Blockchain tracking platform Arkham Intelligence spotted over $108 million in USDC flowing from a SharpLink-linked wallet to Galaxy Digital’s OTC desk, likely for the purchase of roughly 31,900 ETH.
This isn’t SharpLink’s first large-scale buy. The company already ranks as the second-largest corporate holder of Ethereum, with more than 438,000 ETH in its treasury — a position only BitMine, led by Tom Lee, surpasses.
Lee himself has publicly forecast Ethereum could climb to $15,000, citing strong fundamentals, legal clarity for tokenization, and growing institutional demand.
Corporate ETH holdings have now swelled past $10 billion, with names like The Ether Machine, Ethereum Foundation, and PulseChain among the top five holders. Many of these firms are treating ETH as a strategic reserve asset, similar to how some corporations use Bitcoin.
The latest SharpLink purchase comes as Ethereum trades well below its $3,900 local high, echoing recent calls from Eric Trump for investors to take advantage of the dip. For companies betting on ETH’s long-term utility, the current market lull may be more of an opportunity than a setback.
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