Sharplink Gaming has announced a $200 million capital raise aimed at expanding the Ethereum Treasury Department. As ETH solidifies its role as a yield asset through programmable money and staking, Sharplink has placed a big bet on its long-term potential. The Rays positions the company within a rising class of companies restructuring capital strategies around blockchain-native assets.
Why Sharplink is all-in on Ethereum
In X’s post, Sharplink Gaming shared an update that it secured a capital rise of $200 million through a direct offer of $19.50 per share, backed by four global institutional investors.
The company says the capital will be deployed strategically to expand the holdings of the ETH Ministry of Finance. Once fully deployed, Sharplink expects ETH reserves to exceed $2 billion, and is located in the Treasury Department, the most ethnic corporations in the world.
The company focuses on accumulating ETH, staking ETH to acquire sustainable on-chain yields and consistently growing stocks for long-term shareholders. Ethereum is becoming the foundational layer of the global finance infrastructure of tokenized assets, and Sharplink is being built to capture its upside down.
According to a post by Durty_Crypto, Vitalik Buterin recently pointed out that ETH’s Treasury Department is increasingly valuable, not just as an ETH store, but also as another way to make people accessible to ETH. Instead of simply purchasing and holding ETH, investors are turning to companies that own and manage ETH Ministry of Finance.
Durty_crypto outlined the invisible irony among the unbanked crew who quickly celebrated mainstream verification. Pulsechain’s sacrifice wallet has become the fifth largest ETH holder in the Crypto, with 171,054 ETH. Before the funds were turned to ETH, the wallet was already attracting attention as the largest DAI owner in all chains. Therefore, experts praised Richard Heart, the controversial figure behind Pulsechain, for performing a strategic pivot that he barely saw.
Ethereum activity gets hot as transaction volume approaches ATH
While notable figures raise capital and increase the value of the ETH Treasury, the coin also revealed that the momentum of the chain over Ethereum is surged once again. According to Etherscan data, the network processed 1.87 million transactions on August 6, bringing it to a record high of 1.96 million held in January 2024.
Validator Queue Data, on the other hand, shows that the ETH POS Exit queue has dropped significantly to 443,164 ETH, worth around $1.62 billion. After the decrease, the average exit wait time will be 7 days and 17 hours.
As reported by Coinw, Ethereum’s performance could experience significant growth once UK regulators officially lift the ban on Crypto Exchange Supervision Notes (CETN) for retail investors. The move illustrates a major policy change to adopt the digital asset market. Additionally, individuals may engage in financial instruments that take these risks at their discretion.
Discover more from Earlybirds Invest
Subscribe to get the latest posts sent to your email.
