ETH Nears $4K After SharpLink Buy As Metaplanet Adds More Bitcoin

The Ethereum price is closing on $4K after SharpLink Gaming made another major purchase and Metaplanet added to its Bitcoin stockpile.

ETH’s price rose a fraction of a percentage in the last 24 hours to trade at $3,831.37 as of 9:35 a.m. EST.

How Crypto Drove Sharplink Gaming Stock Up 50% Last Week

SharpLink Buys $295M In ETH

SharpLink, which is the second largest corporate holder of Ethereum, has cemented its position in the market by acquiring another 77,210 ETH, valued at around $295 million.

The transaction was flagged by on-chain analytics firm Lookonchain, which said in an X post today that the recent purchase has pushed SharpLink’s holdings to over 438K ETH. With ETH’s current price, the stash is worth more than $1.68 billion.

That purchase has also closed the gap between SharpLink Gaming and current biggest corporate ETH holder, BitMine Immersion Technologies, whose holdings stand at over $2 billion.

Metaplanet Continues Its Bitcoin Accumulation

While SharpLink added more ETH to its reserves, Japan-based Metaplanet has also strengthened its Bitcoin portfolio by purchasing another 780 BTC.

The firm disclosed its latest BTC buy in an announcement earlier today, which has pushed the company’s stash to 17,132 BTC.

So far, Metaplanet has spent a total of $1.7 billion on its Bitcoin accumulation, and has acquired the BTC at an average price of $99,640 per coin. 

Metaplanet’s CEO Simon Gerovich announced the buy on X, adding that the firm has achieved a year-to-date yield of 449.7% for its Bitcoin holdings.

Data from Bitcoin Treasuries shows that Metaplanet is currently ranked as the 7th-biggest BTC holder, one position below Trump Media and Technology Group, which holds 18,430 BTC on its balance sheet.

Bitcoin treasury pioneer Strategy, led by BTC bull Michael Saylor, maintains a comfortable lead with its holdings of 607,770 Bitcoins. 

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