According to @EricBalchunas, public firm SharpLink Gaming (SBET) has acquired 176,271 ether (ETH) for approximately $463 million, making it the largest publicly traded holder of ETH. This move comes despite its stock price falling sharply after a regulatory filing, though shares remain up roughly 500% since the company pivoted to a crypto treasury strategy. In other major developments, Polygon (MATIC) co-founder Sandeep Nailwal has become CEO of the Polygon Foundation, initiating a strategic overhaul focused on the AggLayer cross-chain liquidity protocol and retiring the zkEVM network. Additionally, the developers of Bitcoin Core confirmed the upcoming version 30 release will significantly increase the OP_RETURN data limit from 80 bytes to nearly 4MB, a change that could impact network usage. The Ethereum Foundation also introduced a new treasury policy, capping annual operational expenses at 15% to ensure long-term sustainability.

According to Lookonchain, SharpLink (@SharpLinkGaming) invested $462.95 million to acquire 176,271 ETH at an average price of $2,626 per ETH. This substantial purchase signals growing institutional confidence in Ethereum and could influence ETH price volatility and liquidity in the short term. Traders should monitor ETH price reactions and potential follow-on institutional interest, as large-scale acquisitions like this often drive increased trading volumes and impact price support levels. Source: Lookonchain via Twitter, June 13, 2025.

According to Lookonchain, SharpLink (@SharpLinkGaming) has acquired 176,271 ETH for a total investment of $462.95 million, with an average purchase price of $2,626 per ETH (source: Lookonchain, June 13, 2025). This large-scale accumulation signals strong institutional interest in Ethereum and is likely to impact short-term ETH price volatility and liquidity. Traders should monitor on-chain data for potential price support zones around the $2,626 level, as well as possible market reactions to further whale activity.