SharpLink swept up 39k ETH in three days, adding to Ethereum at a low price after 8 months.

On-chain data shows that SharpLink Gaming has been continuously increasing its position over the three days when Ethereum fell to its 2026 low, accumulating the purchase of 39,196 ETH (approximately $62.43 million), breaking an 8-month buying hiatus.
(Previous Context: A wallet associated with Vitalik Buterin suddenly transferred "7,000 ETH" after a year of dormancy, causing community panic: Even the founder is jumping ship?)
(Background Supplement: Former Google technical director was liquidated and "sold all Bitcoin," criticizing AI for draining crypto funds)

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• Breaking the 8-month hiatus, striking again
• Buying more as it falls, pressure to average down at $3,609
• The world's second-largest corporate ETH holder

Ethereum treasury company SharpLink Gaming (SBET) is executing a contrarian averaging down gamble. Onchain Lens on-chain monitoring data shows that SharpLink has accumulated an additional 39,196 ETH over the past three days, using a total of approximately $62.43 million.

SharpLink Gaming has bought another 29,196 $ETH ($46.7M). In total, they’ve bought 39,196 $ETH ($62.43M) over the past 3 days.https://t.co/7eEv4HXsYf pic.twitter.com/FmV0qTI7sf

— Onchain Lens (@OnchainLens) June 28, 2026

Breaking the 8-month hiatus, striking again

The starting point of this increase was June 25, 2026. SharpLink, through crypto broker FalconX, purchased 5,000 ETH for approximately $7.85 million, its first move since October 2025, breaking an 8-month buying hiatus. In the previous increase, SharpLink also swept up 19,270 ETH for $78.3 million through open market operations.

On-chain analyst EmberCN pointed out that SharpLink's cumulative purchase volume over the three days has far exceeded the single operation in October 2025, indicating that the company has entered a more aggressive acceleration phase in its strategic pace.

Buying more as it falls, pressure to average down at $3,609

SharpLink initiated its Ethereum treasury strategy on June 2, 2025, with an average purchase cost of approximately $3,609 per ETH. At current prices, the book unrealized loss amounts to approximately $1.79 billion.

Nevertheless, the decision to increase positions continues to be executed. SharpLink is chaired by Joe Lubin, co-founder of Ethereum and founder of Consensys. Its Ethereum treasury strategy is clearly positioned: long-term holding with no stop-loss, exactly the same logic as the BTC accumulation strategy of Bitcoin treasury company Strategy.

The world's second-largest corporate ETH holder

After the increase, SharpLink's Ethereum holdings amount to approximately 880,000 to 910k ETH, with a market value of about $1.4 billion at current prices. This makes it the second-largest institutional ETH holder among global companies, second only to BitMine Immersion.