At the time of writing, Ether

is trading at around $2,505, up 0.56% in the past 24-hours, according to CoinDesk Research’s technical analysis model. As for the broader crypto market as gauged by the CoinDesk 20 Index (CD20), it is up 0.34% during the same period.

SharpLink Gaming, Inc. (SBET) is a pioneering online performance marketing company specializing in the sports betting and iGaming industries. Headquartered in Minneapolis, SharpLink leverages its AI-powered C4 platform to deliver personalized, data-driven marketing content that enhances customer acquisition and retention for sportsbook and casino operators. The company has expanded through strategic acquisitions and partnerships, establishing itself as a leader in the evolving sports betting ecosystem.

On July 4, 2025, SharpLink announced on X that it has become the first publicly listed company to adopt ETH as its primary treasury reserve asset. The company outlined a comprehensive treasury strategy focused on accumulating ETH, staking it, and growing ETH-per-share to create long-term shareholder value.

SharpLink emphasized that its goal is not just to hold ETH but to actively deploy it through native staking, restaking, and Ethereum-based yield strategies. The company highlighted ETH’s advantages as a corporate reserve asset: it is productive via staking rewards, composable across decentralized finance protocols, scarce, secure, and aligned with the infrastructure of the future internet. This approach represents a bold redefinition of traditional treasury management, integrating decentralized finance principles into corporate finance.

This strategic pivot began with a $425 million private placement announced on May 27, led by Consensys and other prominent crypto investors, to fund the acquisition of ETH as SharpLink’s primary treasury asset. Joseph Lubin, Ethereum co-founder and founder of Consensys, joined SharpLink’s Board of Directors as Chairman upon closing this placement, reinforcing the company’s commitment to blockchain innovation.

Since officially launching its ETH treasury strategy on June 2, SharpLink has aggressively expanded its Ethereum holdings. Between May 30 and June 12, 2025, the company acquired approximately 176,271 ETH for about $463 million at an average price of $2,626 per ETH.

Following this, from June 16 to June 20, SharpLink purchased an additional 12,207 ETH for roughly $30.7 million, funded in part by $27.7 million raised through At-The-Market (ATM) equity sales.

By June 24, SharpLink’s ETH holdings reached 188,478 ETH, with 100% of these reserves deployed in staking solutions generating staking rewards. And by July 1, the treasury expanded further to 198,478 ETH, yielding over 220 ETH in staking rewards since the strategy’s inception.

Joseph Lubin has stated that embedding Ethereum at the core of SharpLink’s capital strategy embodies technological progress and institutional trust, positioning the company to lead the evolution of digital commerce. Meanwhile, CEO Rob Phythian has noted that SharpLink’s upcoming Nasdaq closing bell ceremony on July 7, 2025, will symbolize this new chapter, showcasing how digital assets can coexist with public market discipline and corporate governance.

SharpLink’s Ethereum treasury strategy uniquely positions the company at the crossroads of sports betting, blockchain technology, and decentralized finance, offering investors regulated and transparent exposure to Ethereum’s growth potential while advancing SharpLink’s mission to innovate the multi-billion-dollar iGaming industry.

Technical Analysis Highlights

• ETH gained 2.2% from July 4 15:00 to July 5 14:00, climbing from $2,475.48 to $2,530.02.
• A sharp sell-off between 13:06 and 14:05 pushed ETH down to $2,514.85 before buyers stepped in.
• Strong support formed between $2,480 and $2,500 during the July 5 16:00 hour, with 382,821 ETH traded.
• A bullish breakout on July 4 at 22:00 lifted ETH above $2,520, with resistance confirmed near $2,530.
• ETH consolidated around $2,515 with signs of reduced volatility and an ascending recovery trendline after 13:40.
• Momentum remains neutral short-term but structurally bullish given broader uptrend since late June.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Highlights How Bancor’s Invention Revolutionized Decentralized Finance by Making a Fully Functional Decentralized Exchange a Reality

Shows That Uniswap Has Been Infringing Bancor’s Patents and Seeks Damages

Zug, Switzerland, May 20, 2025 — Bprotocol Foundation, a non-profit foundation dedicated to promoting the development and adoption of the Bancor Protocol, and LocalCoin Ltd. (“LocalCoin”), the original developer of the Bancor Protocol, today announced that they have filed a lawsuit in the United States District Court for the Southern District of New York (the “Court”) against Uniswap Labs and Uniswap Foundation (collectively, “Uniswap”) for infringing Bancor patents directed to smart contract structures and technologies that enable decentralized trading. Bprotocol Foundation and LocalCoin are seeking damages for Uniswap’s unauthorized use of their patented technology, which is the fundamental technology that underlies the constant product automated market maker (“CPAMM”) powering the Uniswap Protocol.

