SharpLink Gaming's share price increased by over 7% following a $30 million investment in Ethereum, boosting its holdings to 188,000 Ether valued at approximately $457.4 million. The company acquired 12,207 Ether at an average price of $2,513 each during the week ending June 20. To fund this purchase, SharpLink sold 2.54 million shares, raising $27.7 million, primarily earmarked for its Ethereum investment. Notably, the company has fully staked its Ether holdings, resulting in earnings of 120 ETH worth about $293,000. Joseph Lubin, SharpLink’s board chairman and Ethereum co-founder, emphasized the potential long-term value addition for stockholders. Despite the uptick, SharpLink's stock remains down significantly, over 87% from its peak of $79.21 on May 29. Additionally, institutional interest in Ethereum has been growing, with notable large purchases and staking activities amidst market volatility.

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