TL;DR
- Ethereum (ETH) stabilized above $2,500 as bullish momentum held key technical support.
- SharpLink Gaming announced it has adopted ETH as its primary treasury reserve, holding nearly 200,000 ETH.
- The company uses staking, restaking, and Ethereum-based yield protocols to maximize ETH productivity.
- The move was supported by a $425M private placement led by Consensys, whose founder Joseph Lubin is now SharpLink’s board chairman.
- ETH rose 2.2% in 24 hours as technical analysis pointed to renewed buying pressure above $2,500.
Ethereum Reclaims $2,500 Support as Bulls Return
As of July 6, 2025, Ethereum is trading at approximately $2,512, up 0.56% in the last 24 hours, according to CoinDesk Research. The broader CoinDesk 20 Index also advanced 0.34%, signaling modest bullish sentiment across crypto markets.
Price action shows:
- ETH rebounded from $2,475, rallying to a session high near $2,530.
- A short-term resistance level is forming around $2,530, with solid support at $2,500.
- Over 382,000 ETH changed hands during peak consolidation, confirming high conviction demand.
SharpLink’s $500M ETH Bet: From Strategy to Execution
In a bold shift from traditional treasury management, SharpLink Gaming confirmed its Ethereum-focused strategy via an announcement on X on July 4. The publicly traded sports betting and iGaming firm now holds close to 198,500 ETH, valued at over $500 million, and has become the first Nasdaq-listed company to deploy 100% of its corporate treasury via Ethereum-based protocols.
“Ethereum is the foundation of the future financial internet,” said Joseph Lubin, Ethereum co-founder and new SharpLink chairman, following a $425 million capital injection led by Consensys.
Ethereum: From Asset to Infrastructure
SharpLink’s rationale goes beyond speculative holding. The company aims to maximize productivity by:
- Staking ETH via native and restaking protocols
- Earning on-chain yields from Ethereum-native DeFi strategies
- Accumulating ETH per share to drive long-term shareholder value
CEO Rob Phythian called it a “redefinition of treasury operations in the digital age,” integrating web3 economics with public market discipline.
The strategy was kickstarted by a $425M private placement on May 27, with Ethereum purchases ramping up through June and early July.
SHARPLINK’S ETHEREUM TREASURY STRATEGY
| Metric | Value | Source |
| ETH held by SharpLink (as of July 1) | 198,478 ETH | SharpLink X post |
| ETH value held (approx.) | $500 million | CD Analytics |
| ETH staked | 100% of holdings | SharpLink Disclosure |
| Average acquisition price | $2,626 | Siamak Masnavi, CD Analytics |
| Staking rewards generated | 220+ ETH | CD Analytics |
Lubin and Consensys: Strategic Alignment
Joseph Lubin’s appointment as chairman marks a symbolic and strategic convergence of Ethereum’s core developer community and enterprise finance. As founder of Consensys, Lubin has long championed Ethereum’s modular, scalable, and secure architecture.
By joining SharpLink’s board, he underscores the firm’s alignment with Ethereum’s evolution as the “Layer 1 for global finance”—not just a blockchain but the protocol layer of programmable money.
Ethereum’s Edge: Why It Fits Corporate Treasuries
SharpLink cited Ethereum’s unique properties as key drivers of adoption:
- Productive asset (via staking yields)
- Decentralized and secure infrastructure
- Scarcity due to ETH burn via EIP-1559
- Composability across DeFi, staking, and restaking ecosystems
- Alignment with the future of internet-native commerce
The approach reflects a growing trend of corporates turning to programmable assets like ETH over passive reserves like USD or gold.
Technical Momentum: What’s Next for ETH?
According to CoinDesk’s technical model:
- A 2.2% rally from July 4–5 suggests new short-term momentum
- Support at $2,480–$2,500 appears resilient
- Breakout above $2,530 would open the door to a move toward $2,600
With Ethereum maintaining a positive recovery slope since late June, bulls are eyeing $2,600–$2,700 as the next resistance zone.
Strategic Implications: Ethereum in Public Markets
The broader significance of SharpLink’s move goes beyond crypto circles. It sends a signal that public companies are ready to embrace ETH not just as a speculative asset, but as programmable capital. The firm is not merely investing; it’s integrating Ethereum into its capital structure, operations, and shareholder strategy.
On July 7, SharpLink is scheduled to ring the Nasdaq closing bell, a moment CEO Phythian says will “mark Ethereum’s entry into mainstream corporate finance.”
The Bottom Line
Ethereum’s use as a corporate reserve, combined with staking and DeFi integration, marks a paradigm shift in treasury management. SharpLink’s $500 million ETH bet, backed by Consensys and directed by Joseph Lubin, positions ETH as more than an asset—it’s infrastructure for the programmable economy.Whether other public firms follow remains to be seen. But the case for Ethereum as the financial layer of the internet has never been clearer.
