Sharplink: Restarts ETH Purchases With 5,000 Token Buy

Sharplink restarted ETH accumulation after eight months, receiving 5,000 tokens worth $7.85 million from FalconX and lifting its treasury to 876,000 ETH valued at $1.37 billion.

The firm carries an average cost basis of $3,609 and sits on $1.789 billion in unrealized losses, equal to a 56 percent drawdown, following the June 23 formation of Ethlabs with Bitmine and Joseph Lubin to assume select Ethereum Foundation roles.

On the four-hour chart ETH trades at $1,565 inside the Bollinger band with lower support at $1,538 and upper resistance at $1,742; the EMA50 at $1,675 and EMA200 at $1,829 mark clear resistance layers while the MACD death cross at -37.15 and RSI at 33.16 confirm sustained bearish momentum that favors a test of the lower band before any relief rally.