Crypto Shares Gain; Bit Digital up 17%; SharpLink Gaming up 15%; BTCS up 14%

Tiger Newspress

08 Jul

Crypto shares gained in Tuesday trading.

Bit Digital rose 17%; SharpLink Gaming rose 15%; BTCS rose 14%; Canaan rose 7%; Iren rose 5%; MARA rose 3%; Coinbase rose 1%.

SharpLink Gaming stock rose after the company announced it had grown its Ethereum (ETH) holdings to 205,634 tokens and earned 322 ETH in staking rewards since launching its treasury strategy last month.

The Minneapolis-based company acquired 7,689 ETH last week at a weighted average price of $2,501 per token, according to a press release issued Monday. SharpLink, which describes itself as "the world’s largest publicly traded company to adopt Ethereum as its primary treasury reserve asset," has committed 100% of its ETH holdings to staking and restaking protocols.

BTCS Inc. stock jumped after the blockchain technology company announced plans to raise $100 million in 2025 to acquire Ethereum as part of its long-term strategy.

The company aims to become the leading publicly traded firm focused on Ethereum infrastructure while maintaining its position as one of the largest ETH holders among public companies. BTCS plans to implement a hybrid financing approach combining both decentralized finance (DeFi) and traditional finance (TradFi) mechanisms.

"We believe that Ethereum has significant growth potential and is central to the future digital financial infrastructure. Now, with Ethereum at 2021 price levels, is the time to deepen our exposure," said Charles Allen, CEO of BTCS.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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