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SharpLink Gaming Buys $295 Million in ETH as Ether Hits $3,900

Twitter icon  •  Published 8 months ago on July 28, 2025  •  Hassan Maishera

ETH is up nearly 4% and is trading above $3,900 as SharpLink purchases $295m worth of Ether to bring its total holdings to 438k Ether.

SharpLink Gaming Buys $295 Million in ETH as Ether Hits $3,900

TL;DR

  • Ether is up nearly 4% in the last 24 hours and currently trades above $3,900.

  • SharpLink Gaming has continued its Ether buying spree after splashing $295 million on 77,210 ETH coins.

Ether Hits $3,900 as Market Turns Bullish

The cryptocurrency market was bearish last week, with Bitcoin dropping to the $115k level. However, the market conditions have turned over the weekend, and Bitcoin is now trading close to $120k.

Ether, the second-largest cryptocurrency by market cap, is up nearly 4% in the last 24 hours, making it the second-best performer in the top 10 behind BNB. The rally allowed Ether to cross the $3,900 mark once again and is now heading towards the $4k psychological level.

This latest development comes as Joseph Lubin-backed SharpLink Gaming has purchased an additional $295 million worth of Ethereum, as it continues its Ethereum accumulation strategy. The Nasdaq-listed firm currently holds about 438,017 ETH, worth $1.7 billion at current market prices.

While Bitcoin has hit a new all-time high in this cycle, Ether hasn’t. Ether is currently 20% away from the all-time high price of $4,891 it achieved in November 2021. If the current market conditions persist, Ether could rally to a new all-time high in the coming weeks or months.

 

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Author

Read Hassan Maishera's articles →
Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

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