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07/26 06:53

SharpLink Transfers $145M USDC, Hinting at Ethereu

SharpLink Transfers $145M USDC, Hinting at Ethereum Purchases

The latest news is that 145 million newly minted USDC stablecoins have arrived at SharpLink Gaming (NASDAQ: SBET). The move signals the Nasdaq-listed company’s intention to add more ETH to its existing 360,807 ETH reserves. The company is currently the largest listed company with a ETH reserve, and this move will further expand its market leadership.

SharpLink wallets have received USDC today, but have not purchased any ETH so far this week. In a subsequent transaction, the company transferred the entire $145 million USDC to a wallet associated with major liquidity provider Galaxy Digital. Previously, the company acquired most of its ETH through Galaxy Digital. Therefore, the latest transfer hints at its intention to continue its ETH accumulation plan.

SBET shares have been volatile, falling 9% over the past week. However, its monthly price chart is still up 118% on the back of the company’s active accumulation of ETH. 

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