Sharplink adds another 5 billion US dollars to its ETH reserves. Is ETH aiming for 5,000 US dollars? | Bee Network
Before May 27 this year, many people might not be familiar with Sharplink. Although the company, which mainly engages in American sports lottery and sports lottery marketing, began exploring the application of blockchain technology in gambling as early as 2024, and acquired a 10% stake in British company Armchair Enterprises Limited, the operator of CryptoCasino.com, for $500,000 in cash in February this year. In addition to exploring blockchain business, Sharplinks previous partners include well-known sports brands and leagues such as NBA, NHL, and Turner Sports. The reason why it has not attracted the attention of traditional financial markets and 加密currency markets before is because its business performance is too poor . Although the company is a US-listed company, its market value was only about $2 million, and its share price was about $2.9. According to its financial report information, Sharplinks revenue in 2024 was only $3.6623 million, a year-on-year decrease of 26.1% (US$4.9527 million in 2023); operating expenses decreased significantly by 45.6%, from $10.4259 million in 2023 to $5.6692 million, but net income was only $10.1 million (earnings per share of $2.29), compared with a net loss of $14.2432 million (loss per share of $5.19) in 2023, which was mainly due to the proceeds from the divestiture of non-core businesses (Sports Gaming Client Services and SHGN, sold for $22.5 million in cash in January 2024 ) ($14.5733 million). As of December 31, 2024, the companys cash balance was only US$1.4367 million, a year-on-year decrease of 42.2%. Due to its poor operating conditions, Sharplink had to find other ways out in order to maintain its stock price at no less than the minimum standard of $1 required by Nasdaq; moreover, it did not meet Nasdaqs basic requirement of shareholders equity of at least $2.5 million. Under internal and external difficulties, Sharplink CEO Rob Phythian and Consensys CEO and Ethereum co-founder Joseph Lubin hit it off. As a result, Sharplink has transformed from a struggling gambling marketing company to the current ETH version of Strategy. The Miracle of Crypto Stocks’ Skyrocketing: From Less Than $3 to Over $100
On May 27, SharpLink Gaming, Inc. (NASDAQ: SBET) announced the signing of a securities purchase agreement for a $425 million private placement investment, planning to issue approximately 69.1 million shares of common stock (or equivalent securities) at a price of $6.15 per share (or $6.72 per share for members of the companys management team). Consensys Software Inc. led the investment as the main investor, and participating parties included well-known crypto venture capital institutions such as ParaFi Capital, Electric Capital, Pantera Capital, and Galaxy Digital. As the news came out, Sharplinks stock price soared from less than $3 to over $100 at one point, before falling back to $35.83 after hours and closing at $79.21 on May 29. In early June, SharpLink Gaming 正式公布 the completion of a $425 million private placement, led by Consensys. The company plans to use the proceeds to purchase ETH as its main treasury reserve asset, and Joseph Lubin, CEO of Consensys and co-founder of Ethereum, will join its board of directors and serve as chairman. In addition, it should be noted that, apart from the 69.1 million common shares issued by Sharplink, only 2 million shares were available for circulation in the market, and the remaining shares were subject to the registration rights agreement and were expected to be traded in a few months, which also provided a certain buffer period for Sharplink to maintain its listing qualifications and manage its market value. Since then, Sharplink has started the crazy ETH buying, buying, buying phase, and the price of ETH has also started to rise.
Sharplink Stock Price Trend
ETH price candlestick
In less than two months, Sharplink purchased a large number of ETH through various channels such as OTC and crypto exchanges. As of July 16, the company has purchased more than 300,000 ETH at an average price of approximately US$2,701, with a floating profit of US$130.9 million. In the past two days, Sharplink has been making frequent purchases. The most recent increase took place this morning. It first added 18,712 ETH (worth approximately US$65.45 million) to its Ethereum strategy reserve; then it increased its holdings by another 14,180 ETH (worth approximately US$50.1 million). Today, it has purchased a total of 32,892 ETH (worth approximately US$115 million). In addition, according to the ETH reserve website , when Sharplink held 280,000 ETH, its floating profit had grown to about $286 million; currently, its ETH holdings have reached a terrifying 340,000, worth nearly $1.2 billion. And this is just the beginning.ETH Reserve Website Top 10 Information
Sharplink plans to raise an additional $5 billion to increase its ETH holdingsThe latest news shows that Sharplink has submitted an updated prospectus to the U.S. Securities and 交流 Commission (SEC), planning to issue an additional $5 billion in common stock on top of the original $1 billion to further purchase Ethereum (ETH) for the companys treasury. 市场 analysts believe that Sharplinks potential $5 billion purchase is expected to boost ETH prices to at least over $5,000. On the other hand, Sharplinks market value has soared from about $2 million to about $3.6 billion now. Despite a nearly 35-fold increase in stock issuance, its market value has soared by about 1,800 times, making it a fighter among U.S. stocks. The latest data shows that its after-hours stock price is currently $37.41, with a 24-hour increase of about 2.77%. 相比之下, the share price of Strategy , which launched the BTC Strategic Reserve Plan for Listed Companies, has risen from US$300 at the beginning of the year to the current after-hours price of US$458, with an annual increase of 55.84%. Its market value is temporarily reported at US$126.8 billion; while the share price of Sharplink (SBET) has risen from around US$8 at the beginning of the year to around US$36 now, with an annual increase of approximately 374%.
