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SharpLink Gaming Acquires $16.51 Million in Ethereum Through Galaxy Digital

SharpLink Gaming's total ETH holdings reach 188,000, reflecting a substantial unrealized loss as market conditions fluctuate.

ETH

Summary

SharpLink Gaming has purchased an additional 6,744 ETH for $16.5 million through Galaxy Digital, increasing its total holdings to 188,000 ETH. The average acquisition cost is around $2,617 per ETH, resulting in an unrealized loss of approximately $37.5 million due to market conditions.

Terms & Concepts
  • ETH: Ethereum, a decentralized blockchain platform that enables smart contracts and decentralized applications.
  • unrealized loss: A loss that occurs when an asset's current market value is lower than its purchase price, but the asset has not yet been sold.
  • cost basis: The original value of an asset for tax purposes, used to determine capital gains or losses when the asset is sold.