Ether Approaches $2,700 After SharpLink Unveils $425 Million Treasury Strategy

Crypto markets traded relatively unchanged on Tuesday as Trump Media and Technology Group confirmed plans to raise $2.5 billion to pursue a Bitcoin treasury strategy.

Investor sentiment was further buoyed after USDC issuer Circle revealed that it has filed for an initial public offering (IPO), planning to list its Class A common stock on the New York Stock Exchange under the ticker CRCL.

Bitcoin traded in a tight range around $110,000 over the past 24 hours, while XRP and SOL gained 1.5% in the same period.

ETH surged 5.5% to $2,680 after Nasdaq-listed SharpLink Gaming announced a $425 million private placement to pursue an Ethereum-based corporate treasury strategy. The lead investor is blockchain software firm Consensys, whose co-founder, Joseph Lubin, will join SharpLink’s board as its chairman once the deal is concluded.

The overall crypto market capitalization dipped 0.5% to $3.6 trillion, according to Coingecko.

Among the Top 100 digital assets, AI agent launchpad Virtuals Protocol (VIRTUAL) is today’s best performer, surging another 17%, followed by Quant (QNT) and Ethena (ENA), which gained 16% and 9%, respectively.

Around 84,400 leveraged traders were liquidated for a total of $262 million in the past 24 hours, according to CoinGlass. Bitcoin accounted for $82 million, while ETH made up $72 million.