Sharplink, the second-largest Ethereum (ETH) treasury, purchased an additional 29,196 ETH for $46.7 million on June 27. In fact, Lookonchain reported that Ethereum DATs collected 39,196 ETH, worth $62.4 million, over the past three days.
This marks Sharplink’s second purchase after an eight-month hiatus. The first occurred when the company added 5,000 ETH through FalconX, worth about $7.88 million at an average price of $1,576. Through these acquisitions, Sharplink now owns a total of 868,699 ETH, including 22,102 tokens. Meanwhile, the company’s stock closed at $4.81, up 5.48% from the previous trading day.
Sharplink vs Bitmain
Meanwhile, on June 22, Bitmine, the largest platform, appeared Ethereum DAT, paid $92 million to acquire An additional 52,203 Ethereum. As of now, Bitmine holds 5,672,956 ETH worth $8.92 billion.
Bitmine’s Tom Lee also stressed that his company plans to continue growing steadily through 2026 and eventually achieve “5% chemistry.” Although Sharplink has not yet revealed such plans, the ETH accumulation strategy has been relatively comparable.
Ethereum market dynamics paint a worrying picture
All of this happened as ETH traded at $1,568.75, the lowest level since April 2025. Meanwhile, Ethereum’s Spot Taker CVD lost some of its strong buying momentum, which is a major turnaround compared to June 2025.
Although buyers are still present in the market, their influence has diminished. In contrast to the strong accumulation phase we saw a year ago, current demand indicates buyer exhaustion.
Final summary
- Sharplink has added more ETH in the past three days, bringing its total ETH holdings to 868,699 ETH in total.
- Sharplink’s stock price also jumped after ETH accumulated, but the ETH price was changing around the $1,500 price level.
