SharpLink Gaming’s SBET Surges 4.92% Despite 328th Trading Volume Rank as Ethereum Staking Doubts Loom

On September 8, 2025, , . The stock ranked 328th in trading volume, . , . , .

Analysts attribute the stock’s underperformance to dilutive equity financing strategies. SharpLink has raised capital to purchase ETH by issuing new shares, which reduces the value of existing holdings. of RockawayX highlighted that such practices deter long-term investors, as the focus remains on short-term trading dynamics rather than sustainable yield generation. , raising concerns about smart contract risks despite Consensys’ involvement.

While SharpLink’s CEO emphasized long-term staking benefits, institutional investors remain cautious. James Harris of Tesseract noted that Linea’s lack of full yield disclosure complicates risk assessment. , led by Consensys, positioned the company to stake on Linea, but transparency gaps persist. Investors are now weighing the potential for yield differentiation against operational uncertainties in layer-2 networks.

To run this back-test accurately I need to pin down a few implementation details: 1. Market universe – e.g. U.S.-listed common stocks (NYSE + Nasdaq) or something else? 2. Trade execution – • Buy price: next-day open, same-day close, or other? • Sell price (after 1-day hold): same-day close, next-day open, etc. 3. Weighting – equal-weight across the 500 names each day, or value-weight? 4. Transaction costs/slippage – should we include any? 5. Any risk controls (stop-loss, max drawdown) or just the pure strategy? Once these points are confirmed I can set up the data retrieval plan and run the back-test.