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Crypto Trends

Bitcoin To Hit $1 Million? Eric Trump Shares Optimistic Outlook On Cryptocurrency

by admin August 30, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

At the Bitcoin Asia conference in Hong Kong, Eric Trump, the son of President Donald Trump, predicted that the market’s leading cryptocurrency, Bitcoin (BTC) could soar to $1 million within the next few years, which could represent a major 825% increase from current levels. 

Eric Trump Bullish On Bitcoin

As reported by Reuters earlier on Friday, during a panel discussion, Eric Trump emphasized China’s significant influence in the cryptocurrency sector, referring to the country as “a hell of a power” in driving crypto innovation.

Nevertheless, China still seems far from the US’s role in adopting cryptocurrencies, as the Asian country continues to face significant restrictions on operating digital assets. 

Despite these restrictions by regulators since 2021, Mainland China is reportedly exploring yuan-backed stablecoins to enhance its global usage. Meanwhile, Hong Kong has taken steps to establish itself as a digital asset hub, passing a stablecoin bill in May.

On the other hand, under President Trump’s leadership, the United States has proposed establishing a Bitcoin reserve and passing three key crypto bills, including the GENIUS Act, which could accelerate the use of dollar-pegged cryptocurrencies in everyday transactions.

This has significantly contributed to the broader market’s price surge with Bitcoin reaching a new record of $124,000 on August 14, and Ethereum (ETH) also reaching an all-time high (ATH) just below the $5,000 mark last weekend. 

Despite the cryptocurrency’s recent dip toward $108,000, Eric Trump confidently stated, “There’s no question Bitcoin hits $1 million,” citing strong institutional demand and the cryptocurrency’s limited supply as key factors supporting his optimism.

Crypto Talks Between Trump And Xi Jinping?

When asked if President Donald Trump and Chinese President Xi Jinping might soon discuss cryptocurrencies, Eric Trump suggested that both nations likely possess a deeper understanding of digital currencies than most other countries. 

He highlighted the support the Bitcoin community has shown for his father, expressing hope that such backing would yield significant returns for both the community and the Trump family.

In recent months, the Trump family has ventured into various cryptocurrency initiatives, including the launch of a decentralized finance (DeFi) platform, a stablecoin, a Bitcoin mining operation, and the applications of crypto-focused exchange-traded funds (ETFs). 

Notably, American Bitcoin, a new crypto miner founded in collaboration with Hut 8 and backed by Eric Trump and his brother, Donald Trump Jr., is preparing for a Nasdaq listing next month.

Reuters also reported that during the same conference, crypto exchange Binance founder and former CEO Changpeng Zhao (CZ) remarked that the US is setting a precedent for progressive regulations that could prompt other governments to take similar actions. 

The 1D chart shows BTC’s price correction. Source: BTCUSDT on TradingView.com

Featured image from DALL-E, chart from TradingView.com 

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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August 30, 2025 0 comments
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Solana news
GameFi Guides

Solana Client Agave Smashes 1.1 Million TPS

by admin August 29, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Solana’s Rust validator client Agave has matched Firedancer’s lab record, briefly peaking at 1.1 million transactions per second in a synthetic, single-node benchmark. The result was disclosed by Solana core engineer Andrew Fitzgerald, who wrote: “Hit a burst of 1.1m TPS on agave this morning. Single-node synthetic test with simple transfers. On a branch with several changes not yet merged,” before listing PoH recording and status-cache improvements alongside new “scheduler-bindings,” with block/shred limits disabled for the run.

Pressed on caveats, Fitzgerald added a plain-English qualifier: “disabled block/shred limits, and it’s a burst not sustained. have several long-term perf improvements squashed on top of scheduler-bindings to make this happen.” The exchange underscored that this is a laboratory datapoint, not a network-wide throughput number.

Solana’s Core Client Smashes 1.1M TPS

The milestone immediately fed a broader narrative about client-level competition on Solana. Helius co-founder Mert Mumtaz framed it this way: “last year Firedancer hit 1.1M TPS on a synthetic test — now, Agave has done the same. There is an outdated notion that Solana will become faster only if Firedancer. This is from a time when Agave wasn’t as competitive — but it is now. The competition between the two client teams will improve the chain like never before.”

