Ethereum News Today: SharpLink Buys $108M in ETH as Price Dips Below $3,900

SharpLink has expanded its Ethereum (ETH) reserves by acquiring approximately 31,900 ETH, valued at around $108 million in USDC, according to blockchain analytics firm Arkham Intelligence. The transaction involved a transfer from a SharpLink-linked wallet to Galaxy Digital’s over-the-counter desk, suggesting a strategic dip-buying move as ETH trades below its recent high of $3,900 [1]. This purchase adds to SharpLink’s existing ETH treasury, which already places it as the second-largest corporate holder of the asset, with a total of over 438,000 ETH in reserves. The only entity currently holding more is BitMine, led by Tom Lee [1].

Tom Lee, a well-known digital asset strategist, has previously forecast that Ethereum could reach $15,000, citing strong fundamentals, improved legal clarity for tokenization, and increasing institutional interest. His bullish outlook aligns with the current trend among corporations to treat ETH as a strategic reserve asset—similar to Bitcoin—highlighting a shift in how institutional players are integrating digital assets into their balance sheets [1]. Other top corporate ETH holders include The Ether Machine, Ethereum Foundation, and PulseChain, with combined holdings now exceeding $10 billion [1].

SharpLink’s latest purchase echoes broader market sentiment that the current ETH price correction may represent a buying opportunity. This view has also been supported by figures such as Eric Trump, who recently urged investors to take advantage of the dip in the market [1]. The company’s continued accumulation of ETH suggests long-term confidence in the asset’s utility and growth potential, despite short-term volatility.

The move comes at a time when more institutions are exploring Ethereum’s role in their portfolios. While still early in adoption, the trend of corporate ETH accumulation mirrors similar patterns seen with Bitcoin, indicating a growing acceptance of Ethereum as a reserve asset within institutional circles. As more companies make strategic allocations, the market could see increased stability and reduced speculative volatility in the long run.

[1] Source: [SharpLink Expands Ethereum Reserves With $100M Dip Buy](https://coinmarketcap.com/community/articles/688f5e71fdeef146ee24a873/)