SharpLink Gaming Continues to Buy 6,744 ETH, Total Floating Loss Reaches $37.5 Million
According to on-chain data released by the analysis platform Ember on June 21, SharpLink Gaming - a company operating in the field of sports betting and online entertainment technology - has just made another purchase transaction of 6,744 ETH over the past 4 days, with a total value of around $16.51 million. This transaction was carried out through the cryptocurrency investment company Galaxy Digital.
As of now, the total amount of ETH that SharpLink Gaming has bought and is holding is approximately 188,000 ETH. The company has spent an estimated $493 million on this entire amount, equivalent to an average price of around $2,617 per ETH.
However, with the recent price fluctuations of Ethereum, SharpLink Gaming's ETH investment portfolio is recording a floating loss of around $37.5 million. This indicates that the company is facing significant pressure in the context of volatile cryptocurrency markets.
Information about SharpLink Gaming's continuous buying activity is attracting the attention of investors, especially in the context of large organizations gradually returning to accumulate digital assets