Anatoly Yakovenko, Solana’s co-founder, poked fun at the victory lap, quipping: “Pls no more. Just ship ag and lower the timers to 150ms.” The remark tracks with the network’s ongoing push to reduce consensus latencies. That push is currently crystallized in SIMD-0326 (“Alpenglow”), a consensus overhaul now in community voting that targets ~150 ms block finality by reworking how and where validator votes occur.

Under the hood, the Agave test hints at where performance headroom is being unlocked. “Scheduler-bindings” — a forthcoming extension that lets validators plug in custom block-packing logic without forking core — has been on Anza’s public roadmap since May. Recent Agave 2.3 literature also details a revamped TPU client (“tpu-client-next”), AccountsDB I/O reductions, a greedy scheduler, and snapshot/gossip improvements, all of which cut real-world overhead even if they don’t show up in synthetic peaks one-for-one.

The obvious question is what the 1.1M TPS burst actually means for users. Synthetic single-node tests measure raw execution and scheduling throughput with some guardrails temporarily lifted; they do not translate linearly to mainnet capacity, which is bounded by network propagation, signature verification, scheduler policy, and economic constraints. Still, the number is directionally consistent with the network’s trajectory. Earlier this month, independent experiments observed six-figure TPS bursts on mainnet under heavy program-call load — a separate datapoint that, taken together with Agave’s lab figure, reinforces the pace of optimization across both client and protocol layers.

Two broader takeaways stand out. First, Solana’s client diversity is no longer hypothetical: Agave (Anza) and Firedancer (Jump Crypto) are now trading blows on the same synthetic leaderboard, with different codebases stressing different parts of the system — a healthy sign for resilience and future performance. Second, the product focus has shifted from trophy numbers to latency and predictability: the 150 ms target, if adopted, compresses user-perceived finality in ways that matter for payments, trading, and real-time apps even when headline TPS fluctuates.

At press time, SOL traded at $207.86.

SOL price above key support, 1-week chart | Source: SOLUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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August 29, 2025 0 comments
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11.7 Million XRP Locked as Key Metric Declines
Crypto Trends

11.7 Million XRP Locked as Key Metric Declines

by admin August 29, 2025


  • XRPL AMM hits bare lows
  • XRPL TVL stable

Amid the mixed price actions witnessed across the broad crypto market, XRP has not only stalled in price, its DeFi growth appears to be declining. 

According to data from XRPSCAN, the amount of XRP locked across all XRPL automated market maker (AMM) pools has reduced to 11,729,984 XRP as of August 28.

The data shows that the XRPL AMM liquidity has declined to levels last reached in November 2024 as the third-largest cryptocurrency by market capitalization continues to experience volatile price movements.

XRPL AMM hits bare lows

With 11,729,984.20 XRP currently pooled in AMM contracts of the XRP ledger, it appears that weakening investor confidence has spurred a retracement in locked liquidity for XRP despite earlier growth this year. The metric had surged to over 14 million about four months ago.

Following the decline in its DeFi activities, the total XRP trading pairs registered on the ledger as of writing stand at 19,953. With the decline in XRPL locked liquidity nearly reaching a one-year low, only a few pools have been added to existing ones, with the total active pools reaching 22,053 on August 28.

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Notably, the downturn in the amount of XRP locked on the AMM pools suggests fading enthusiasm across the XRP community as on-chain metrics suggest momentum is fading. Thus, the negative trend suggests that some liquidity providers on XRPL are increasingly withdrawing capital amid shifting sentiments caused by prolonged market uncertainty.

This contraction in AMM liquidity coincides with mixed price action for XRP, which has struggled to sustain upward momentum in recent sessions. The token has struggled to maintain the $3 support level amid recurring price corrections.

XRPL TVL stable

Despite the decline in locked liquidity on the ledger, data from DefiLlama shows that the total value locked (TVL) across XRPL stands at $99.47 million on August 28, showing zero increase or decline in the last 24 hours.

Source: DefiLlama

While this suggests dormant DeFi activities as XRP liquidity providers are increasingly taking caution, the data further shows that the XRPL DEX remains the dominant protocol, with nearly $80 million TVL, though it has seen a 1.65% weekly decline.

However, it is important to note that stablecoin liquidity on XRPL has surged slightly higher, with the stablecoin market cap increasing 2.20% over the past week to $168.08 million.