Invented in 2016, Bancor’s revolutionary technology was designed to replace the traditional order books and market makers of centralized exchanges using a smart contract structure that acts as an “automated market maker” for decentralized platforms. Bancor filed a patent application for the technology on January 8, 2017, and used the smart contract structure to build the Bancor Protocol, the first fully decentralized exchange powered by automated market makers.

Mark Richardson, Project Lead at Bancor, commented:

“Bancor’s patented technology is one of the most important innovations in blockchain, and we are exceptionally proud of the role it has played in revolutionizing the world of decentralized finance. By making decentralized exchanges a reality, Bancor’s invention has forever changed how cryptocurrencies are traded. Since developing this technology, Bancor’s mission has always been the same: to bring innovative inventions to DeFi that push the boundaries of what’s possible.

However, when an organization continuously uses our invention without our authorization and does so as a means of competing with us, we must take action. For the last eight years, Uniswap has been using our patented technology in its projects without our permission. As a result, we have taken legal action to defend our technology for the good of the entire DeFi community.

As innovators and inventors, protecting our intellectual property is fundamental to the health of the ecosystem. If companies like Uniswap can act unchecked without consequence, we fear it will hinder innovation across the industry to the detriment of all DeFi players.”

Key Facts:

• In 2016, Bancor invented the smart contract structures that enable buyers and sellers to transact in a liquid and reliable manner without the need for a centralized intermediary.
• On January 8, 2017, Bancor filed a provisional patent application describing its innovative technology and associated smart contract structures employing such technology. The application was filed with the U.S. Patent Office and subsequently led to two issued patents.
• Bprotocol Foundation and LocalCoin own all rights related to the invention, and Bancor released a white paper explaining the invention in February 2017.
• The Bancor Protocol was built using the invention and launched on June 12, 2017. It was the first fully decentralized exchange (DEX) powered by automated market makers, specifically the first implementation that has come to be known as CPAMM.
• Uniswap Labs later used the patented invention to create its own competing protocol — the Uniswap Protocol.
• In November 2018, Uniswap Labs launched v1 of the Uniswap Protocol and has continually operated an infringing CPAMM via the Uniswap Interface since that time, most recently announcing the launch of v4 of the Uniswap Protocol.
• Uniswap Labs has used the patented invention without authorization, license or partnership from Bprotocol Foundation or LocalCoin, and has profited greatly.
• With this lawsuit, Bprotocol Foundation and LocalCoin seek compensation for Uniswap Labs’ unlicensed use of Bancor’s patented technology and Uniswap Foundation’s inducement of infringement.

About Bancor

Bancor has always been at the forefront of DeFi innovation, beginning in 2017 with the invention of bonding curves, pool tokens, and the exchange systems which emerge therefrom. Bancor revolutionized the world of DeFi by launching the Bancor Protocol, the first fully decentralized exchange powered by automated market makers. Learn more at bancor.network.

About Bprotocol Foundation

Bprotocol Foundation is a non-profit organization dedicated to promoting the development and adoption of the Bancor Protocol. Founded in 2017, the foundation has a mandate to safeguard the Bancor community and its interests.

About LocalCoin

LocalCoin is a digital asset laboratory and software development company building innovative products ranging from blockchain infrastructure to fully integrated consumer applications. It is the original developer of the Bancor Protocol.

Media Contacts

Longacre Square Partners
Greg Marose / Kate Sylvester, 646–386–0091
bprotocol@longacresquare.com

Home Depot (HD -0.71%) is a retailer that needs no introduction. The company has over 2,300 stores across North America — making it a well-known one-stop-shop for do-it-yourself tasks, professional contractors, and a services segment that can help customers with their home improvement projects.

Home Depot’s expansion has corresponded with a strong stock performance. Its market capitalization has jumped from around $50 billion 15 years ago to over $380 billion today. As an industry leader and a component of both the S&P 500 (SNPINDEX: ^GSPC) and Dow Jones Industrial Average (DJINDICES: ^DJI), Home Depot is about as blue chip as it gets.

Here’s why Home Depot remains a foundational dividend stock that passive income investors can build their portfolio around for 2025 and beyond.

Image source: Getty Images.

Home Depot is holding firm despite challenges

Home Depot’s updated guidance from November (when it reported third-quarter fiscal 2024 results) calls for a 2.5% comparable stores decline for the full fiscal year and diluted earnings per share (EPS) to fall by 1% when adjusted for the company’s 53-week fiscal year. So overall, weak results. Especially when factoring in relatively easy comps.

