Ethereum (ETH) has recently climbed above the $2,700 mark, trading at $2,702.71 and $2,726.78 on May 29, reflecting a 2.39% increase for the day, according to CoinMarketCap and Gazeta Brasil. The price surge is supported by rising institutional interest and inflows into Ethereum-focused exchange-traded funds (ETFs). SharpLink Gaming, a publicly traded online gambling marketer trading under the ticker SBET, announced a $425 million investment to establish an Ethereum treasury reserve. The move has drawn comparisons to MicroStrategy's Bitcoin strategy. As a result, SharpLink's stock has surged 2,700% this week, with its share price jumping from just over $2 to nearly $80 and its market capitalization reaching $55 million. Consensys CEO and Ethereum co-founder Joseph Lubin has joined SharpLink's board of directors. The cryptocurrency market is also anticipating the expiry of over $11.7 billion in crypto options, including 624,000 ETH options with $1.67 billion in open interest, a put/call ratio of 0.81, and a max pain point at $2,300. These ETH options are set to expire on May 30 and are expected to contribute to increased market volatility. Ethereum's gains have outpaced Bitcoin and other major cryptocurrencies in recent days. Market watchers are monitoring whether ETH can break above the $2,800 resistance level, as the ETH/BTC ratio may have bottomed, signaling potential further upward movement.