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August 29, 2025 0 comments
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Thunderful Group shareholders approve $5.3 million Atari acquisition
Esports

Thunderful Group shareholders approve $5.3 million Atari acquisition

by admin August 28, 2025


Thunderful Group shareholders have approved a deal that sees Atari becoming the majority shareholder of the Swedish company.

On July 29, 2025, Atari announced it had entered a subscription agreement with Thunderful Group, agreeing to acquire approximately 82% of the game company’s shares for SEK 50 million (approximately $5.3 million) – before deducting related costs.

However, this agreement was subject to approval by Thunderful’s shareholders.

On August 28, 2025, Thunderful Group held an extraordinary general meeting, in which shareholders approved the agreement.

The deal sees Atari buying 333,333,334 Thunderful Group shares at SEK 0.15 each (roughly $0.02), with any amount exceeding the share’s quota value to be allocated to the non-restricted share premium reserve.

The share acquisition agreement must be signed by August 28, 2025, with the payment for the shares to be issued within three banking days in cash.

The signing of the deal makes Atari a majority shareholder of the Thunderful Group, which owns development studios Coatsink, Early Morning Studio, Studio Fizbin, Thunderful Development, and To The Sky, as well as publishers Rising Star Games and Thunderful Publishing.

Atari also recently acquired the IP rights to five Ubisoft titles: Cold Fear, I Am Alive, Child of Eden, Grow Home, and its sequel, Grow Up.

The company said it plans to re-release the games and explore opportunities to expand the titles’ reach through new platforms through”updated formats, new content, and extended distribution channels.”



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August 28, 2025 0 comments
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bitcoin
NFT Gaming

Bitcoin Strategy Deepens As Metaplanet Plans $880 Million Raise

by admin August 28, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Japanese investment firm Metaplanet today announced plans to raise another 130 billion yen ($880 million) through an international share sale. Of that amount, the firm intends to allocate roughly $835 million toward purchasing additional Bitcoin (BTC).

Metaplanet Eyes More Bitcoin Purchases

According to a regulatory filing, Tokyo-based Metaplanet has approved a plan to raise as much as $880 million, with nearly $837 million set aside for fresh BTC acquisitions.

To generate the funds, the company will issue 555 million new shares. This issuance could increase the number of Metaplanet’s outstanding shares from 722 million to approximately 1.27 billion.

Often referred to as “Japan’s MicroStrategy,” Metaplanet has emerged as one of Asia’s most prominent corporate Bitcoin holders. Data from CoinGecko shows the firm currently ranks as the world’s 8th largest public company by BTC reserves, holding 18,991 BTC on its balance sheet.

The firm noted that proceeds from the offering will be used between September and October 2025 to accumulate Bitcoin. In addition, around $43.9 million will be reserved for other Bitcoin-related financial operations.

It is important to highlight that the share sale will take place exclusively on international markets. In the US, sales will be restricted to qualified institutional buyers under Rule 144A of the US Securities Act.

Metaplanet’s latest BTC purchase came earlier this week when the firm announced it had bought 103 BTC worth more than $11 million. At present, Metaplanet’s total BTC holdings are valued around $2 billion. The firm plans to hold 210,000 BTC by the end of 2027.

The firm’s strategy reflects a broader trend of corporations integrating Bitcoin into their treasuries. Healthcare company KindlyMD, recently announced a $5 billion stock sale to expand its BTC reserves.

Commenting on the development, David Bailey, CEO, KindlyMD, said that the move to raise $5 billion is a natural next step following the firm’s initial purchase of 5,744 BTC earlier this month. On the CoinGecko list, KindlyMD currently ranks 16th in terms of total BTC held.

Is BTC On The Verge Of Supply Crunch?

BTC’s fixed supply of 21 million coins remains one of its most defining features. However, a significant portion of these coins has been lost in unrecoverable wallets, further reducing the effective circulating supply.

As a result, a quiet race has begun among corporations, institutional investors, and even nation-states to accumulate as much Bitcoin as possible before prices climb further. Recently, a congressman in the Philippines introduced a bill proposing the creation of a strategic Bitcoin reserve for the nation.

Meanwhile, Dutch crypto services company Amdax announced plans last week to launch a public Bitcoin treasury firm, while Nasdaq-listed Top Win International disclosed a $10 million raise for BTC purchases.

