SharpLink Gaming announced a major purchase of 143,593 ETH, totaling $601 million, made between August 10 and August 15, at a price of $4,648 per ETH. This acquisition marks SharpLink's largest ETH purchase in the past month, raising its total holdings to 740,460 ETH, valued at over $3 billion. The announcement came as Ethereum's price faced a downturn, trading at $4,124, down 5.9% in the last 24 hours, amid concerns around U.S. inflation and increased geopolitical tensions. SharpLink is aiming to hold 1% of all circulating ETH, targeting over 1.2 million ETH in total. This purchase follows significant market volatility, with Ethereum recently nearing its 2021 all-time high of $4,878 before a drop of more than 10%. The company's recent capital raises, including $390 million from a direct offering, show an aggressive strategy in accumulating ETH as it seeks to become a significant player in the crypto space. The broader market sentiment is cautious as institutional investments fluctuate and inflation concerns persist.

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