Ethereum Maintains Strength Above $2,500 as SharpLink Gaming Deepens Commitment to ETH Strategy

Ethereum remains firmly positioned above the $2,500 mark, bolstered by SharpLink Gaming’s growing focus on using ETH as a key asset in its corporate treasury—a move that highlights Ethereum’s evolving role as a backbone for global financial systems.

At the moment, ETH is trading close to $2,505, representing an increase of about 0.56% over the past day, according to CoinDesk Research’s technical analysis. Meanwhile, the wider cryptocurrency market, reflected by the CoinDesk 20 Index (CD20), is up 0.34% over the same period.

SharpLink Gaming, Inc. (NASDAQ: SBET), a Minnesota-based digital marketing company specializing in sports betting and iGaming, has attracted significant attention for its aggressive pivot into Ethereum. The company’s proprietary C4 platform, powered by AI, helps sportsbooks and online casinos improve customer acquisition and retention through personalized, data-driven marketing campaigns. Strategic acquisitions and partnerships have positioned SharpLink as a notable player in the rapidly growing sports betting market.

On July 4, SharpLink announced via X (formerly Twitter) that it had become the first publicly traded business to officially adopt ETH as its primary treasury reserve asset. The company detailed a thorough plan to accumulate and stake ETH, with the goal of increasing ETH-per-share and maximizing long-term shareholder value.

Unlike traditional treasury strategies, SharpLink isn’t merely holding ETH in reserve. The company intends to actively deploy its holdings into staking, restaking, and various decentralized finance (DeFi) opportunities across the Ethereum ecosystem. The firm highlighted ETH’s strengths as a treasury asset, including its capacity to generate staking income, integrate with DeFi applications, and offer scarcity and security—all aligning with the future of internet infrastructure. This approach signals a major departure from conventional corporate treasury management by integrating decentralized finance principles.

SharpLink’s transition began on May 27, when the company announced a $425 million private placement led by Consensys and other leading crypto investors, specifically intended for purchasing ETH to anchor the firm’s treasury reserves. Following the deal, Ethereum co-founder and Consensys founder Joseph Lubin joined SharpLink’s Board of Directors as Chairman, underlining SharpLink’s commitment to blockchain innovation.

Since launching its ETH-centric treasury strategy on June 2, SharpLink has rapidly increased its ETH holdings. From May 30 to June 12, the company acquired about 176,271 ETH worth roughly $463 million, with an average purchase price of $2,626 per ETH.

Between June 16 and June 20, SharpLink bought an additional 12,207 ETH for around $30.7 million, partly funded through $27.7 million raised via At-The-Market (ATM) equity offerings.

By June 24, SharpLink’s ETH reserves totaled 188,478 ETH, all of which was deployed into staking protocols to earn yield. As of July 1, the firm’s holdings had grown to 198,478 ETH, generating over 220 ETH in staking rewards since implementing this new strategy.

Joseph Lubin has emphasized that making Ethereum the foundation of SharpLink’s financial strategy represents both technological progress and growing institutional confidence in blockchain technology. He believes this positions SharpLink as a leader in the evolving digital economy. Meanwhile, CEO Rob Phythian has stated that SharpLink’s upcoming Nasdaq closing bell ceremony on July 7, 2025, will serve as a symbol of this significant strategic shift, showcasing how digital assets can coexist with the regulatory standards of public markets and corporate governance.

SharpLink’s decisive pivot into ETH places it at the intersection of sports betting, blockchain, and decentralized finance, offering investors regulated exposure to Ethereum while driving forward its mission to reshape the iGaming landscape.

Technical Analysis Highlights

• From July 4 at 15:00 to July 5 at 14:00, ETH rose 2.2%, moving from $2,475.48 to $2,530.02.
• A sharp selloff between 13:06 and 14:05 pulled ETH down to $2,514.85 before buying interest returned.
• Strong support formed around $2,480–$2,500 on July 5 around 16:00, when 382,821 ETH traded hands.
• A bullish move on July 4 at 22:00 pushed ETH above $2,520, encountering resistance near $2,530.
• ETH consolidated near $2,515, showing decreased volatility and creating an ascending recovery trendline after 13:40.
• Momentum remains neutral in the short term, but the broader outlook stays bullish, maintaining the uptrend that began in late June.