Sharplink buys ETH after 8-month pause as token hits 2026 low
Cointelegraph 2026-06-26 03:56:08
Context: Ether treasury company Sharplink has made its first purchase of Ether in eight months, acquiring 5,000 Ether worth $7.85 million, as the token's price hit its lowest point in 2026. This development comes as Sharplink's CEO, Joseph Chalom, had previously identified catalysts that could drive up the price of Ether, some of which have started to materialize. The purchase suggests a potential revival of Sharplink's active Ether accumulation strategy.
Key Facts
- Sharplink, an Ether treasury company, has bought 5,000 Ether (ETH) worth $7.85 million from crypto prime brokerage FalconX, marking its first Ether purchase in eight months.
- The purchase was made on-chain, with on-chain data from Arkham showing the transaction, and the last time Sharplink received Ether from FalconX was on October 26, when it bought $78.3 million worth of ETH.
- Sharplink CEO Joseph Chalom had identified three catalysts that could spur growth in the price of Ether, including the passage of the CLARITY Act in the US, a return to market risk appetite, and the continued growth of real-world asset tokenization.
- The Ether token hit $1,537 on Thursday, its lowest price in 2026, and Sharplink's latest purchase could indicate a revival of the company's active Ether accumulation strategy, according to Andri Fauzan Adziima, research lead at Bitrue Research Institute.
- Sharplink currently holds 876,285 ETH and ETH equivalents, accumulated through active ETH purchases and staking rewards, and is expected to join the Russell 2000 and Russell 3000 indexes on Monday, which could broaden its shareholder base and strengthen its access to capital markets.