Sharplink (SBET) received 5,000 ether (ETH) worth about $7.85 million on Thursday, its first ether inflow in eight months, according to Arkham data showing the coins arriving from cryptocurrency brokerage FalconX.
The entry is small compared to the company’s existing stack and comes at an awkward time. Sharplink held 876,285 ether as of June 21, worth about $1.3 billion, making it the second-largest public ether treasury behind Tom Lee’s Bitmine Immersion (BMNR), which held about 5.67 million ether as of mid-June.
Onchain analyst EmberCN puts Sharplink’s average purchase price at around $3,609 per coin, implying an unrealized loss of around $1.79 billion and ether trading near $1,555.
Its last entry came in October 2025, when it added 19,270 ether for $78.3 million, also now deep under water.
Ether arrived as the token fell 5% in 24 hours in a broad cryptocurrency sell-off, falling below $1,560 while bitcoin fell below $59,000. Tether’s USDT briefly surpassed ether by market value during the decline, by around $186 billion to ether’s $185 billion.
