Ether (ETH) is more than $ 3,800, according to Coindesk data, because the battle for domination between ethn treasury bills.
Tuesday, Sharplink Gaming (SBET) announced that he had bought 77,210 ETH additional last week, worth almost $ 290 million at an average price of $ 3,756. This decision increases the total assets of Ether from Sharplink to 438,190 ETH, valued at around 1.69 billion dollars.
The company based in Minneapolis has now raised more than $ 279 million in net product during the week of July 21 in its market participation plant (ATM). Since he launched his Eth Treasury strategy on June 2, Sharplink has accelerated purchases aggressively while generating a total of 722 ETH to establish rewards. The company also said that its ETH concentration ratio – measuring the total ETH held compared to fully diluted actions – has increased by 70% since its launch.
Despite Sharplink’s push, Bitmin Immersion Technologies (BMNR) still leads the ETH treasure race.
The company based in Las Vegas announced the same day that its Total ETH holdings amount to 625,000 tokens, worth 2.35 billion dollars. Bitmin has also revealed an action buy -back program at $ 1 billion, which allows him to buy his own action as a flexible alternative to the acquisition of additional ETH. President Tom Lee said this decision reflects the “expected return calculation” while the company works towards its objective of controlling 5% of the circulating offer of Ethereum.
Competition between the two companies has become a major secondary intrigue in the rise of Ether.
The two companies aim to become the Treasury of ETH dominating on public procurement, often reflecting used strategies among Bitcoin -based companies such as the strategy (previously microstrategy). The former director of BlackRock, Joseph Chalom, now Sharplink co-PDG, stressed the alignment of the company on the long-term value proposal of Ether and its role in the reshaping of financial infrastructure.
Ether’s price remained remarkably resilient during a tense macroeconomic week.
The decision of the monetary policy of the federal reserve is due Wednesday at 2 p.m. HE, without any expected rate change, although the remarks of the president of the Fed, Jerome Powell, can trigger volatility. Despite this uncertainty, the ETH climbed 56% in the last month, the FNB demand and corporate treasury bills exceed the new offer.
Strengths of technical analysis
- According to the Technical Analysis Data model of Coindesk Research, ETH was negotiated between $ 3,735.12 and $ 3,883.90 during the session 24/24 of July 28, 1:00 p.m. UTC at July 29, 12:00 pm UTC, marking a range of 4%.
- Strong accumulation at $ 3,735.12 (207,182 units) sparked a bounce, raising the ETH at session peaks close to $ 3,885.
- During the last hour, from 11: 32 to 12: 31 UTC, ETH increased from $ 3,838.34 to $ 3,850.19, raising keys resistance on a strong volume.
- The $ 3,850 zone is now acting as support that ETH is consolidated near its heights before the decision of the Fed on Wednesday.
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