SharpLink Gaming has announced a $200 million capital raise aimed at expanding its Ethereum treasury. As ETH solidifies its role as programmable money and a yield-bearing asset through staking, SharpLink is betting big on its long-term potential. The raise positions the company among a rising class of corporates reshaping capital strategy around blockchain-native assets. Why SharpLink Is Going All-In On Ethereum In an X post, SharpLink Gaming shared an update stating that the company has secured $200 million capital raise through a direct offering priced at $19.50 per share, and has been backed by four global institutional investors. Related Reading: SharpLink Buys the Dip and Adds $100M-Worth of $ETH to its Treasury as $BEST Stands to Gain According to the company, the capital will be strategically deployed to expand its ETH treasury holdings. Upon full deployment, SharpLink expects its ETH reserves to exceed $2 billion, placing it among the most ETH-heavy corporate treasuries globally. The company focuses on accumulating ETH, staking ETH to earn sustainable on-chain yield, and consistently growing ETH-per-share for long-term shareholders. Ethereum is becoming the foundational layer of global finance infrastructure for tokenized assets, and SharpLink is built to capture that upside. According to the DuRtY_Crypto post, Vitalik Buterin recently pointed out that ETH treasuries are increasingly valuable, not just as a store of ETH, but as a different vehicle for people to have access to ETH. Instead of simply buying ETH and holding it, investors are turning to companies that hold and manage ETH treasuries. DuRtY_Crypto has outlined the irony that was unseen between the Bankless crew, who quickly celebrated the mainstream validation. The PulseChain Sacrifice Wallet has skyrocketed to become the 5th-largest ETH holder in crypto with 171,054 ETH. Before the funds rotated into ETH, the wallet was already commanding attention as the largest DAI holder across all chains. Thus, the expert has commended Richard Heart, the controversial figure behind PulseChain, for executing a strategic pivot that few saw coming. Ethereum Activity Heats Up As Transaction Volume Nears ATH While prominent figures are raising capital and increasing the ETH treasury’s value, CoinW has also revealed that Ethereum on-chain momentum is surging again. According to data from Etherscan, the network processed 1.87 million transactions on Aug 6th, nearing its all-time high of 1.96 million, which was set back in January 2024. Related Reading: Ethereum Bears Dominate Market Orders: -$418.8M Daily Net Taker Volume Signals Trouble Meanwhile, the validator queue data shows the ETH pOs exit queue has dropped significantly to 443,164 ETH, worth roughly $1.612 billion. Following the decline, the average exit wait time now sits at 7 days and 17 hours. With UK regulators officially lifting the ban on crypto exchange-traded notes (cETNs) for retail investors, as reported by CoinW, Ethereum’s performance may experience notable growth. This move signals a major policy shift toward embracing digital asset markets. Furthermore, it will allow individuals to engage in these risk-bearing financial products at their discretion, a move seen as aligning the UK more closely with the global crypto market. Featured image from Getty Images, chart from Tradingview.com
S&P Global gave Sky Protocol a 'B-' credit rating, based on risks involved with high depositor concentration and centralized governance.
Cobie's Echo has launched Sonar, a new ICO platform, with Plasma as its first project, which is offering 10% of its XPL token supply.
JPMorgan analysts say expectations that the stablecoin market could triple or quadruple in the near future are "far too optimistic."
The top five yield-bearing stablecoins, including Ethena's USDe, have seen rapid growth since the U.S. election, JPMorgan analysts said.
The move, set to take effect on March 31, will impact nine stablecoins, including Tether (USDT), First Digital USD (FDUSD) and Dai (DAI).
Stablecoins could emerge as one of the most efficient means of payment in a global economy as legacy payment systems struggle to keep pace with AI agents, blockchain technologies and the Internet of Things (IoT), according to Sky Protocol co-founder Rune Christensen.
The stablecoin is also more widely distributed across blockchain networks.
The CeDeFi stablecoin has attracted billions of inflows due to double-digit staking yields.
Coinbase said it will assess reenabling services for stablecoins that achieve MiCA compliance at a later date.
Ethereum reclaimed the top position against Tron on Nov. 21, and the gap has only widened since.
A “decentralized governance” body could decide the fate of frozen USDS if the stablecoin goes ahead with a freeze feature, says Sky co-founder Rune Christensen.
The plan would create markets for DAI-replacement USDS on Aave.
MakerDAO co-founder Rune Christensen said the feature won't be live when the USDS token goes live and the old DAI token will remain in circulation unchanged.
The cross-chain bridge was exploited for $82 million over New Year’s Eve, with the funds sitting dormant since Jan. 1.
The unabated expansion of stablecoin supply shows capital continues to flow into the crypto market, one observer noted.