Ethereum Foundation Sells 10,000 ETH to SharpLink Gaming

2 mins mins

Key Points:

Ethereum Foundation sold 10,000 ETH to SharpLink for $25.7M.
ETH price increased 7.9% post-sale.
SharpLink plans to stake purchased ETH for ecosystem support.

Ethereum Foundation sold 10,000 ETH to SharpLink Gaming Inc. on July 10, in a move to bolster core operations.

This sale of ETH for $25.7 million marks SharpLink as a major Ethereum stakeholder, influencing investor sentiment and market dynamics.

Ethereum Foundation’s $25.7M ETH Sale Fuels Market Surge

Ethereum Foundation announced the sale of 10,000 ETH to SharpLink Gaming for $25,723,680. The foundation indicated the proceeds would fund “core operations and activities,” reinforcing their ongoing commitment to Ethereum’s infrastructure and development support.

SharpLink’s acquisition signals a strategic commitment to Ethereum’s long-term health. Joseph Lubin, Chairman of SharpLink, Co-Founder of Ethereum, and Founder and CEO of Consensys, stated, “At a time when Ethereum is entering a new era of institutional relevance, we are proud to support the network’s long-term strength and decentralization mission.” This reflects a strategic move that impacts ETH’s circulating supply positively.

Investor reactions led to a 7.9% increase in ETH’s price within 24 hours following the announcement, igniting trading volume spikes and positive market sentiment. SharpLink’s stock also saw a 14% increase, reflecting widespread enthusiasm among stakeholders.

SharpLink Becomes Major Player with Strategic ETH Stake

Did you know? SharpLink Gaming’s ETH purchase is among the largest in recent times, positioning them as a key institutional player within the Ethereum ecosystem alongside tech pioneers embracing crypto assets for strategic treasury management.

As per CoinMarketCap, Ethereum’s current price is $2,958.04, with a market cap of 357,082,149,451. It dominates 9.74% of the crypto market. Its 24-hour trading volume stands at 36,240,183,775, an increase of 6.78%. In the last 90 days, ETH appreciated 79.89%, reflecting robust market interest.

ethereum-daily-chart-668 — Ethereum(ETH), daily chart, screenshot on CoinMarketCap at 00:00 UTC on July 12, 2025. *Source: CoinMarketCap*

Coincu research highlights the strategic implications of this transaction, emphasizing the potential for increased ETH network staking, which may improve network security and reduce token volatility. This action aligns with broader trends favoring decentralized finance investments.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.