SharpLink Buys the Dip in Ethereum Amid Price Plunge

SharpLink, Inc., a publicly traded company, has made its first Ethereum acquisition in eight months, purchasing 5,000 ETH valued at $7.85 million on Thursday.

This transaction occurred as Ethereum plummeted to $1,537, marking the cryptocurrency's lowest valuation in 2026 with a 5% decline in 24 hours.

SharpLink currently holds 876,285 ETH and ETH-equivalent assets, valued at approximately $1.3 billion, with an average acquisition cost of $3,609 per ETH, representing an unrealized deficit of roughly $1.79 billion.

SharpLink's shares finished trading down 3.49% at $4.56, experiencing a 50.4% decline over the previous six months.

The company is scheduled to be added to the Russell 2000 and Russell 3000 indexes on Monday, which may prompt purchasing activity from tracking funds.