In similar news, Turkish mobility app Marti Technologies stated last month that it will hold 20% of its cash reserves in Bitcoin. At press time, BTC trades at $112,013, up 1.9% in the past 24 hours.

Bitcoin trades at $112,013 on the daily chart | Source: BTCUSDT on TradingView.com

Featured image from Unsplash.com, chart from and TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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August 28, 2025 0 comments
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Ethereum Whales Return With $213 million ETH Purchase, What's Happening?
NFT Gaming

Ethereum Whales Return With $213 million ETH Purchase, What’s Happening?

by admin August 27, 2025


With the broad cryptocurrency market showing signs of a brief rebound, whales appear to be exiting the market regardless. 

On August 27, on-chain monitoring company Whale Alert reported a massive Ethereum deposit in a mysterious move that appears to be an attempt to sell.

The major ETH transfer, which happened in a matter of minutes, saw a total of 33,622 ETH flow into the U.S.-based crypto exchange Coinbase. Although the transfers were made in two separate transactions, the total ETH moved in both transactions was worth over $213 million, per data provided by the source.

Following the nature of both transfers, they have been perceived as a major sell attempt from Ethereum whales, as large crypto deposits to crypto trading platforms are pointers to massive selling sprees from high-profile investors or institutions.

Massive ETH dump from whales

It is not uncommon for transfers like this to be executed during moments of high volatility and broad market dips where investors look to secure their capital and avoid major losses. However, these massive Ethereum transfers were spotted when the market was experiencing a sharp rebound in the prices of cryptocurrencies, including leading altcoins like Ethereum, XRP, and Solana.

As such, it appears that long-persisting market correction has seen investors’ confidence go weak, and whales are taking decisive efforts to dump their holdings. Hence, large investors are increasingly spotted selling off their stash in preparation for the supposed bear phase.

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After multiple days of trading sideways, the market has seen a brief resurgence in the price of Ethereum, flipping from a low of $4,501 to a high of $4,656 within the same day.

While the large ETH deposits to Coinbase in the last hour may not have affected the price performance of the asset during the period, commentators suggest that the move might be mere strategic portfolio redistribution from institutions.

With bearish concerns increasingly lingering within the crypto ecosystem in the past days, investors are worried that bears might be taking over the market, leading to deeper plunges in the prices of cryptocurrencies, especially Bitcoin and Ethereum, which are renowned for their dominance in the crypto market.

Source: CoinMarketCap

Nonetheless, Ethereum has remained stable on the upside since the time of the transfers, according to data showcased by CoinMarketCap. With Ethereum trading steadily at around $4,642.01, it has surged by nearly 3% in the last 24 hours.



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August 27, 2025 0 comments
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Solana
NFT Gaming

Solana Treasury To See Major Boost With DeFi Dev Corp’s $125 Million Raise Plan

by admin August 27, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Cryptocurrency treasury has grown to be a notable development in this bull market cycle, and Solana is gaining significant interest and attention in this new area of investment. Several companies, both big and small, are consistently making efforts to adopt a SOL treasury due to the altcoin’s robust potential and position in the broader cryptocurrency sector.

A Move Towards Strengthening Solana Treasury

The idea of a Solana treasury is picking up pace at a substantial rate among popular treasury companies in the financial sector. As the move gains traction, DeFi Development Corp has set its sights on strengthening Solana’s financial foundation, unveiling plans to accelerate the growth of its SOL treasury.

In a strategic move, DeFi Dev Corp aims to raise about $125 million in equity to increase and bolster its SOL treasury. “Our goal is straightforward: acquire as much SOL as possible, as quickly as possible, and do it in a way that compounds value per share for our investors,” Joseph Onorati, Chief Executive Officer of DeFi Development Corp, stated.

This initiative is a key attempt to strengthen liquidity, increase network sustainability, and establish Solana as a more robust participant in the developing blockchain market. The move has been filed with the US Securities and Exchange Commission (SEC) via the EX-99.1. 

According to the filing, the company is offering to sell 4.2 million shares of its common stock in total at a purchase price of $12.50 per share. Furthermore, 5.7 million shares of its common stock could be acquired through pre-funded warrants at a purchase price of $12.4999 each, with an exercise price of $0.0001 per share. 

