Ethereum is undergoing a bullish expansion, pushing above the $2,650 level and holding support above $2,600—a move that reinforces investor confidence across the broader crypto market. As ETH shows signs of sustained strength, institutional interest is ramping up. On Thursday, SharpLink Gaming (Nasdaq: SBET) made headlines by deepening its commitment to Ethereum. In a prospectus supplement filed with the US Securities and Exchange Commission (SEC), the company revealed it has raised the ceiling on the amount of common stock it can sell from $1 billion to $5 billion.
This strategic move is part of SharpLink’s treasury plan centered on accumulating ETH, making it one of the first Nasdaq-listed companies to adopt such a bold Ethereum-focused financial strategy publicly. The news arrives as ETH continues to lead altcoins in recovery, outperforming major peers with growing volume and strong technical momentum.
These proceeds are being directed to Ethereum purchases as part of SharpLink’s crypto treasury strategy. As of today, the company holds 280,706 ETH—valued at approximately $1 billion—on its balance sheet.
This bold allocation not only positions SharpLink as a pioneer in corporate Ethereum adoption but also places significant upward pressure on ETH’s long-term scarcity. At current issuance rates, it would take the Ethereum network approximately 2.5 years to produce 1,436,000 ETH—the equivalent volume SharpLink could accumulate if the full $6 billion were converted into ETH at today’s prices.
This aggressive strategy signals growing confidence in Ethereum’s role as a long-term store of value and infrastructure for Web3. It could also mark a turning point in corporate crypto accumulation beyond Bitcoin.
Ethereum (ETH) is showcasing a powerful bullish structure on the daily chart, surging to $3,606.38 with a 3.64% gain on the day. After breaking through the long-standing resistance around $2,850, ETH confirmed the breakout with strong volume, suggesting conviction behind the move. Price is now significantly above the 50, 100, and 200-day simple moving averages—currently at $2,640, $2,359, and $2,475, respectively, indicating a full bullish trend alignment across timeframes.
The chart shows a clear breakout from a consolidation phase that lasted for several weeks. Once ETH reclaimed $2,850 and flipped it into support, momentum accelerated. Since then, ETH has printed several large-bodied candles with minimal wicks, a sign of aggressive buying.
Volume has surged in recent days, reinforcing the strength of this rally. The current price action suggests a market driven by institutional participation, likely influenced by macro developments like ETF inflows and regulatory clarity in the US.
Featured image from Dall-E, chart from TradingView
