Important signals for Ethereum: ETH may surge significantly due to "supply shocks", SharpLink purchases exceed the total issuance amount in June.

SharpLink Gaming is the second largest corporate holder of Ethereum (ETH), having acquired 77,210 Ethereum worth $295 million, surpassing the total issuance of Ethereum in June. Moreover, the company shows no signs of slowing down its investment pace in crypto assets.

According to Ultra Sound Money, this purchase volume exceeded the net issuance of ETH on the network over the past 30 days (72,795 ETH). The company will stake most of the acquired ETH to earn staking rewards.

According to Lookonchain, after the recent acquisition of ETH, the company's total holdings of ETH exceeded 438,000 ETH, worth over 1.69 billion dollars.

(Source: Arkham)

SharpLink is the second company holding over $1.5 billion in ETH, with Bitmine Immersion Tech at the top, holding over $2 billion in ETH.

The company stated in a post on X on Sunday: "Banks are not open on weekends. Ethereum operates around the clock."

On July 18, CoinTelegraph reported that SharpLink has submitted a revised prospectus to regulators, planning to increase its stock issuance scale from $1 billion to $6 billion. Most of the proceeds from this issuance will be used to acquire ETH.

SharpLink Launches Talent Acquisition Wave

On Friday, SharpLink announced the appointment of Joseph Chalom as the new Co-CEO.

Chalom worked for 20 years at BlackRock, the world's largest asset management company. After joining SharpLink, he will be responsible for developing and executing the company's global strategy.

In May this year, the company nominated Consensys CEO Joseph Lubin as the chairman of the board.

Ethereum faces supply shocks, which may drive up prices

Purchasing ETH through ETFs by institutional and corporate investors may lead to a shortage in ETH supply, which theoretically could drive up prices.

On Thursday, BitMine Immersion Technologies announced that it holds over 566,000 ETH, valued at over $2 billion at the time of this publication. Additionally, the company announced an ambitious plan to hold at least 5% of the total supply of ETH, equivalent to 6 million ETH, valued at over $23 billion at the time of this writing.

According to the data on strategic ETH reserves, currently, 6.73% of the total supply of ETH, which is 8.12 million Ethereum, worth over 31 billion USD, is held by corporations and ETFs.