SharpLink (SBET) Falls 12.89% on Profit-Taking

We recently published 10 Big Names Get Slammed. SharpLink Gaming Inc. (NASDAQ:SBET) is one of the biggest losers on Monday.

SharpLink Gaming extended its losing streak to a third consecutive day on Monday, losing 12.89 percent to close at $25.25 apiece as investors continued to take profits following last week’s surge.

On Wednesday last week, SharpLink Gaming Inc. (NASDAQ:SBET) announced that it is now the largest holder of Ethereum cryptocurrencies globally following the recent acquisition of 74,656 ETH, pushing its total ownership to 280,706. The assets were acquired between July 7 and 13 at a weighted average price of $2,852 each.

The transaction also coincided with SharpLink Gaming, Inc.’s (NASDAQ:SBET) successful raising of $413 million through the issuance of more than 24 million shares At-The-Market between July 7 and 11.

As of July 13, SharpLink Gaming, Inc. (NASDAQ:SBET) said approximately $257 million of the total proceeds have yet to be spent on ETH purchases.

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