Sharplink Takes First Ether Inflow in Eight Months as Token Price Plummets

Sharplink, a leading Ethereum treasury firm, has received its first ether inflow in eight months. On Thursday, it took in 5,000 ETH worth approximately $7.85 million from FalconX. This influx comes as the token's price slid in a broader crypto sell-off.

The company now holds about 876,285 ether, making it the second-largest public ether treasury behind Bitmine Immersion. However, with prices far below its average purchase cost of around $3,609 per coin, Sharplink faces an estimated unrealized loss of roughly $1.79 billion.

Sharplink has been expanding its focus on ether staking and onchain yield strategies despite the falling token price. The company reported $12.1 million in revenue for the first quarter, a significant increase from $742,000 a year earlier. However, its shares have dropped about 27% in a month and 50% over six months.