Amidst the swirling mists of the crypto cosmos, the Ethereum Foundation (EF) has made a move that could be as significant as the first step on the moon. They’ve offloaded 10,000 units of the precious ETH to Sharplink Gaming Inc. (SBET), a transaction that, in the grand scheme of things, might just be the spark that ignites a new era. The deal, worth about $25.7 million, was conducted in the shadows of the over-the-counter (OTC) market, a place where whispers and nods often speak louder than words.
Sharplink’s bold bet on Ethereum’s future
Matthew Sigel, the sage of VanEck’s Digital Assets Research, has enlightened the crypto community with the details of this clandestine trade. The purchase was made in private, a move as stealthy as a ninja in the night, to prevent the market from reacting with its usual dramatic flair.
Joseph Lubin, the visionary Chairman of Sharplink, has confirmed that the purchased ETH will be used for staking and restaking, a commitment that speaks volumes about the company’s faith in Ethereum’s future. “Ethereum is on the cusp of a new era, one where it will stand tall among the giants of institutional finance. Sharplink is here to support the network’s mission of long-term decentralization, no matter the cost,” Lubin declared, his words as bold as the move itself.
$SBET buying 10k ETH from Ethereum Foundation to stake and re-stake
— matthew sigel, recovering CFA (@matthew_sigel) July 11, 2025
The decision to stake and restake the 10,000 ETH is a testament to Sharplink’s unwavering belief in the future of this leading altcoin. It’s a bet on the future, a leap of faith in a world where faith is often the only currency that truly matters.
As of the latest update, Ethereum is trading at $3,005.83, a 7.92% increase in the last 24 hours. The coin has recently peaked at $3,038.14, breaking the $3,000 barrier after a long and arduous journey. The market is buzzing with activity, with trading volume surging by 44.25% to $41.36 billion, a testament to the enduring allure of this digital gem.
Arthur Hayes thinks Ethereum to $10,000 possible
But the story doesn’t end there. Beyond Sharplink, the crypto landscape is shifting once again. U.S. investors using the commission-free app Robinhood can now stake Ethereum, a move that opens the gates to a new wave of retail participation. As U.Today reported, users can stake as little as $1, making it accessible to the masses and not just the crypto elite.
And then there’s the prophecy of Arthur Hayes, a name that carries the weight of a thousand market predictions. Hayes, a longtime market trendsetter, believes that ETH is poised to hit $10,000, a price point that would make even the most skeptical of bears reconsider their stance. “The signals are strong, the momentum is building, and the institutions are showing interest. Ethereum is on the cusp of a massive rally,” Hayes predicts, his words as confident as they are bold.
Market participants are watching closely, noting the growing interest from institutions and key figures in the crypto space. If these forces can propel Ethereum past its previous all-time high (ATH) of $4,891.70 set in 2021, the crypto world might just witness a new chapter in the epic tale of this digital currency.
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2025-07-11 19:00