Has Joe Lubin’s SharpLink Gaming Started Selling ETH? SBET Stock Tumbles 8%
The post Has Joe Lubin’s SharpLink Gaming Started Selling ETH? SBET Stock Tumbles 8% appeared on BitcoinEthereumNews.com.
SharpLink Gaming, an Ethereum treasury company, has reportedly started selling its ETH holdings. Joe Lubin-backed company moved 4,364 ETH to a crypto exchange, on-chain platforms reported on Friday. Meanwhile, SBET stock extends its downfall to over 12% in a week after closing 8% lower on Thursday. SharpLink Gaming Dumps 4,364 ETH: On-Chain Platform In an X post on November 7, on-chain platforms including Lookonchain reported that a wallet linked to SharpLink Gaming redeemed 5,284 ETH worth $17.52 million. And transferred 4,364 ETH worth $14.47 million to OKX crypto exchange. SharpLink Gaming Moves ETH to OKX. Source: Arkham Intelligence The wallet still holds 791.07 ETH worth $2.65 million and 0.5 LSETH, according to Arkham Intelligence data. The transfer to OKX was the only deposit from the wallet. This likely comes as the mNAV plunges to 0.82 at the time of writing. The 2nd largest Ethereum treasury company holds 859.40K ETH worth $2.88 billion. It is important to note that the SharpLink Gaming ETH dashboard shows 860,759 in total ETH holdings. SharpLink last accumulated ETH worth $78.3 million from FalconX on October 27. The company mainly staked ETH with Liquid Collective and Figment. However, Ethereum price has crashed over 30% since October as a result of the broader crypto market crash, turning institutions bearish. A wallet linked to SharpLink (@SharpLink) deposited 4,363.5 $ETH, worth $14.47M into #OKX. Has SharpLink started selling $ETH?https://t.co/xEQEziNdoM pic.twitter.com/tQTGwRfJ8q — Onchain Lens (@OnchainLens) November 7, 2025 Will Prices Recover as Joe Lubin Backs a Strong Rally Prediction As CoinGape reported earlier, SharpLink Gaming chairman Joseph Lubin and CIO Matt Sheffield highlighted historical data suggesting a strong rebound in ETH prices following the end of tax loss harvesting and the government shutdown. Sheffield expects a relief rally to be swift and strong when the selling pressure eases. He claimed…
Filed under: News - @ November 7, 2025 4:20 am