According to @EricBalchunas, crypto proxy stock Bitmine Immersion (BMNR) has surged over 3,000% in under a week after announcing a plan to raise $250 million to acquire Ether (ETH), a strategy that attracted institutional investors like Founders Fund and Pantera. The report cautions traders by highlighting the cautionary tale of Sharplink Gaming (SBET), a similar ETH treasury play that collapsed over 90% after an initial 4,000% spike. While this speculative rally unfolds, the broader market is seeing continued institutional adoption, with JPMorgan filing for a crypto platform and MicroStrategy purchasing another 10,100 BTC. Analysts cited in the report, like Valentin Fournier from BRN, suggest a structural shift where institutions are dominating demand and that Bitcoin (BTC) is expected to lead gains, making the risk/reward asymmetry favorable for staying invested despite a temporary pause in market momentum.

According to @rovercrc, SharpLink Gaming (SBET), a publicly traded company, has solidified its pivot to a crypto treasury strategy by becoming the largest public holder of Ethereum (ETH), accumulating a total of 188,478 ETH. The company recently added 12,207 ETH for approximately $30.7 million, following an earlier acquisition of 176,271 ETH for nearly $463 million. These purchases were funded through a $1 billion at-the-market (ATM) stock offering and a $450 million private placement round involving investors like ConsenSys, Galaxy, and Pantera Capital. Despite this aggressive accumulation and having Ethereum co-founder Joseph Lubin as board chairman, SBET's stock price has experienced extreme volatility, plummeting 66% after the major acquisition announcement. The company has also staked its entire ETH holdings, already earning 120 ETH in rewards, signaling a long-term commitment to its Ethereum strategy.

According to @EmberCN, publicly traded firm SharpLink Gaming (SBET) has acquired 176,271 Ether (ETH) for approximately $463 million, making it the largest public company holder of ETH. This purchase was partially funded by a $79 million draw from its stock facility. The announcement followed a significant drop in its stock price, which remains down 66% after a regulatory filing prompted a sell-off. This move is part of SharpLink's broader pivot to a crypto treasury strategy, which was initiated after a $450 million private funding round from investors including ConsenSys and Pantera Capital. In other market news, Shiba Inu (SHIB) experienced significant whale activity, with large holders purchasing 10.4 trillion SHIB tokens worth over $110 million. This accumulation, the largest in five months, occurred after SHIB's price dropped to a 16-month low and contributed to a subsequent 17% price bounce. From a technical perspective, SHIB's price action has formed a descending triangle pattern, characterized by a falling trendline and horizontal support. A breakout above the trendline could signal a continuation of the recovery rally toward the $0.00001230 resistance level, while a breakdown below the triangle's support would indicate a potential bearish reversal.

According to @EricBalchunas, public firm SharpLink Gaming (SBET) has acquired 176,271 ether (ETH) for approximately $463 million, making it the largest publicly traded holder of ETH. This move comes despite its stock price falling sharply after a regulatory filing, though shares remain up roughly 500% since the company pivoted to a crypto treasury strategy. In other major developments, Polygon (MATIC) co-founder Sandeep Nailwal has become CEO of the Polygon Foundation, initiating a strategic overhaul focused on the AggLayer cross-chain liquidity protocol and retiring the zkEVM network. Additionally, the developers of Bitcoin Core confirmed the upcoming version 30 release will significantly increase the OP_RETURN data limit from 80 bytes to nearly 4MB, a change that could impact network usage. The Ethereum Foundation also introduced a new treasury policy, capping annual operational expenses at 15% to ensure long-term sustainability.

According to Lookonchain, SharpLink (@SharpLinkGaming) invested $462.95 million to acquire 176,271 ETH at an average price of $2,626 per ETH. This substantial purchase signals growing institutional confidence in Ethereum and could influence ETH price volatility and liquidity in the short term. Traders should monitor ETH price reactions and potential follow-on institutional interest, as large-scale acquisitions like this often drive increased trading volumes and impact price support levels. Source: Lookonchain via Twitter, June 13, 2025.

According to Lookonchain, SharpLink (@SharpLinkGaming) has acquired 176,271 ETH for a total investment of $462.95 million, with an average purchase price of $2,626 per ETH (source: Lookonchain, June 13, 2025). This large-scale accumulation signals strong institutional interest in Ethereum and is likely to impact short-term ETH price volatility and liquidity. Traders should monitor on-chain data for potential price support zones around the $2,626 level, as well as possible market reactions to further whale activity.