SharpLink Acquires $462 Million in ETH: Stock Plunges as Volatility Concerns Persist

Tech firm SharpLink has made a significant move in the crypto world, acquiring a staggering $462 million worth of Ethereum (ETH). The acquisition raises questions about its financial strategy and triggers market volatility. 50% of this ETH is being staked for long-term gains. This deal makes SharpLink one of the largest public ETH holders. However, the stock reaction reveals investor anxiety regarding this move, with a 66% plunge in pre-market trading.