SharpLink, a prominent public corporate holder of Ethereum, has initiated a significant wallet transfer, fueling speculation of another massive Ether acquisition. The company transferred 145 million USDC from a Circle address to a Galaxy Digital wallet. Given that SharpLink has a history of acquiring ETH through Galaxy Digital, this move is widely believed to be a prelude to a new round of bulk purchases. Galaxy Digital has since been observed moving these funds to major cryptocurrency exchanges including Bybit, OKX, and Binance.
This strategic financial move coincides with a key leadership appointment: Joseph Chalom, the former virtual assets lead at BlackRock, has joined SharpLink as its Co-CEO. Chairman Joseph Lubin, a co-founder of Ethereum and founder of ConsenSys, praised the appointment, stating that few executives have had a similar impact on institutional adoption of digital assets. SharpLink's focus areas for institutional players include secure staking, scalable treasury operations, and asset tokenization.
This potential purchase follows SharpLink's recent record-breaking acquisition of 79,949 ETH last week, valued at approximately $258.9 million. This move allowed SharpLink to reclaim its title as the world's largest public holder of Ether. After a previous $49 million purchase, the company's total ETH holdings stand at 360,000 ETH, worth approximately $1.3 billion at current market prices.
The price of Ethereum has shown strong momentum, with its price increasing by 3.41% in the last 24 hours to $3,740 USD at the time of writing. This price gain is attributed to a surge in institutional activity, including increased ETF inflows and sustained whale accumulation. The recent institutional whale activity and significant purchases by companies like SharpLink are driving price volatility and tightening the supply of Ethereum on exchanges.
July 2025, Cryptoniteuae