10 firms bought 550k ETH worth over $1.6 billion in 30 days

With its accumulation, Sharplink ETH holdings are now above 290,000 ETH, more than enough to flip the Ethereum Foundation as the biggest Ether holder. The Foundation holds around 242,000 ETH and recently sold 10,000 ETH to Sharplink.

Meanwhile, Sharplink is not the only company on an ETH accumulation spree. Bitmine Immersion has also been buying, with the company holding over 163,000 in ETH, while former Bitcoin miner BitDigital has more than 100,000 ETH after converting its Bitcoin to ETH.

Interestingly, there appears to be a healthy competition between the top ETH treasury companies, with executives of those companies praising the accumulation rate of one another.

Sharplink chairman Joe Lubin described the group as “The League of Extraordinary ETH Accumulator Gentlemen” and praised Tom Lee of Bitmine, San Tabar of Bit Digital, and Charles Allen of BTCS. He added that competition and coordination between the companies will strengthen and improve them.

ETH slips 2% to fall below $3k again

Meanwhile, the massive accumulation rate of ETH, coupled with a market-wide rally, is impacting Ether performance, with the token going above $3,000 twice in the past few days.

Although it has fallen below $3,000 on both occasions, with a recent 2% drop that saw it trade $2,972, there are positive signs that it would soon recover and find its support above that price level.

Over the past seven days, ETH has climbed up more than 16% and the turnaround is more evident in the long term, with a 90% gain in the past 3 months. However, it is still trading 11% below its price at the start of the year.

KEY Difference Wire helps crypto brands break through and dominate headlines fast