SharpLink Transfers 379M USDC To Galaxy Digital: Ethereum Buy Incoming?

Ethereum continues to show remarkable resilience, with demand leaving its mark even as price action remains ￰0￱ has been consolidating in a narrow range, mirroring the broader market where Bitcoin trades cautiously and altcoins display selective ￰1￱ behind the scenes, institutional interest in Ethereum is quietly building, setting the stage for what could be the next major ￰2￱ to fresh data from Lookonchain, SharpLink recently transferred $379 million USDC to Galaxy Digital, capital that may be allocated toward purchasing more ￰3￱ transfer underscores a growing trend: institutional players are not shying away from Ethereum, even amid volatility and macroeconomic uncertainty.

Instead, they are positioning themselves for what could be a decisive breakout once the current consolidation phase ￰4￱ Gaming is among the first Nasdaq-listed companies to design a treasury strategy centered on ETH, marking a significant milestone in corporate ￰5￱ treating Ethereum as a strategic reserve asset, it reinforces the idea that ETH’s role extends well beyond speculative trading into long-term institutional ￰6￱ Reading: Bitcoin Mining Difficulty Keeps Rising Despite Price Volatility – Details With consolidation tightening and institutional inflows accelerating, the coming weeks may prove ￰7￱ investors expect a massive surge for Ethereum once the current sideways structure breaks, potentially marking the start of its next major ￰8￱ Expands Ethereum Treasury SharpLink has officially announced that its total Ethereum holdings climbed to 837,200 ETH as of August 31, 2025, solidifying its role as one of the largest corporate holders of the ￰9￱ company continues to pursue its ETH-focused treasury strategy aggressively, with notable activity reported in the week ending August ￰10￱ that week, SharpLink purchased an additional 39,008 ETH, bringing its cumulative balance to new ￰11￱ acquisitions were financed through $46.6 million in net proceeds raised via the company’s at-the-market (ATM) facility, demonstrating its ongoing ability to secure fresh capital for strategic allocations.

Importantly, the average purchase price for the week’s ETH acquisitions stood at $4,531, reflecting the company’s confidence in buying at elevated levels as Ethereum consolidates near all-time ￰12￱ accumulation has elevated SharpLink to the position of the second-largest ETH treasury holding company, trailing only ￰13￱ currently holds more than 2 million ETH, valued at approximately $9.2 billion. Together, these treasury allocations highlight how major institutions are increasingly adopting Ethereum not only as a speculative asset but also as a long-term strategic ￰14￱ expanding its ETH holdings so aggressively, SharpLink is sending a clear signal to the market: Ethereum’s role in corporate treasuries is no longer ￰15￱ adoption grows, such moves could prove pivotal in reinforcing ETH’s status as a core asset in the global digital ￰16￱ Analysis: Trading Sideways Ethereum is trading at $4,436, showing a 2% daily gain as the price begins to emerge from a prolonged consolidation ￰17￱ 12-hour chart highlights that ETH has been moving sideways for much of September, holding firmly above $4,200 support.

Now, momentum appears to be picking up as the price tests resistance around $4,450. The 50 SMA at $4,407 is now acting as immediate support, while the 100 SMA at $4,182 provides a stronger cushion ￰18￱ 200 SMA, sitting at $3,460, remains well beneath the current range, confirming that ETH’s broader bullish structure is ￰19￱ long as Ethereum maintains levels above $4,200, the technical setup favors continuation to the ￰20￱ bulls, the next critical test lies in reclaiming $4,600, a level that has repeatedly capped rallies in recent weeks. A decisive breakout above this resistance would set the stage for ETH to retest the $4,800–$5,000 zone, potentially marking the start of a stronger bullish ￰21￱ image from Dall-E, chart from TradingView