Over the past several days, Sharplink Gaming has significantly increased its Ethereum (ETH) holdings, purchasing a total of approximately 79,461 ETH valued at around $278 million. This accumulation includes a recent transfer of 14,933 ETH worth about $52 million from Galaxy Digital to a new wallet, followed by an additional 16,495 ETH valued at $58.5 million. Sharplink Gaming's total Ethereum reserve now stands at approximately 464,382 ETH, with a market value of $1.63 billion. The purchases were executed through Galaxy Digital's over-the-counter (OTC) desk, with some transactions involving USDC stablecoins totaling over $108 million. Meanwhile, a separate market participant has taken a short position on 40,000 ETH with 15x leverage, currently holding an unrealized profit of $7.5 million. These developments reflect active trading and accumulation strategies in the Ethereum market involving large institutional players and whales.