Ethereum News Today: SharpLink Boosts Ethereum Holdings by 7% as Mutuum Finance Presale Surges 250%

SharpLink Gaming has made a notable acquisition in the cryptocurrency market by purchasing 30,755 Ethereum (ETH) tokens for $108.57 million, averaging $3,530 per token [1]. The purchase, made over two days using USDC, significantly increases the firm’s Ethereum holdings to 480,031 ETH, valued at $1.65 billion. With this move, SharpLink ranks among the largest corporate holders of Ethereum globally, contributing to a total of 2.74 million ETH held by institutions, worth $9.71 billion [1].

The acquisition reflects SharpLink’s strategic focus on Ethereum, mirroring traditional Bitcoin treasury strategies but with a clear emphasis on Ethereum’s long-term potential [1]. In late July, the company appointed Joseph Chalom, a former executive from BlackRock’s digital assets division, as Co-CEO, signaling a strategic shift towards deeper institutional knowledge in crypto asset management [1]. This leadership change is seen as a critical step in guiding the company’s investment approach.

At the same time, the Ethereum-based altcoin project Mutuum Finance (MUTM) is gaining attention during its ongoing presale. Phase 6 is currently underway and selling out quickly, with over $14.1 million raised and more than 665 million MUTM tokens sold. With 14,800 holders, the token price in this phase stands at $0.035, a 250% increase from its initial offering price of $0.01 [1]. Investors who purchase now are guaranteed a minimum 71% return on investment when the token officially launches at $0.06 [1].

Security remains a top priority for Mutuum Finance. The project recently completed a CertiK smart contract audit, which awarded it a 95.00 security score, with no vulnerabilities identified [1]. To further strengthen its security, the project has launched a Bug Bounty Program with a $50,000 USDT reward pool for ethical hackers, offering incentives based on the severity of the findings [1].

To drive community engagement, Mutuum Finance has announced its largest giveaway to date, offering $100,000 in MUTM tokens to participants who meet certain criteria, including a minimum $50 investment in the presale [1]. The project also introduced a dynamic dashboard that rewards the top 50 token holders with bonus tokens, further incentivizing long-term commitment.

Despite SharpLink’s stock (SBET) rising 35% in the past month and 112% year-to-date, some analysts caution that its valuation may not reflect its intrinsic value. They suggest that direct ETH exposure or crypto ETFs could offer clearer value propositions for investors tracking crypto prices [1]. Nonetheless, the combined momentum from SharpLink’s Ethereum purchases and the Mutuum Finance presale highlights a growing institutional and retail interest in Ethereum and emerging altcoins.

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[1] SharpLink buys 30755 ETH for $108M as new altcoin... (https://invezz.com/news/2025/08/06/sharplink-buys-30755-eth-for-108m-as-new-altcoin-gains-traction/)