SharpLink Buys $62M ETH as Price Slumps to $1,569 Low

SharpLink has resumed aggressive Ethereum accumulation, purchasing 39,196 ETH worth $62.4 million over three days through June 29 and lifting holdings above 868,000 ETH. The buying follows an eight-month pause and occurs as ETH trades at $1,568.75, its lowest level since April 2025 and down nearly 50% year-to-date. Earlier signals of weakening sentiment included public whale liquidations on Hyperliquid, a brief USDT market-cap flip above Ethereum, and seven straight weeks of spot ETH ETF outflows totaling $12.9 million. Despite these pressures, SharpLink and new whale wallets continue absorbing supply, highlighting a divergence between corporate treasury conviction and broader market demand.