Ethereum Whale Tom Lee Flags Peak Market Fear as SharpLink Buys 10,000 ETH
Key takeaways
- Photo by Be In Crypto Sharp Link (SBET) expanded its Ethereum (ETH) treasury this week, buying 10,000 ETH to reach 886,725 ETH in total holdings.
- The company paired the purchase with a stock buyback, repurchasing 2.13 million shares after raising $75 million last week.
- The Ethereum treasury company paid an average of $1,611 per 10,000 ETH, according to a company statement.
Ethereum Whale Tom Lee Flags Peak Market Fear as Sharp Link Buys 10,000 ETH Lockridge Okoth Wed, July 1, 2026 at 12:01 AM GMT+7 2 min read SBET ETH-USD BMNR Sharp Link Adds 10,000 ETH as Tom Lee Sees Crypto's 'Peak Pain'. Photo by Be In Crypto Sharp Link (SBET) expanded its Ethereum (ETH) treasury this week, buying 10,000 ETH to reach 886,725 ETH in total holdings. The purchase came while Fundstrat strategist Tom Lee said sentiment looked worse than after the FTX collapse.
The company paired the purchase with a stock buyback, repurchasing 2.13 million shares after raising $75 million last week. SharpLink frames both moves as a single strategy, increasing the amount of ETH backing each share.
The Ethereum treasury company paid an average of $1,611 per 10,000 ETH, according to a company statement. That price already sits above ETH's $1,570 level at press time, leaving the fresh tranche underwater within days.