Lookonchain spots Sharplink receiving 5,000 ETH
With 876,285 ETH valued at $1.38 billion using current ether exchange rates on Saturday, June 27, 2026, Pointed link ranks below Bitmine’s 5,672,956 ETH cache, making it the second largest ETH Treasure today. This week, the onchain analyst on X known as Lookonchain detailed that Sharplink had acquired 5,000 ETH of the crypto FalconX company.
“After 8 months, Sharplink buys ETH once again », Lookonchain wrote. Onchain analysts also noted in Post X that the publicly traded company paid an average price of $3,609 per coin and is sitting on $1.7 billion in paper losses. While the 5,000 people in the company ETH the influx can be verified on-chain, Sharplink has not issued a press release or official announcement.
Stock down 99% and $1.7 billion in paper losses
Sharplink is part of the growing list of digital asset treasury (DAT) companies monitoring the crypto bear market eat away at their paper winnings. The company’s shares trade Nasdaqand the stock closed June 26 at $4.81 per share. Shares rose 5.48% during Friday’s trading session after the company announced yet another hike. ETH started circulating on social networks.
Despite Friday’s 5.48% rise, Sharplink (Nasdaq: SBET) is down 10.76% over the past week, more than 21% this month, and 47.37% year to date. This is hardly a reason to celebrate. SBET is also trading 99.96% below its all-time high. Sharplink shares generally trade at a discount to their net asset value, with mNAV less than 1.0xwhile almost the entire ether of the company remains at stake.
Sharplink’s resumption of purchases speaks to its conviction, but the numbers tell a more difficult story. Whether it is an accumulation via a bear market proves premonitory or painful remains an open question.
