SharpLink Gaming Boosts Ethereum Holdings by 10,000 ETH Bitcoin Hits New All-Time High at $118,856

The cryptocurrency market experienced significant activity today, driven by major institutional moves, record-breaking price surges, and regulatory developments. SharpLink Gaming, a prominent gaming company, made a substantial investment by acquiring 10,000 ETH from the Ethereum Foundation. The transaction, valued at $25.7 million, was conducted over-the-counter and boosted the company's Ethereum holdings to 215,634 ETH, worth over $550 million. This move solidifies SharpLink Gaming's position as the largest publicly traded ETH holder.

Bitcoin reached a new all-time high of $118,856, driven by institutional demand and ETF inflows exceeding a billion dollars. This surge in Bitcoin's price also sparked a rally in leading altcoins, meme coins, and DeFi tokens. The Royal Government of Bhutan transferred 100.215 BTC, worth $11.83 million, to Binance, adding to the 449.3 BTC ($50.15 million) transferred over the past 11 days. Managed by Druk Holdings, Bhutan's 11,711 Bitcoin, worth approximately $1.3 billion, reflects strategic profit-taking amid Bitcoin reaching a new all-time high.

GMX decentralized exchange resolved a major hack as the attacker agreed to return stolen funds for a 10% bounty, estimated at $2.4 million of the $24 million exploit. The deal, negotiated via on-chain messages, aims to restore user funds and bolster GMX’s security reputation in DeFi. Short traders saw over $1 billion in liquidations as Bitcoin and Ethereum prices soared, with $678 million in BTC and $300 million in ETH shorts wiped out. Binance’s perpetual futures funding rate hit +0.01%, signaling heavy leveraged buying as Bitcoin crossed $118,000 today.

In summary, today's crypto market was marked by significant institutional investments, record-breaking price surges, and strategic profit-taking. The resolution of the GMX hack and the liquidation of short positions further highlight the dynamic nature of the market. These developments underscore the growing influence of major institutions and the increasing importance of security and regulatory compliance in the crypto space.