according to on-chain data from Arkham. The transaction landed on Thursday as Ether fell 5% over 24 hours in a broad crypto sell-off, dropping below $1,560 and touching $1,537, its lowest price in 2026. Bitcoin slipped under $59,000 in the same move, and Tether's USDT briefly overtook Ether by market value during the rout, at roughly $186 billion to Ether's $185 billion.

Sharplink's last FalconX purchase was on Oct. 26, 2025, when it bought 19,270 ETH for $78.3 million. The company now holds 876,285 ETH and ETH equivalents accumulated through active purchases and staking rewards. Sharplink is the second-largest public Ether treasury company behind Tom Lee's Bitmine Immersion (BMNR), which held about 5.67 million ETH in mid-June after acquiring another 52,203 ETH last week. Onchain analyst EmberCN put Sharplink's average purchase price at about $3,609 per coin, implying an unrealized loss of around $1.79 billion with Ether trading near $1,555. Sharplink has not publicly confirmed the transfer.

The company first received Ether from FalconX this year and the renewed inflow could signal a revival of its active accumulation strategy. "I'm seeing genuine corporate accumulation conviction holding strong amid subdued price action," Andri Fauzan Adziima, research lead at Bitrue Research Institute, told Cointelegraph. Sharplink CEO Joseph Chalom told Cointelegraph in May that he saw three potential catalysts for Ether's price: passage of the CLARITY Act in the US, a return to market risk appetite tied to easing geopolitical tensions and cooling of the artificial intelligence investment thesis, and continued growth of real-world asset tokenization. The Senate has yet to vote on its version of the CLARITY Act, and the House Financial Services Committee has scheduled a hearing on the bill for July 17. Tokenized real-world assets have reached a distributed asset value of $31.55 billion, close to its highest level this year.

Sharplink was founded in 2019 as an affiliate marketing service provider to the sports betting and gambling industries, pivoting to become an Ethereum treasury company in June 2025 with Consensys co-founder and CEO Joe Lubin named as chairman. It became the largest publicly traded corporate holder of ETH before losing the title to Bitmine in August, just two months after Bitmine launched its own Ether buying strategy. Sharplink (SBET) has leaned further into Ether even as the price has fallen, rebranding from SharpLink Gaming in February and expanding from basic staking into other onchain yield strategies. The company reported $12.1 million in revenue in the first quarter, compared with $742,000 a year earlier, and recently backed Ethlabs, a nonprofit founded by former Ethereum Foundation researchers, alongside Bitmine and Lubin.

Sharplink's Nasdaq-listed shares closed down 3.5% at $4.56 on Thursday and have fallen roughly 27% in a month and 50% over six months. The purchase also comes days before the company is expected to join the Russell 2000 and Russell 3000 indexes on Monday, a milestone Chalom said in May would broaden the shareholder base and strengthen access to capital markets.