Ether (ETH) steadily lasts over $ 3,800, according to Coindesk data, as the fight for domination among company ETH state boxes is intensified.
On Tuesday, Sharplink Gaming (SBet) announced that it had purchased another 77,210 ETH last week, worth almost $ 290 million at an average price of $ 3,756. The move is traveling Sharplinks collected Ether Holdings to 438.190 ETH, which is valued at approx. 1.69 billion dollars.
The Minneapolis-based company has now raised over $ 279 million in net proceeds during the week of July 21 through its market (ATM) equity facility. Since the launch of its ETH Treasury strategy on June 2nd, Sharplink has aggressively increased purchases, while in total it generates 722 ETH in Staking Rewards. The company also said its ETH concentration conditions – measuring the total ETH that was held compared to fully diluted shares – has increased 70% since launch.
Despite Sharplink’s wave, Bitmine Immersion Technologies (BMNR) still leads Eth Treasury Race.
The Las Vegas-based company announced on the same day that its total ETH holdings are at 625,000 tokens, valued at $ 2.35 billion. Bitmine also revealed a $ 1 billion open stock purchase program so it can buy back its own stock as a flexible alternative to acquiring additional ETH. Chairman Tom Lee said the move reflects “expected return calculus” as the company is working towards its goal of controlling 5% of Ethereum’s circulating supply.
Competition between the two companies has become an important sub -plan in Ether’s Rise.
Both companies aim to become the dominant ETH Treasury in public markets, and often reflect strategies when they are common among Bitcoin-focused companies as a strategy (former micro strategy). Former Blackrock director Joseph Chalom, now Co-Ceo at Sharplink, emphasized the company’s adaptation to Ether’s long-term value proposition and its role in transforming economic infrastructure.
Ether’s award has been remarkably resistant in a tense macroeconomic week.
Federal Reserve’s monetary political decision is expected on Wednesday at. 14.00 A, without expected rate changes, although bold president Jerome Powell’s remarks can trigger volatility. Despite this uncertainty, ETH has risen 56% in the last month, as the demand from ETFs and corporate chains exceeds new supply.
Technical analysis highlights
- According to Coindesk Research’s technical analysis data model, ETH traded between $ 3,735.12 and $ 3,883.90 during the 24-hour session from July 28, 13:00 UTC to July 29, 12:00 ADC, marking a range of 4%.
- Heavy accumulation to $ 3,735.12 (207,182 units) triggered a rejection in which he lifted ETH to session heights near $ 3,885.
- In the last hour, from 11: 32–12: 31 UTC, ETH rose from $ 3,838.34 to $ 3,850.19, which violated key resistance on strong volume.
- The $ 3,850 zone now serves as support as ETH consolidates near its heights in front of Wednesday’s bold decision.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
