Ethereum just got a serious boost — and bulls are taking notice.
SharpLink Gaming, a Nasdaq-listed company, announced a $425 million investment to buy 120,000 ETH. Backed by Ethereum co-founder Joe Lubin, the company aims to become the first Ethereum treasury on Nasdaq, following a strategy similar to MicroStrategy’s massive Bitcoin play.
This bold move has sent Ethereum’s price climbing and shifted the short-term price target to $3,000.
A Big Bet on ETH
SharpLink is buying ETH through a private investment in public equity (PIPE), securing nearly 70 million shares at $6.15 each. The company plans to hold Ethereum as part of its treasury reserves — making it a public ETH proxy for funds unable to hold crypto directly.
According to former Ethereum developer Eric Conner, staking 120,000 ETH would reduce supply and fuel a bullish narrative. He says ETH is being positioned as “digital reserve collateral,” possibly leading more firms to add ETH to their balance sheets through similar stock-based strategies.
Ethereum’s On-Chain Strength Builds
Following SharpLink’s announcement, Ethereum futures open interest hit an all-time high of $36.1 billion, jumping $3.5 billion in just 24 hours. ETH’s price also rose 4.5% in a single day, reflecting increased interest and leverage in the market.
But not everyone is convinced. Analyst VICTOR warned that ETH is still down 19% in 2025 and that leverage-fueled rallies often lead to sharp corrections.
Despite this, ETH has gained 48% over the past month, and technical indicators are signaling further upside.
Technical Setup Points to $3K
On the charts, ETH is forming a bullish descending triangle. A breakout above $2,677 could send the price toward $3,100–$3,200, aligning with previous resistance levels.
The RSI is at 68.5, close to the overbought zone, but still showing strong momentum. This means ETH may be gearing up for another leg up.
Crypto trader mo_xbt described a “sandwich setup” that suggests a retest of $3,000 is likely in the near term.
What’s Next for Ethereum?
If SharpLink’s ETH treasury strategy catches on — like MicroStrategy’s BTC model — we could see more public companies follow suit. That would reduce circulating supply, drive adoption, and potentially make ETH a core part of corporate treasuries.
As futures volume rises, staking grows, and institutional interest ramps up, Ethereum may soon solidify its role as more than just a smart contract platform — but a financial reserve asset.
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