Ethereum’s 10th anniversary has sparked a major buying frenzy with SharpLink Gaming snapping up 11,259 ETH in a latest $43 million deal.
The purchase, executed at an average price of $3,828 per ETH, boosted SharpLink’s total holdings to 449,276 ETH valued at $1.73 billion. As reported by Lookonchain, this transaction followed the recent purchase of 77,210 ETH worth $295 million on July 28.
Ethereum co-founder and SharpLink chairman Joseph Lubin marked the milestone with a powerful message on the X platform. He commended that Ethereum has been demonstrating uptime since 10 years of its service and called it the “foundation for digital trust.”
Lubin praised Ethereum’s technological advancements, including the Merge, and its ability to withstand attacks. He also emphasized the token being the stronghold of well-known brands like Visa, JPMorgan, and BlackRock.
Additionally, Lubin noted that Ethereum now settles trillions of dollars annually. He stated that more ETH locked in staking strengthens network security. This message resonated with the market’s ongoing accumulation trend, which continues to outpace Bitcoin’s corporate adoption rate.
“Ethereum now stands as the premier infrastructure for decentralized, verifiable, programmable trust,” he said, “It already settles trillions of dollars of value annually. This new kind of software, ‘Trustware,’ enables transactions, processes and agreements to be guaranteed to execute, verifiably correct, incorruptible, transparent, and accessible to all, with rules enforced by math and code.”
Institutional Demand Accelerates
Standard Chartered reported that corporate treasuries have acquired 1% of Ethereum’s total supply since early June. Consequently, this buying spree has supported Ether’s strong price performance.
The bank also predicted ETH could break above its $4,000 year-end target if inflows persist. Moreover, it expects treasury firms could eventually hold up to 10% of ETH’s total supply, driven by staking and DeFi benefits.
Ether Machine also celebrated Ethereum’s birthday with a $56.9 million ETH purchase. The company’s holdings rose to 334,757 ETH valued at over $1.2 billion. Besides, it allocated $407 million for future acquisitions. With ETH trading at $3,857.62 and up 2% in 24 hours, the market’s bullish momentum remains strong.
Also Read: Ether Machine Buys 15K ETH for $56.9M, Treasury Holdings Hit 334K
