SharpLink Gaming Goes All-In on ETH: 77,210 Tokens Flood Into Wallets

SharpLink Gaming just doubled down on Ethereum—hard. The gaming platform's wallets absorbed a staggering 77,210 ETH tokens in a single sweep, signaling either extreme confidence or a very expensive gamble.

Why the massive accumulation? While traditional investors debate 'sound money,' crypto players keep stacking digital chips. No slow-and-steady DCA here—just a headline-worthy, all-caps bet on ETH's future.

One thing's clear: In a market where 'institutional adoption' gets thrown around like confetti, SharpLink's move cuts through the noise. Whether this becomes a masterstroke or a cautionary tale depends entirely on ETH's next act—and how long the gaming sector's hot streak lasts. (Spoiler: Wall Street still thinks it's all Monopoly money.)

SharpLink Gaming stakes with Figment

Just hours after receiving ETH into its wallet, SharpLink Gaming sent some of the tokens to a Figment deposit address. The ETH reached Figment directly through the recently active address, or through another intermediary wallet.

Figment advertises itself as a staking solution meant for institutions, with a 2.99% annualized yield. Figment also offers slashing insurance coverage, as well as WHITE label services for startups to offer under their own brand. At this point, it remains uncertain if SharpLink Gaming would brand its own validators. 

SharpLink made several tranches of 3,200 ETH to the Figment ETH 2.0 depositor address, signaling its ETH is used for additional services. Figment remains a multi-chain staking intermediary, with SOL and BTC services. 

ETH reserves grow exponentially

The latest SBET treasury expansion is part of a larger trend, where companies and projects already hold 2.32M ETH in treasuries. The accumulation of ETH started later than the BTC process, and the numbers are still relatively low, with a total valuation of $9B. 

Treasuries are still to catch up with ETF, which took 5.88M ETH off the market. The buying spree accelerated in July, with multiple daily announcements of treasury expansion. 

The ETH treasury trend has also offered another option to big holders from previous market cycles. Projects like the Ethereum Name Service (ENS) are active treasury operators. Others, like Golem, are sitting on 100K ETH that has been idle since the project’s ICO, and may be reused as a treasury.

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More