Afterwards, DeFi Dev Corp will receive a combination of cash and locked SOL as part of the offering, which will support DFDV’s goal of optimizing the growth of Solana per Share (SPS). With this move, DFDV is emerging as a prominent Solana treasury vehicle in public markets due to its on-chain connections throughout the Solana ecosystem and access to institutional capital.

In order to increase the size of its treasury holdings, the net proceeds will be invested in both spot SOL and discounted locked SOL. Considering the discount capture on SOL, the transaction is anticipated to be both NAV/share accretive and SPS accretive, which will accelerate the absolute size of the company’s treasury and the effectiveness of our SPS growth strategy. The filing stated that the transaction is scheduled to end on Thursday, August 28, 2025, subject to customary closing conditions.

Sharps Technology Joining The Play

Sharps Technology Inc. has also announced a similar strategic move. On Monday, the company disclosed its intention to raise over $400 million in a private placement to adopt an SOL treasury. With this initiative, the firm is set to establish the largest Solana digital asset treasury strategy.

The company’s move to adopt a SOL treasury is driven by the Solana ecosystem’s notable growth on a global scale. As SOL continues to receive institutional support for its vision of a single global market for every tradeable asset, Alice Zhang, the Company’s CIO, claims that now is the ideal moment to form a digital asset treasury with SOL.

SOL trading at $202 on the 1D chart | Source: SOLUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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August 27, 2025 0 comments
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Dogecoin Whale Empties Binance: 52.9 Million DOGE Leave World's Largest Crypto Exchange
Crypto Trends

Dogecoin Whale Empties Binance: 52.9 Million DOGE Leave World’s Largest Crypto Exchange

by admin August 27, 2025


The market has been choppy all week, but one thing stood out from the usual chartspotting: a new Dogecoin whale pulled 52.9 million DOGE off the world’s largest crypto exchange, Binance. 

That is almost $12 million worth of liquidity that left the exchange in just under a day. The movements came in two big tranches, first 32.9 million DOGE, then another 20 million, both routed into a wallet that appeared only recently and now holds the whole stash.

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The scale is not as important as the context here. Dogecoin has a circulating supply in the hundreds of billions, but when a single address consolidates that much volume, it can change how the order book functions in the short term. 

Source: Onchain Lens via Nansen

Binance is still the busiest place for DOGE, but now it looks like they have fewer of the coins available. This is usually seen as a sign that the holder does not want to trade them on the open market, but rather just hold on to them. This idea has been backed up by the past, when similar outflows happened before recoveries from local lows.

Dogecoin’s price roller coaster

Prices have been changing a lot lately. DOGE dropped to $0.1899 earlier this week, but then it went up to $0.2205 at press time. The whale’s timing lined up with that bounce, so now we are left wondering if this is just opportunistic accumulation or the start of something bigger. 

The next important number to watch is $0.2350, but the bigger picture is that there is less money on the market and more power in the hands of one wallet.

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For Dogecoin, a meme coin that is all about the show, the creation of a whale wallet holding over 52 million tokens is a big deal. What happens next could have even more impact than what is shown on the transaction log.



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August 27, 2025 0 comments
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BlackRock Buys the Dip With $314 Million in Ethereum
NFT Gaming

BlackRock Buys the Dip With $314 Million in Ethereum

by admin August 26, 2025


  • BlackRock tops Ethereum holdings
  • Ethereum price outlook 

Although the crypto market is down today, institutional interests in Ethereum appear unmoved. 

While Ethereum has seen its price trade in the red zone for the most part of the day, BlackRock has displayed resilience with another major ETH buy activity, according to data from Arkham Intelligence Firm.

In an attempt to stack up on the second-largest cryptocurrency by market capitalization for lesser costs, BlackRock has purchased large amounts of Ethereum worth $314 million on August 26th.

BlackRock tops Ethereum holdings

While BlackRock’s iShares Ethereum ETF is renowned for leading the broad crypto ETF community in its steady accumulation of Bitcoin and Ethereum, the move comes as no surprise. However, the timing of the massive ETH buy from BlackRock has got the crypto community talking.

