Sharplink Buys 10K ETH as Ethereum Closes Three Straight Quarters in Red

1 hrs ago

By Rupam Roy

News Writer & Journalist

Expertise : Crypto, Blockchain, Web3, Artificial Intelligence (AI), Global News, Stock Market

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

Read full bio

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Sharplink Buys 10K ETH as Ethereum Closes Three Straight Quarters in Red

Highlights

Sharplink recently bought 10,000 Ethereum (ETH) worth $16.1 million.
The company now holds 886,725 Ethereum after the latest acquisition.
Ethereum price is set to end the third straight quarter in the red for the first time.

AD Save up to 20% on crypto swaps in 1 click

The Ethereum treasury firm Sharplink (SBET) is once again drawing attention from market participants amid its latest ETH bets. According to a recent report, the firm has acquired 10,000 Ethereum recently, valued at around $16.1 million.

Simultaneously, the company has also accelerated its stock buyback program, signaling confidence in its long-term capital strategy. However, despite the aggressive bet, the ETH price has continued to struggle and is set to end the third consecutive quarter in the red for the first time.

Sharplink Continues to Make Aggressive Bet on Ethereum

The leading ETH treasury firm Sharplink has continued its aggressive bets on Ethereum with another recent purchase. According to the company’s press release, the firm has acquired 10,000 ETH at an average price of $1,611 per token recently.

Meanwhile, this latest purchase has lifted its total Ethereum holdings to 886,725 ETH. Notably, the latest acquisition comes after a $75 million capital raise through a registered stock offering.

In addition, Sharplink also repurchased over 2.13 million shares of its common stock, SBET, at an average price of $4.69 per share. Since August 2025, the company has now bought back more than 4.07 million shares. However, despite the bet, the SBET stock was down 2.5% to $4.79 at the time of writing.

Ethereum Treasury Sharplink SBET Stock — Source: Yahoo Finance

Meanwhile, this latest share buyback and Ethereum purchase comes after the firm recently joined the Russell 2000 and 3000 indexes this week.

Ethereum Price to End Third Straight Quarter in Red

The latest bet from Sharplink comes as Ethereum (ETH) price has continued to struggle to break through the $1,600 mark. At the time of writing, the ETH price was down 1.2% to $1,555, and its quarter-to-date (QTD) losses were recorded at around 25%.

Ethereum Price Historical Returns — Source: CoinGlass

Meanwhile, ETH is also about to close the third straight quarter in the red for the first time, which has also fueled concerns among traders. Despite that, some analysts remain bullish amid the continuing bets from the Ethereum treasury firms like Sharplink.

Besides, Bitmine has also aggressively bet on ETH, as evidenced by its latest purchase of 27,084 Ethereum. Amid this, market expert Ted Pillows said that ETH price may witness a relief rally next month if it manages to hold the $1,500 support.

Ethereum (ETH) Price Analysis — Source: Ted Pillows, X

On the other hand, his chart showed that losing the $1,500 support could extend its fall to $1,400 or even lower. Having said that, investors should tread cautiously while putting their bets amid the ongoing volatile scenario in the broader crypto market.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.