According to information shared by on-chain data analyst Yu Jin, an address suspected to belong to an Ethereum (ETH) reserve institution has significantly accumulated Ethereum in the past few days, adding 15,846 ETH (approximately $55.34 million) just 8 hours ago, all of which is used for staking. Since August 1, this institution has been continuously purchasing Ethereum through multiple institutional trading platforms, and as of now, it has accumulated a total of 41,452 ETH, with a total value of approximately $148 million and an average purchase price of $3,575 per ETH.
More notably, after receiving the ETH, this institution chose not to retain or transfer it to a cold wallet, but instead staked all of it through the verification service provider Figment, indicating that its deployment intentions lean towards long-term locking and yield strategies.
On-chain data shows that this operational model is highly similar to that of SharpLink Gaming, a publicly listed company in the U.S. stock market. SharpLink, which ranks second in Ethereum holdings among publicly traded companies, has also recently used Figment to stake its Ethereum reserves. Although this institution has not officially announced the holding information of the newly added address, community analysts speculate that this address is highly likely to belong to SharpLink, with specific ownership potentially verifiable in the company’s next reserve announcement.
