According to @AltcoinGordon, publicly-listed SharpLink Gaming (SBET) has become the largest corporate holder of Ethereum (ETH), increasing its treasury to 188,478 ETH after a recent $30.7 million purchase. Despite this significant accumulation, SBET's stock price plummeted 70% in after-hours trading. The sharp decline is attributed to a new S-3ASR filing with the SEC, which allows early private investors to sell up to 58.7 million shares, creating immense selling pressure. However, BTCS CEO Charles Allen suggests a potential strategic twist, speculating that SharpLink may have quietly raised up to $1 billion via an at-the-market offering to fund an even larger ETH purchase, which could be announced soon and potentially reverse the stock's decline. This volatility occurs as ETH's price itself fell over 4% to around $2,492.

According to @doctortraderr, Ethereum (ETH) is showing strong bullish momentum, surging towards the $3,000 resistance level following favorable macroeconomic news. A tentative U.S.–China trade framework and a soft U.S. May CPI report, which showed a mere 0.1% month-on-month increase, have fueled risk-on sentiment and expectations of potential Federal Reserve rate cuts, as detailed in the report. Technical analysis highlights an accelerating up-channel with immediate support at the $2,750–$2,760 band, while key upside targets are $2,900 and the psychological $3,000 zone. This price action is supported by strong fundamentals, including a record 34.65 million staked ETH and futures open interest hitting a new high above $21.7 billion, underscoring steady institutional interest. In contrast, SharpLink Gaming (SBET), a Nasdaq-listed company with an ETH treasury strategy, saw its stock plummet 70% in after-hours trading. The drop followed an SEC filing enabling the resale of nearly 58.7 million shares. However, Charles Allen, CEO of BTCS, speculated in an X post that this sell-off might be a strategic prelude to a major announcement, possibly a $1 billion ETH purchase, which could significantly impact the stock's trajectory.

According to Joseph Lubin, SharpLink Gaming purchased 12,207 ETH for $30.7 million, increasing its Ethereum holdings to 188,478 ETH, as stated in a company press release. This acquisition was funded by a $27.7 million at-the-market offering, making SharpLink the largest publicly traded ETH holder globally with approximately $470 million in assets. Following a $450 million private funding round involving ConsenSys, Galaxy, and Pantera Capital, the company has staked all ETH, earning 120 ETH in rewards and reporting a nearly 19% increase in ETH per share, according to the company's disclosures. Lubin emphasized confidence in Ethereum's utility for unlocking business and stockholder value, which could signal bullish sentiment for ETH demand among institutional investors.

According to Joseph Lubin, Chairman of SharpLink Gaming, the company has increased its Ethereum (ETH) holdings to 188,478 ETH through a $30.7 million purchase, reflecting confidence in ETH's utility as stated in the press release. The acquisition of 12,207 ETH at an average price of $2,513 per coin was funded by a $27.7 million ATM offering, with SharpLink staking all its ETH to earn 120 ETH in rewards and reporting a nearly 19% increase in ETH per share, potentially boosting ETH demand and prices.