In fiscal 2023, Home Depot’s comparable sales fell 3.5% while diluted EPS fell 9.5%. Suffice to say, Home Depot is undoubtedly in a multiyear downturn, which is evident when looking at its stagnating sales growth and falling operating margins in recent years.

HD Revenue (TTM) data by YCharts

Despite the poor results, Home Depot stock hasn’t seen significant declines. It’s up around 11% over the last three years and 57% over the last five years. That said, it is underperforming the S&P 500.

Given the negative comparable sales growth, the stock has been resilient, likely because the market cares more about where a company is going than where it is today. Home Depot’s long-term investment thesis hasn’t changed. It’s just that the current macroeconomic backdrop is a major headwind for Home Depot.

Macro woes

High interest rates make it more expensive to finance home improvement projects. Elevated mortgage interest rates dissuade home purchases, which can lead to lower home sales. The Case-Shiller Home Price Index, which measures residential real estate prices in the U.S., is at a 10-year high. Mortgage interest rates are near a 10-year high. And U.S. credit card debt is over $1.2 trillion — a near 50% increase from pre-pandemic levels.

US Credit Card Debt data by YCharts

Meanwhile, U.S. existing home sales are near a 10-year low and down around 20% from pre-pandemic levels — suggesting fewer homes are being sold. And the U.S. fixed housing affordability index is around 100, which means that only a median household income with a 20% down payment can afford a home. Essentially, buyers looking to make a lower down payment or those with a below-median income are somewhat priced out of the market.

US Existing Home Sales data by YCharts

In a perfect world, Home Depot would prefer everyone to have a home and be able to afford home improvement projects. So a strained housing market shows just how difficult the current operating environment is. But there are always two sides to a coin.

The glass-half-empty outlook on Home Depot is that the macro backdrop is bad and shows no signs of improvement. So, near-term growth could remain stalled in the foreseeable future.

The glass-half-full perspective is that Home Depot’s results are barely going down despite so many challenges — a testament to the strength of its brand.

In other words, 2023 and 2024 have acted as a stress test on Home Depot, and the company has passed with flying colors.

Committed to dividend growth

When it comes to sizable dividend raises over the last 15 years, few companies can compete with Home Depot. The company has raised its quarterly dividend from $0.25 per share in 2011 to $2.25 per share in 2024 — with consistent raises every year during that period.

Investors have been able to count on raises like clockwork. Since 2013, Home Depot has announced a dividend raise in February or March (around the same time it reports full-year fiscal earnings). So, investors can expect another raise from Home Depot when it reports earnings on Feb. 25.

Home Depot’s consistent and significant dividend raises and dividend yield of 2.3% make it a solid choice for passive income investors.

Home Depot is cheaper than it looks at first glance

In addition to its strong dividend, Home Depot sports a reasonable valuation. Its price-to-earnings (P/E) ratio is 26.2 and its forward P/E is 24.5 compared to a 22.9 median P/E over the last 10 years. Although Home Depot looks a little overvalued at first glance, it’s important to recognize that the home improvement industry is currently in a slowdown. So, Home Depot’s stock price has been outpacing its earnings growth in recent years.

Home Depot could be a coiled spring for economic growth. The company completed its acquisition of SRS Distribution for $18.25 billion in June 2024. The acquisition gives Home Depot extra exposure to the contractor market, helping diversify the overall business. The full potential of the acquisition has yet to be realized because of the slowdown in the industry.

The ability to make a countercyclical move of this size is a testament to the strength of Home Depot’s balance sheet, management’s focus on long-term strategy rather than short-term results, and Home Depot’s willingness to make a big-time acquisition, even if it takes a while to pay off.

All told, Home Depot looks a little pricey now. But the stock could start to look really cheap during the next expansion period, especially considering the added boost from SRS.

A solid blue chip stock to buy now

Companies that operate in cyclical industries tend to see big ebbs and flows in their sales and earnings. But not Home Depot. Zoom out, and the company’s performance is like a steady climb higher and then a flat line rather than a big downturn.

With fiscal 2025 marking the first full year post-integration of SRS, we could see a slight uptick in sales and earnings, even if interest rates remain high.

Home Depot is an excellent dividend stock to buy if you have a long-term time horizon. The growing dividend provides a worthwhile incentive to hold the stock through slowdowns. And the valuation is reasonable given the factors discussed. However, expect Home Depot’s near-term results to be under pressure until the macro climate improves.