SharpLink buys Ethercoin again. After early investors exit, can the encryption demon stock's rise continue?

US online gaming company SharpLink once again purchased 12,207 ETH at a price of 30.7 million US dollars, increasing the company's total ETH holdings to 188,478 ETH, making it the world's largest Ethercoin reserve listed company, and the second largest ETH holder after the Ethereum Foundation. However, SharpLink's selling panic shadow has not been eliminated. After a 70% big dump in the stock price last week, SBET only rose 7% yesterday, and whether long-term investors' confidence has returned still needs proof of time.

SharpLink issues new shares to buy ETH

SharpLink announced its strategic reserve of ( ETH in Ethereum at the end of May, and on 6/13, it announced the purchase of 176,270.69 ETH, spending a total of 4.6 billion dollars. This move has made it the world's largest Ethercoin reserve-listed company, second only to the Ethereum Foundation as the second largest ETH holder.

SharpLink issued 2,547,180 shares of common stock through market price and sold )ATM(, raising approximately $27.7 million in net proceeds. With the proceeds, 12,207 ETH was repurchased, bringing the company's total ETH holdings to 188,478 ETH.

In addition, SharpLink has also deployed all of its ETH holdings in the staking solution, generating 120 ETH rewards since June 2, 2025.

According to the S-3 filing previously submitted by SharpLink Gaming, SharpLink Gaming expects to raise up to $1 billion in funds through the issuance of common stock, preferred stock, warrants, and bonds, one or more times.

)SharpLink announced a 1 billion MMB Ethereum reserve plan, and the SBET price skyrocketed after multiple circuit breakers(

The shadow of selling panic is not yet dispelled, and the stock price plummeted big dump, SBET rose 7% yesterday.

After Sharplink announced its strategic reserve of )ETH( in Ethereum in May, the stock price rose all the way from around $6 to a peak of $124. However, on 6/12, the company submitted the S-3 form to the SEC, registering over 58.7 million shares for possible future resale. This was interpreted by the market as 'about to dump a large amount of shares' and triggered panic selling pressure. The SBET stock price plummeted by over 70% in a single day, returning to around $10, and has been struggling ever since.

Although the author has carefully examined the subscription prices of PIPE and other investors, ranging from $6.16 to $7.995, the current price seems to be not far from the investors' cost price, but clearly the market is still under the shadow of selling panic. And Sharplink continues to buy Ethercoin, proving the company's commitment to consolidating its financial foundation and strategic growth trajectory using blockchain technology, with the stock price rising 7% yesterday. Whether investors can regain long-term confidence, rather than just speculation in the short term, remains to be seen with time and the proof of SBET's stock price.

UPXI also fell 60% due to the announcement of selling, can the momentum of this crypto darling continue?

Another stock, Upexi, with Solana as its reserve, with stock code UPXI), also dumped 60% yesterday after announcing that investors could sell common stock.

Although Upexi CEO Allan Marshall said in an interview, 'This does not mean that investors are selling or want to sell, it just means they can sell,' they are still facing selling pressure from investors.

Since the beginning of this year, a large number of crypto concept stocks have flooded into the market through backdoor listings. Initially, they saw a rise several times higher than that of cryptocurrency coins, which was even more eye-catching. However, once the short-term speculative forces exit, can retail investors exit unscathed? Whether the company can successfully explore another path, like MicroStrategy or the Japanese stock Metaplanet, cultivating for the long term, becoming a blue-chip in the crypto world, also tests the charm and disruptive operational mode of the operators.

( Cryptocurrency demon stocks have become a new battlefield for coin traders! How to buy and sell virtual currency concept stocks through multiple orders or overseas securities firms? )

This article is about SharpLink buying Ethercoin again. After early investors exit, can the rise of the crypto demon stock continue? First appeared on Chain News ABMedia.