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Ethereum Dominance Faces Test as SharpLink Posts $103M Loss
Ethereum dominance is climbing toward 13.37 percent, signaling strong recovery momentum and renewed investor confidence in 2025.
SharpLink Gaming reported a $103m loss yet doubled down on Ethereum, holding 728k ETH worth over $3.2b in staking reserves.
The crypto market now waits to see if Ethereum can hold above 13.37 percent as institutions like SharpLink bet big on ETH.
Ethereum’s dominance is once again at a critical juncture, raising urgency across the crypto market. Ethereum dominance has surged toward the 13.37% level, a zone that previously triggered sharp rejections in August 2020. However, the current setup looks different
Analysts argue the retest of this resistance-turned-support could determine Ethereum’s near-term direction. Meanwhile, esports marketing company SharpLink Gaming (SBET) has reported staggering losses, despite heavily scaling its Ethereum holdings.
Ethereum Dominance Retesting Key Levels
Ethereum’s dominance, which measures its share of the crypto market, has shown steady recovery since dipping below 10% in 2022. Back then, the market witnessed a bottom near 7.08%. Since then, Ethereum has been reclaiming ground. Moreover, the weekly chart highlights a sharp push toward 13.39%, which signals renewed investor interest and adoption momentum.
Source: Rekt Capital
Besides, the monthly chart reflects a steady uptrend since 2025 began. Hence, traders are closely watching whether Ethereum dominance can transform the 13.37% threshold into a solid support level. A successful retest may fuel further growth, while failure could spark a pullback. Consequently, the monthly close becomes a pivotal factor in shaping market expectations.
SharpLink’s Bold Ethereum Bet
SharpLink Gaming added fuel to the conversation after reporting a $103 million quarterly loss. The company shifted its treasury strategy in May, moving nearly all reserves into Ethereum. Currently, SharpLink holds more than 728,000 ETH, valued at over $3.2 billion. Additionally, almost all the ETH is locked into staking, generating 1,326 ETH in yield since the move.
However, despite the yield, the company recorded an $87.8 million non-cash impairment. The accounting hit came as Ethereum prices dipped to $2,300 during the quarter. Consequently, SharpLink posted a 30% year-over-year revenue drop to $0.7 million. Moreover, SBET shares plunged 15% to close at $19.85.
Market Implications
The combination of Ethereum’s growing dominance and SharpLink’s aggressive ETH accumulation underscores a crucial market shift. Investors are focusing on whether Ethereum can hold dominance above 13.37%. Furthermore, SharpLink’s move highlights growing corporate conviction in ETH, even during volatile conditions
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