BlackRock’s ETH purchase comes at a time when the market is experiencing massive price downturns, with Ethereum falling as low as $4,316 on the same day. While the price downturn has seen investors exercise caution as sentiments turn bearish, BlackRock has seized the opportunity to accumulate the asset at a cheaper price.

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Although the move signals resilience among Ethereum’s large holders, commentators fear that BlackRock’s massive Ethereum bet at a time like this may cause the leading investment firm to lose its funds.

Ethereum price outlook 

With Ethereum’s recent price rally being preceded by a notable price decline that has lasted for the past two days, investors have shown mixed sentiments on the asset’s price potential.

Amid speculations that ETH’s ongoing downturn is a healthy price correction that will possibly lead to a more sustainable rally in the price of the asset, some analysts have issued warnings that it might be a sign of an early bear phase.

Despite the division over Ethereum’s short-term trajectory, BlackRock has continued to double down on Ethereum during the price slumps. With BlackRock’s latest Ethereum purchase, there are hopes that the move could reinforce investor confidence. Thus, this could help fuel optimism among retail and institutional investors in Ethereum’s long-term price potential.

While Ethereum is trading at $4,515.67 as of press time, the asset is showing a price decline of 1.51% over the last 24 hours. With this slow price action, Ethereum has seen its price fall as low as $4,316 and surge as high as $4,595.88 on August 26th.



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August 26, 2025 0 comments
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Decrypt logo
NFT Gaming

Ethereum Treasury SharpLink Adds $252 Million in ETH to Holdings

by admin August 26, 2025



In brief

  • SharpLink Gaming added around $250 million in Ethereum to its treasury last week.
  • The firm now holds nearly 800,000 ETH valued around $3.6 billion.
  • Myriad predictors are split as to whether or not the firm will reach its goal of 1 million ETH by mid-September.

Gambling marketer turned Ethereum treasury company SharpLink Gaming boosted its ETH holdings last week, adding around $252 million in Ethereum to its stash, the firm announced Tuesday. 

SharpLink added 55,463 ETH at an average price of $4,462, the firm said. The additions bring its total haul to 797,704 ETH valued at $3.6 billion based on the current price of Ethereum.

“Our regimented execution of SharpLink’s ETH treasury strategy continues to demonstrate the strength of our vision and the commitment of our team,” said SharpLink co-CEO Joseph Shalom in a statement. 

“With nearly 800,000 ETH now in reserve and strong liquidity available for further ETH acquisitions,” he added, “our focus on building long-term value for our stockholders while simultaneously supporting the broader Ethereum ecosystem remains unwavering.”

NEW: SharpLink acquired 56,533 ETH at ~$4,462. As of 8/26/2025 we hold 797,704 ETH valued at ~$3.7B

Key Highlights for the Week Ending August 24, 2025:

• $360.9M in net proceeds were raised through the ATM facility this past week.
• Total staking rewards rose to 1,799 ETH… pic.twitter.com/Kb4AKulf6f

— SharpLink (SBET) (@SharpLinkGaming) August 26, 2025

The Minneapolis-based firm raised around $360 million via its at-the-money facility last week to buy Ethereum and maintains around $200 million in cash to buy ETH, according to its statement.

SharpLink is among a handful of Ethereum treasury companies racing to gobble up the second largest crypto asset, now holding around 0.61% of the total ETH supply and only trailing Tom Lee’s BitMine Immersion Technologies among publicly traded firms. BitMine holds more than double the amount of ETH as SharpLink, with about $7.7 billion worth as present.

The firm has publicly stated a goal of acquiring 1 million ETH as its first major milestone, a goal which is around 79% completed as of Tuesday morning. In a Myriad market on Linea, 54% of respondents believe that SBET will reach this goal by September 16. Those odds have dropped 13% in the past 24 hours, despite the recent ETH purchases.

(Disclosure: Myriad is a prediction market and engagement platform developed by Dastan, parent company of an editorially independent Decrypt.)

Shares of SBET have jumped about 1% on Tuesday to change hands at $19.35. The firm’s stock has sunk more than 7% over the past month, despite Ethereum’s 19% gain for the same period.

ETH was trading at $4,520, down more than 2% over the past 24 hours, although it hit a record high above $4,900 over the weekend. The second-largest asset by market value has benefited from the rise of treasuries and exchange-traded funds focused on the asset. 

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August 26, 2025 0 comments
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