Company Known as Ethereum’s MicroStrategy Purchased Another Large Amount of ETH Today

According to on-chain data, SharpLink, which attracts attention with its Ethereum investment strategies, sent 108 million USDC to Galaxy Digital and purchased 14,933 ETH in the last 7 hours.

The average price of the purchase was $3,550, which corresponds to an amount of approximately $53 million.

SharpLink then transferred 55.56 million USDC back to Galaxy Digital and continued its Ethereum purchases. This began to resemble the company's ETH accumulation strategy, similar to MicroStrategy, known for its aggressive Bitcoin acquisitions.

SharpLink, which has been accumulating Ethereum since the beginning of June, has purchased a total of 464,000 ETH to date. The total value of these assets reaches approximately $1.62 billion, with an average entry price of $3,029. The company's current ETH position represents approximately $214 million in unrealized profit.

SharpLink was founded by Joseph Lubin, one of the Ethereum co-founders, and aims to be the MicroStrategy of the ETH world.

*This is not investment advice.