Compared with the huge Strategy, Sharplink, which occupies the ETH version of Strategy ecological niche, is expected to replicate its stock price miracle and double its price again. This article is sourced from the internet: Sharplink adds another 5 billion US dollars to its ETH reserves. Is ETH aiming for 5,000 US dollars? Related: To make ETH break through the 10,000 mark, Ethereum needs a new growth narrative Original author: David Hoffman Original translation: TechFlow Ethereum is winning, ETH investors are still not winning You may have noticed that I have become more dovish on ETH recently. ETH’s decline in relative valuation has led to a loss of investor confidence, which is key when ETH aspires to become the internet’s currency. The reasons for ETH’s underperformance have been a point of debate for years. Many of the issues plaguing ETH’s relative valuation are beyond its control — Gary Gensler, Michael Saylor, and others have contributed to this. (Gensler has left, and ETH Fund Management has finally been established; some external issues will resolve themselves.) Today, I want to focus on the challenges that are firmly in the hands of the Ethereum community, as many of the reasons why… #分析# 加密# 以太坊# 交易所# 市场© 版权声明文章版权归作者所有,未经允许请勿转载。 上一篇 From street equipment to RWA: ShareX builds a global on-chain micro-asset network, connecting sharing economy brands in 下一篇 Which crypto VCs are behind the crypto reserve strategies of listed companies? 相关文章 After Meme, AI Agent takes over? Check out 8 popular AI Agents on BNB Chain 6086cf14eb90bc67ca4fc62b 874,667 350 Behind Coinbase’s Echo acquisition: Cobie’s 13-year journey from $200 to fame and fortune 6086cf14eb90bc67ca4fc62b 17,560 Microsoft’s “Pool Conundrum”: $625 Billion Slowly Injected, $37.5 Billion Opened This Quarter, Will the Water Level Rise 6086cf14eb90bc67ca4fc62b 7,576 How does the ERC-8004, the best partner for x402, solve the trust problem of AI agents? 6086cf14eb90bc67ca4fc62b 16,065 Tiger Research: 2025, A Year of Narrative Frenzy 6086cf14eb90bc67ca4fc62b 11,771 1 Solana has recently strengthened, but who holds the funds? 6086cf14eb90bc67ca4fc62b 23,559 2 1 条评论 您必须登录后才能发表评论! 立即登录 总管 客人 好好干 5 个月前 最新文章 Did Jane Street “Manipulate” BTC? Decoding the AP System, Understanding the Power Struggle Behind ETF Creation and Redemption Pricing 8小时前 335 Stop Comparing Bitcoin to Gold—It’s Now a High-Volatility Software Stock 8小时前 459 Matrixport Research: $25 Billion Gamma Unwinding Imminent, Liquidity Yet to Return Behind the Rebound 8小时前 421 ERC-5564: Ethereum’s Stealth Era Has Arrived, Receiving Addresses No Longer ‘Exposed’ 8小时前 358 Hong Kong Regulatory Green Light: Asseto Enables DL Holdings to Achieve Compliance for Two RWA Business Implementations 8小时前 391 热门网站TempoLighterGAIB滑翔机普朗克雷尔斯BCPokerVooi Bee.com 全球最大的 Web3 门户网站 合作伙伴 硬币卡 Binance CoinMarketCap CoinGecko Coinlive 装甲 下载蜜蜂网络APP,开始web3之旅 白皮书 角色 常见问题 © 2021-2026.保留所有权利。. 隐私政策 | 服务条款 下载蜜蜂网络 APP 并开始 web3 之旅 全球最大的 Web3 门户网站 合作伙伴 CoinCarp Binance CoinMarketCap CoinGecko Coinlive Armors 白皮书 角色 常见问题 © 2021-2026.保留所有权利。. 隐私政策 | 服务条款 搜索 搜索InSite链上社会新闻 热门推荐: 空投猎人 数据分析 加密货币名人 陷阱探测器 简体中文 English 繁體中文 日本語 Tiếng Việt العربية 한국어 Bahasa Indonesia हिन्दी اردو Русский 简体中文
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