{"id":33473,"date":"2026-06-30T15:35:38","date_gmt":"2026-06-30T15:35:38","guid":{"rendered":"https:\/\/bitunikey.com\/news\/sharplink-buys-more-ethereum-as-eth-heads-for-rare-quarterly-slump\/"},"modified":"2026-06-30T15:35:49","modified_gmt":"2026-06-30T15:35:49","slug":"sharplink-buys-more-ethereum-as-eth-heads-for-rare-quarterly-slump","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/sharplink-buys-more-ethereum-as-eth-heads-for-rare-quarterly-slump\/","title":{"rendered":"SharpLink buys more Ethereum as ETH heads for rare quarterly slump"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">SharpLink has expanded its Ethereum treasury with another 10,000 ETH purchase even as the cryptocurrency has remained on course for its third consecutive quarterly decline.<\/p>\n<div id=\"cn-block-summary-block_faeb240b23c8e48eb39d20f6f3d272ac\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>SharpLink bought another 10,000 ETH for $16.1 million, increasing its Ethereum holdings to 886,725 ETH.<\/li>\n<li>Ethereum is on track for its first-ever third consecutive quarterly loss despite continued treasury accumulation.<\/li>\n<li>Bitmine now holds more than 5.7 million ETH, adding to institutional buying as analysts watch the $1,500 support level.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>According to a company <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/news-release\/2026\/06\/30\/3319602\/0\/en\/Sharplink-Acquires-10-000-ETH-Bringing-Total-ETH-Holdings-to-886-725-Repurchases-Over-2-1-Million-Shares-of-Common-Stock.html\" target=\"_blank\" rel=\"nofollow\">press release<\/a>, SharpLink acquired the latest 10,000 ETH at an average price of $1,611 per token, spending approximately $16.1 million on the purchase.<\/p>\n<p>The transaction increases the company\u2019s total Ethereum holdings to 886,725 ETH and follows a $75 million capital raise completed through a registered stock offering.<\/p>\n<h2 class=\"wp-block-heading\">SharpLink continues building its Ethereum treasury<\/h2>\n<p>Alongside the latest crypto purchase, SharpLink stepped up its capital management efforts by repurchasing more than 2.13 million shares of its common stock, SBET, at an average price of $4.69 per share.<\/p>\n<p>The company said it has now bought back over 4.07 million shares since August 2025. Despite those moves, SBET shares were trading around $4.79 at the time of writing, down roughly 2.5% on the day.<\/p>\n<p>Recent corporate developments have also added to the company\u2019s profile. Earlier this week, SharpLink joined the Russell 2000 and Russell 3000 indexes, extending its presence in major U.S. equity benchmarks while continuing to increase its Ethereum reserves.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>SharpLink is not the only listed company expanding its exposure to Ethereum. As crypto.news reported on Monday, Ethereum treasury firm Bitmine purchased another 27,084 ETH during the past week, lifting its holdings to more than 5.7 million ETH.<\/p>\n<p>Based on the company\u2019s figures, those reserves now account for about 4.7% of Ethereum\u2019s estimated circulating supply of 120.7 million ETH, bringing Bitmine closer to its previously stated target of holding 5% of the network\u2019s supply.<\/p>\n<p>Earlier this month, crypto.news also examined the implications of treasury companies accumulating increasingly large portions of Ethereum. The report noted that sustained buying could reduce the amount of ETH available for trading, although concentrated ownership may create additional risks if companies later need to fund operations through debt, equity issuance, or asset sales during weaker market conditions.<\/p>\n<h2 class=\"wp-block-heading\">Ethereum remains under pressure despite corporate buying<\/h2>\n<p>Even as treasury companies continue adding to their holdings, Ethereum (ETH) has struggled to regain upward momentum. At the time of writing, ETH traded near $1,560, down about 1% on the day and roughly 25% for the quarter.<\/p>\n<figure class=\"wp-block-image size-full\"><figcaption class=\"wp-element-caption\">Ethereum price chart \u2014 June 30 | Source: crypto.news<\/figcaption><\/figure>\n<p>Current market performance also places Ethereum on track to record its third straight quarterly loss, a result that would be the first such streak in the asset\u2019s history if the quarter closes at current levels.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">JUST IN: Ethereum on track for its worst three-quarter period ever <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/Z8RXdqg3g2\">pic.twitter.com\/Z8RXdqg3g2<\/a><\/p>\n<p>\u2014 crypto.news (@cryptodotnews) <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/cryptodotnews\/status\/2070964382897471817?ref_src=twsrc%5Etfw\">June 27, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Some analysts nevertheless see the recent weakness as a key technical test rather than a definitive breakdown. According to crypto analyst Ted Pillows, Ethereum could stage a relief rally next month if it manages to hold support around $1,500.<\/p>\n<p>The analyst\u2019s chart also outlined the downside risk if that level fails. Under that scenario, Ted Pillows said Ethereum could fall toward $1,400 or lower, underscoring that price direction in the coming weeks may depend on whether buyers continue defending the current support zone despite ongoing accumulation by treasury firms.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> is back into its high demand zone.<\/p>\n<p>As long as the $1,500 level holds, Ethereum could have a relief rally next month. <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/aZAB5kt6Ez\">pic.twitter.com\/aZAB5kt6Ez<\/a><\/p>\n<p>\u2014 Ted (@TedPillows) <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/TedPillows\/status\/2071881929566073115?ref_src=twsrc%5Etfw\">June 30, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SharpLink has expanded its Ethereum treasury with another 10,000 ETH purchase even as the cryptocurrency has remained on course for its third consecutive quarterly decline. Summary SharpLink bought another 10,000&hellip;<\/p>\n","protected":false},"author":1,"featured_media":8150,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-33473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=33473"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33473\/revisions"}],"predecessor-version":[{"id":33474,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/33473\/revisions\/33474"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/8150"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=33473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=33473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=33473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}