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Sharplink Gaming has solidified its position in the crypto market by acquiring $462 million worth of Ethereum, becoming the largest public ETH holder. Despite this bold move, its stock faced significant volatility amid investor concerns over potential dilution.
- Sharplink Gaming acquired 176,270.69 ETH ($462M), becoming the largest public ETH holder after the Ethereum Foundation.
- The company deployed 95% of its ETH into staking protocols, boosting network security and earning yield.
- Sharplink's stock (SBET) dropped 66% in 24 hours due to dilution fears from an SEC filing, despite no immediate sales.
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