SharpLink Gaming Acquires USDC from Circle for ETH Purchase

SharpLink Gaming received a $145 million USDC transfer from Circle on July 26, 2025, moving it to Galaxy Digital for a significant Ethereum acquisition.

This transaction potentially boosts SharpLink’s Ethereum holdings, influencing market sentiment and ETH pricing amid speculative discussions on crypto platforms.

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SharpLink Moves $145 Million USDC to Galaxy Digital

SharpLink Gaming received a substantial $145 million USDC from Circle, which was quickly moved to Galaxy Digital. This transaction is part of SharpLink’s strategy to acquire Ethereum (ETH), a frequent tactic during significant stablecoin inflows.

Leadership changes include the appointment of Joseph Chalom, a former BlackRock executive, as Co-CEO. His experience in crypto and ETF strategy reinforces SharpLink’s digital asset management approach.

Ethereum Price Rises 4% Amid Acquisition Speculations

As a result of this capital movement, market speculations suggest a significant Ethereum acquisition by SharpLink, influencing a 4% increase in ETH’s price over the last 24 hours. Institutional interest continues to affect market sentiment and price stability.

The impact is notable in SharpLink’s reported 360,807 ETH holdings, potentially increased by this transaction. The move emphasizes Ethereum’s role in corporate treasuries, with 95% of its ETH stake involved in liquid staking protocols.

“The SharpLink address has transferred 145 million USDC, which it received earlier today from a Circle address, to a Galaxy Digital wallet.” — Yujin, On-chain Analyst

History of Ethereum Purchases by SharpLink

SharpLink has a history of enhancing its Ethereum reserves through transactions with Galaxy Digital, typically following large USDC transfers. This pattern often precedes short-term market reactions and uplift in market sentiment.

Potential outcomes include shifts in Ethereum’s liquidity and derivatives activities. Analysts suggest further institutional adoption could continue, steering Ethereum’s market position positively.

Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor.