
Ethereum Tops $3,900 as SharpLink Adds $295M in ETH to Staked Holdings
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Ethereum’s price recovery continues, climbing above $3,900 after bouncing from a $3,530 low last week. The move toward $4,000 comes alongside surging trading volumes and institutional accumulation.
Blockchain data from Lookonchain shows that SharpLink, a gaming and data firm, acquired an additional 77,210 ETH (~$295 million) on July 28.
The company now holds 438,017 ETH (~$1.69 billion), predominantly staked through platforms like Figment and Hoppers DApp.
Market activity reflects growing bullish sentiment—spot trading volume rose 47.3% to $32.95 billion, while derivatives open interest hit a record $60 billion. Traders appear to be bracing for volatility, with 24-hour derivatives volume up 61.44% to $89.16 billion.