As SharpLink Gaming and Metaplanet both increase their stakes in cryptocurrency assets, the price of Ethereum (ETH) is nearing the $4,000 mark. SharpLink has once again purchased over $290 million worth of ETH, while the Japanese listed company Metaplanet continues to significantly increase its holdings in Bitcoin (BTC), with both companies accelerating their efforts to capture leading positions in the cryptocurrency domain.
ETH price nears $4,000, SharpLink's increased holdings draw market attention
Ethereum has risen several percentage points in the past 24 hours, with a price of $3,831.37 as of 9:35 AM Eastern Time. The market's strong performance is closely related to SharpLink's latest acquisition.
According to the on-chain analysis agency Lookonchain, SharpLink Gaming recently purchased an additional 77,210 ETH, with the transaction amounting to approximately $295 million. This increase has brought the company's total holdings to over 438,000 ETH, with a current market value exceeding $1.68 billion.
This purchase further narrows the gap between SharpLink and the world's largest ETH corporate holder, BitMine Immersion Technologies, which currently holds Ethereum valued at over $2 billion.
In recent years, SharpLink has gradually transitioned from a gaming technology company to a focus on cryptocurrency asset management, which has become a significant driver of its stock price increase. Last week, driven by positive news about cryptocurrency assets, the company's stock price surged by more than 50%.
Metaplanet's Bitcoin holdings exceed 17,000 BTC
It's not just Ethereum; the Bitcoin market is also witnessing continuous layouts by corporate giants. Based in Tokyo, Metaplanet announced today that it has purchased an additional 780 BTC, bringing its total holdings to 17,132 BTC.
As disclosed, Metaplanet has invested approximately $1.7 billion in Bitcoin, with an average purchase price of $99,640 per BTC. CEO Simon Gerovich stated on the X platform that the company's Bitcoin investment portfolio has yielded a return of 449.7% so far this year.
According to data from BitcoinTreasuries.net, Metaplanet is currently the seventh largest corporate holder of Bitcoin, following closely behind Trump Media & Technology Group, which holds 18,430 BTC.
Lead by Bitcoin evangelist Michael Saylor, MicroStrategy remains firmly in first place, holding 607,770 BTC and leading the global ranking of corporate Bitcoin investments.
Driven by companies like SharpLink and Metaplanet, institutional investors are becoming increasingly positive about cryptocurrency assets, even considering them as core configurations in their balance sheets. With the effects of Bitcoin halving, expectations for spot ETFs, and a surge in corporate holdings, the future cryptocurrency market may welcome a larger scale "institutional era."
