SharpLink Gaming Surges to Top 53 Most Traded Stocks with 1673% Volume Spike and $425 Million ETH Acquisition

On May 29, 2025, SharpLink Gaming (SBET) experienced a significant surge in trading volume, reaching 11.90 billion, a 1673.67% increase from the previous day. This surge placed SharpLink among the top 53 most traded stocks for the day, with its stock price rising by 171.64%.

SharpLink recently made a substantial investment of approximately $425 million to acquire around 120,000 ETH at a price of $3,500 each. This strategic move not only reduced the market supply of Ethereum but also established a price floor, potentially stabilizing the cryptocurrency's value. The acquisition of such a large amount of ETH positions SharpLink as a significant player in the cryptocurrency market, aligning with the broader trend of companies adopting digital assets as part of their treasury strategy.

SharpLink's decision to hold ETH as its primary treasury asset follows a $425 million private placement. This investment underscores the company's commitment to integrating Ethereum into its financial strategy, mirroring the approach taken by other tech giants who have adopted Bitcoin as a reserve asset. The move is seen as a bold step towards leveraging the potential of blockchain technology and cryptocurrencies in the gaming industry.

SharpLink's strategic shift towards Ethereum has garnered attention from investors and industry experts alike. The company's decision to accumulate a substantial amount of ETH as a treasury reserve asset is seen as a significant development in the cryptocurrency space. This move not only positions SharpLink as a forward-thinking company but also highlights the growing acceptance of digital assets as a viable investment option.