Ethereum grew by 2.7% due to major purchase by Sharp Link Gaming Inc — FXStreet

Shares of SharpLink Gaming Inc. soared by 28% after the company acquiried 7,689 Ethereum tokens, thereby increasing its total treasury assets to 205,634 ETH. The purchase stimulated a 2.7% growth in the cryptocurrency, FXStreet notes.

SharpLink's move has attracted significant interest from investors. On Tuesday, the company's share price reached $16.29, according to Google Finance.

As noted by FXStreet, SharpLink began acquiring Ethereum early last month following a $425 million private equity offering led by Consensys. Soon after, Joseph Lubin, CEO of Consensys, assumed the position of chairman at SharpLink.

Meanwhile, Ethereum is forming strong support near $2,500 after rebounding from the key $2,510 level. The $2,500 mark has become one of the most notable ETH accumulation zones in recent months, FXStreet analysts emphasize.