U.S. SharpLink: "Stablecoins are a financial innovation...positive for Ethereum"
Summary
- SharpLink Gaming said that increased demand for stablecoins would be positive for Ethereum.
- More than half of stablecoin supply is circulating on Ethereum, which it said is a bullish factor for Ethereum.
- SharpLink Gaming's Ethereum holdings number about 798,000, which it said are worth about 3.66 billion dollars at current value.
Claims have been made that the rising demand for stablecoins such as Tether (USDT) will be positive for Ethereum (ETH).
U.S. SharpLink Gaming said on the 28th (local time) via its official X account, "Stablecoins are the biggest financial innovation and the clearest use case for blockchain," adding, "the larger the base of stablecoins becomes, the more demand there is for Ethereum." SharpLink Gaming said, "Currently more than half of stablecoin supply is circulating on Ethereum," calling stablecoins "a bullish factor for Ethereum."
SharpLink Gaming is a Nasdaq-listed company that adopted an Ethereum treasury strategy this June. According to the Strategic Ethereum Reserve, SharpLink Gaming's Ethereum holdings were about 798,000 as of that day. At current value, that amounts to about 3.66 billion dollars (approximately 5 trillion won).
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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