SharpLink, a company led by Ethereum co-founder Joseph Lubin, stated that last week it purchased 39,008 ETH at a cost of $4,531 per Ether (ETH), bringing its total holdings to 837,230 coins, with a market capitalization exceeding $3.6 billion. SharpLink buys ETH weekly, but the recent purchase prices have been relatively high, and it has also been unable to absorb the 10,000 ETH that the Ethereum Foundation announced for sale. SBET continues to fall, and mNAV has dropped below 1.
SharpLink buys ETH weekly, and the buying prices are generally high?
SharpLink raised $46.6 million through ATM issuance of new shares in the week ending August 31, 2025, and bought 39,008 ETH at an average price of about $4,531. Since its launch on June 2, staking rewards have reached 2,318 ETH, and there is still over $71.6 million in cash on hand that has not yet been deployed. The ETH holdings have reached 837,230 coins, with a market capitalization exceeding $3.6 billion.
However, observing the average purchase price of SharpLink, it seems that they buy at relatively higher levels each week.
8/4~8/10: ETH price range 3,490~4,332, average buying price 4,051, falling in the top 67%.
8/11~8/17: ETH price range 4,166~4,788, average buying price 4,648, landing at 78% high.
8/18~8/24: ETH price range 4,060~4,956, average buying price 4,462, falling in the lower middle position of 45%.
8/25~8/31: ETH price range 4,257~4,797, average purchase price 4,531, falling at the 50% median
The Ethereum Foundation has announced the sale of 10,000 ETH. Can SharpLink take it on?
The Ethereum Foundation announced that in the coming weeks, it will convert 10,000 ETH through centralized exchanges as part of ongoing research and development, grants, and donation funding efforts. The conversion will be conducted through multiple smaller orders rather than as a single large transaction.
Joe Lubin, the chairman of SharpLink and co-founder of Ethereum, leveraged his long-standing connections and influence in Ethereum to reach a final agreement with the Ethereum Foundation on July 10, purchasing 10,000 ETH at a price of $25,72.37, which was below the market price at the time of announcement. However, it seems that the Ethereum Foundation plans to sell the coins through centralized exchanges rather than privately reselling them to SharpLink, which has left investors somewhat disappointed, as SharpLink initially touted Joe Lubin's connections. Furthermore, its stock price has been sluggish lately, and purchasing coins does not appear to have positively impacted its stock price.
SBET continues to fall, mNAV has fallen below 1
The concentration of ETH in measuring the efficiency of the SharpLink ETH accumulation strategy has risen to 3.95, but due to the continuous fall in stock prices, the mNAV ( currently has a stock price and its value of the Ether it holds compared to ) has decreased to 0.99, falling below the normal level of 1. SBET has dropped to a two-month low, indicating that investors have very little confidence in it.
This article discusses buying coins at a high price every week? SharpLink's stock price is sluggish, mNAV falls below 1, first appeared in Chain News ABMedia.
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Buying coins at a high position every week? SharpLink's stock price is sluggish, mNAV has fallen below 1.
SharpLink, a company led by Ethereum co-founder Joseph Lubin, stated that last week it purchased 39,008 ETH at a cost of $4,531 per Ether (ETH), bringing its total holdings to 837,230 coins, with a market capitalization exceeding $3.6 billion. SharpLink buys ETH weekly, but the recent purchase prices have been relatively high, and it has also been unable to absorb the 10,000 ETH that the Ethereum Foundation announced for sale. SBET continues to fall, and mNAV has dropped below 1.
SharpLink buys ETH weekly, and the buying prices are generally high?
SharpLink raised $46.6 million through ATM issuance of new shares in the week ending August 31, 2025, and bought 39,008 ETH at an average price of about $4,531. Since its launch on June 2, staking rewards have reached 2,318 ETH, and there is still over $71.6 million in cash on hand that has not yet been deployed. The ETH holdings have reached 837,230 coins, with a market capitalization exceeding $3.6 billion.
However, observing the average purchase price of SharpLink, it seems that they buy at relatively higher levels each week.
8/4~8/10: ETH price range 3,490~4,332, average buying price 4,051, falling in the top 67%.
8/11~8/17: ETH price range 4,166~4,788, average buying price 4,648, landing at 78% high.
8/18~8/24: ETH price range 4,060~4,956, average buying price 4,462, falling in the lower middle position of 45%.
8/25~8/31: ETH price range 4,257~4,797, average purchase price 4,531, falling at the 50% median
The Ethereum Foundation has announced the sale of 10,000 ETH. Can SharpLink take it on?
The Ethereum Foundation announced that in the coming weeks, it will convert 10,000 ETH through centralized exchanges as part of ongoing research and development, grants, and donation funding efforts. The conversion will be conducted through multiple smaller orders rather than as a single large transaction.
Joe Lubin, the chairman of SharpLink and co-founder of Ethereum, leveraged his long-standing connections and influence in Ethereum to reach a final agreement with the Ethereum Foundation on July 10, purchasing 10,000 ETH at a price of $25,72.37, which was below the market price at the time of announcement. However, it seems that the Ethereum Foundation plans to sell the coins through centralized exchanges rather than privately reselling them to SharpLink, which has left investors somewhat disappointed, as SharpLink initially touted Joe Lubin's connections. Furthermore, its stock price has been sluggish lately, and purchasing coins does not appear to have positively impacted its stock price.
SBET continues to fall, mNAV has fallen below 1
The concentration of ETH in measuring the efficiency of the SharpLink ETH accumulation strategy has risen to 3.95, but due to the continuous fall in stock prices, the mNAV ( currently has a stock price and its value of the Ether it holds compared to ) has decreased to 0.99, falling below the normal level of 1. SBET has dropped to a two-month low, indicating that investors have very little confidence in it.
This article discusses buying coins at a high price every week? SharpLink's stock price is sluggish, mNAV falls below 1, first appeared in Chain News ABMedia.