SharpLink Gaming has acquired an additional 5,188 ETH worth over $15.7 million. The company now holds more than 285,890 ETH as it becomes the largest Ethereum holder. Analysts say ETH could spike above $3,000, with $5,000 as a potential target.

SharpLink Gaming’s massive bet on Ethereum has bolstered the top altcoin’s price as bulls hold near the key level of $3,000.

The company’s strengthening of its ETH position with an additional 5,188 ETH worth over $15.7 million saw Ethereum price hold near the critical level as Bitcoin dipped sharply.

Analysts now see ETH hitting a new upside leg, buoyed by SharpLink’s latest purchase that brings the company’s total ETH holdings to over 285,890.

As noted, Ethereum’s price is demonstrating notable resilience as BTC dumps to lows of $116k amid whale selling.

The Satoshi-era whale who recently moved over 80,000 BTC has transferred coins again, including to a centralized exchange. Bitcoin price plummeted amid this, with analysts noting a potential dip in BTC dominance that could mean a major move for altcoins.

Ethereum price holding above the $3,000 mark as SharpLink continues its aggressive accumulation strategy adds to the bullish outlook.

According to Onchain Lens, the company’s recent acquisition of 5,188 ETH adds to a substantial buying spree between July 7 and July 13.

During this period, SharpLink acquired approximately 74,656 ETH for around $213 million at an average price of $2,852 per ETH.

This brings the total holdings to 285,894 ETH, a significant increase from the 280,706 ETH reported earlier.

Notably, approximately 99.7% of SharpLink’s ETH is staked, generating an estimated 415 ETH in rewards since June 2. In terms of concentration, this accounts for about 23% increase since June 13.

NEW: SharpLink becomes the largest $ETH holder among corporate entities

Between July 7 and July 13, SharpLink acquired ~74,656 ETH for ~$213M at an average price of ~$2,852 per ETH

Total holdings now stand at ~280,706 ETH

~99.7% of ETH is staked, earning ~415 ETH since June 2… pic.twitter.com/2yknUWgkLJ

— SBET (SharpLink Gaming) (@SharpLinkGaming) July 15, 2025

Staking nearly all its ETH holdings not only supports Ethereum’s network security but also positions SharpLink as a solid player in the ETH ecosystem.

Recently, Joseph Lubin, Chairman of SharpLink, co-founder of Ethereum said:

“At a time when Ethereum is entering a new era of institutional relevance, we are proud to support the network’s long-term strength and decentralization mission.”

On what the buying means, he added:

“This isn’t a trade – it is a commitment to our long-term vision. SharpLink is acquiring, staking and restaking ETH as responsible industry stewards, removing supply from circulation and reinforcing the health of the Ethereum ecosystem.”

Market analysts are closely watching Ethereum’s price movements, with technical insights suggesting a potential breakout.

Merlijn The Trader highlighted the top altcoin’s price outlook on X.

According to the analyst, ETH shows a “triple RSI bounce” and an intact macro upward channel, indicating that Ethereum may be poised for significant growth.

Per a chart the analyst shared on July 15, 2025, a price explosion could push ETH toward $5,000 as an initial target.

Notably, Ethereum reached highs above $4,800 for its all-time high.

The post Ethereum price forecast as SharpLink buys another 5,188 ETH appeared first on CoinJournal.

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