Ethereum Stays Above $2,500 as SharpLink Gaming Commits to ETH Treasury Strategy

Ethereum is maintaining levels above $2,500, as SharpLink Gaming doubles down on its strategy to make ETH the centerpiece of its corporate treasury, highlighting Ethereum’s growing role as a crucial layer in global finance.

At present, Ether (ETH) trades around $2,505, reflecting a modest 0.56% increase over the last 24 hours, based on CoinDesk Research’s technical analysis model. Meanwhile, the wider crypto market, tracked by the CoinDesk 20 Index (CD20), has advanced 0.34% in the same timeframe.

SharpLink Gaming, Inc. (NASDAQ: SBET), a Minnesota-based company specializing in digital performance marketing for the sports betting and iGaming industries, has made headlines for its decisive pivot toward Ethereum. Leveraging its AI-powered C4 platform, SharpLink helps sportsbooks and online casinos improve customer acquisition and engagement through tailored, data-driven marketing. Through a series of acquisitions and strategic partnerships, the company has solidified its place in the growing sports betting ecosystem.

On July 4, SharpLink shared on X (formerly Twitter) that it has become the first publicly traded company to officially adopt ETH as its primary treasury reserve asset. The firm outlined a detailed plan to accumulate and stake ETH, with the goal of growing ETH-per-share and delivering sustained value for shareholders.

SharpLink’s strategy goes far beyond simply holding ETH. The company plans to actively engage in staking, restaking, and deploying ETH into yield-generating opportunities across the Ethereum ecosystem. It emphasized ETH’s potential as a corporate treasury asset thanks to its capacity to earn staking rewards, participate in decentralized finance (DeFi) protocols, and its inherent scarcity and security—all aligning with the future of the internet’s infrastructure. This approach marks a significant shift from traditional treasury management, introducing DeFi principles into corporate finance.

This transition began on May 27, when SharpLink announced a $425 million private placement led by Consensys and other major crypto backers. The funds were allocated specifically for acquiring ETH to anchor SharpLink’s treasury. As part of this strategic move, Ethereum co-founder and Consensys founder Joseph Lubin joined SharpLink’s Board of Directors as Chairman, reinforcing the company’s commitment to blockchain innovation.

Since publicly launching its ETH-centric treasury model on June 2, SharpLink has rapidly grown its Ethereum holdings. Between May 30 and June 12, the firm acquired roughly 176,271 ETH valued at approximately $463 million, with an average cost of $2,626 per ETH.

From June 16 through June 20, SharpLink added another 12,207 ETH, spending around $30.7 million—partially funded through $27.7 million raised from At-The-Market (ATM) equity sales.

By June 24, SharpLink’s ETH reserves totaled 188,478 ETH, with all of it deployed into staking protocols to earn yield. As of July 1, the company’s holdings had grown to 198,478 ETH, producing over 220 ETH in staking rewards since the strategy launched.

Joseph Lubin described placing Ethereum at the center of SharpLink’s capital structure as both a technological innovation and a sign of institutional confidence. He believes this positions SharpLink as a leader in the next evolution of digital business. Meanwhile, CEO Rob Phythian has said that the company’s upcoming Nasdaq closing bell ceremony on July 7, 2025, will symbolize this transformation and highlight how digital assets can blend with the regulatory demands of public markets and corporate governance.

With this aggressive treasury shift, SharpLink stands at the intersection of sports betting, blockchain technology, and decentralized finance, offering shareholders regulated exposure to Ethereum’s upside while pursuing its mission to reshape the iGaming industry.

Technical Analysis Overview

• Between July 4 at 15:00 and July 5 at 14:00, ETH rose 2.2%, climbing from $2,475.48 to $2,530.02.
• A sharp selloff between 13:06 and 14:05 pushed ETH back to $2,514.85 before buying resumed.
• Solid support emerged between $2,480 and $2,500 on July 5 around 16:00, as 382,821 ETH changed hands.
• A bullish move on July 4 at 22:00 sent ETH above $2,520, with resistance forming near $2,530.
• ETH consolidated around $2,515, showing lower volatility and an ascending recovery trendline after 13:40.
• Momentum remains neutral in the near term but leans bullish overall, preserving the upward trend established in late June.

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