Ethereum Price Surges Past $3,900 as Sharplink Buys $295M in ETH, Eyes $4,284 Breakout

Sean Williams
Ethereum

Ethereum cryptocurrency,

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Key Takeaways:

  • Sharplink’s $295M ETH buy pushed Ethereum above $3,900, signaling strong institutional demand.
  • ETH’s technical outlook remains bullish, with indicators like RSI and MACD supporting upward momentum.
  • Institutional accumulation is intensifying, positioning Ethereum to challenge its $4,863 all-time high in the coming weeks.

    Ethereum is edging closer to its historic peak after a major treasury acquisition by Sharplink Gaming. The altcoin surged 2.87% in the last 24 hours, breaking through the $3,900 level and signaling renewed institutional confidence in the world’s second-largest cryptocurrency.

    Sharplink Gaming Boosts Ethereum Holdings with $295M Buy

    Sharplink Gaming, listed on Nasdaq under ticker SBET, has intensified its Ethereum accumulation efforts. The firm recently added 77,210 ETH—worth approximately $295 million—to its treasury. This follows a $258 million Ethereum buy earlier in the month, bringing its total holdings to over 438,000 ETH (valued at $1.7 billion).

    The purchase helped drive Ethereum’s price higher and came amid a surge in daily trading volume, which jumped 26.6% to $30 billion, according to CoinMarketCap.

    Ethereum Technical Indicators Signal Strong Bullish Momentum

    Technical signals support the ongoing ETH rally. The MACD histogram is in strong positive territory at +21.93, while the Relative Strength Index (RSI-14) stands at 81.75—an overbought zone that reflects robust investor demand.

    Ethereum has already broken the critical 61.8% Fibonacci retracement level at $2,950 and is now targeting $4,284 as its next major resistance.

    Institutional Demand Fuels Ethereum’s Uptrend

    Sharplink isn’t alone in doubling down on ETH. Rival firm Bitmine Technologies has leapfrogged Sharplink in the ETH treasury leaderboard with 566,776 ETH—roughly $2 billion in value. This leap was made possible through a recent $500 million investment by billionaire Peter Thiel.

    Meanwhile, GameSquare Holdings entered the institutional Ethereum race with a $100 million initiative. The firm began with a $5 million purchase (1,819 ETH) and plans to explore returns through DeFi investments across the Ethereum ecosystem.

    Also Read: Tron Tops Ethereum in USDT Volume as TRX Gains

    Ethereum is currently trading below its all-time high of $4,863, but momentum is rapidly building. Sharplink’s recent $295 million purchase alone absorbed more than the 72,790 ETH issued over the past 30 days, pointing to a supply-demand imbalance favoring bulls.

    With institutions like Bitmine, Sharplink, and GameSquare actively building ETH reserves, analysts are watching closely for Ethereum to retest its all-time high—and potentially break new ground.

    Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses

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