Ethereum Surges as Foundation Sells 10,000 ETH for Staking Amid Bullish Momentum

Ethereum is gaining bullish traction as the Ethereum Foundation (EF) recently sold 10,000 ETH—worth approximately $25.7 million—to Sharplink Gaming Inc. (SBET) via an over-the-counter (OTC) deal. The move was aimed at preventing market volatility and was later confirmed by VanEck’s Head of Digital Assets Research, Matthew Sigel.

Sharplink’s Chairman, Joseph Lubin, stated that the purchased ETH will be used for staking and restaking, reinforcing the company's long-term confidence in Ethereum’s future. He emphasized that Ethereum is entering a new era of institutional relevance, with Sharplink committed to supporting its decentralization mission.

This strategic acquisition highlights a growing trend among institutions betting on Ethereum’s scalability and ecosystem strength. At the time of writing, ETH is trading at $3,005.83, up 7.92% in the past 24 hours, with a 44.25% surge in trading volume to $41.36 billion. The cryptocurrency also briefly touched $3,038.14 after finally breaking past the critical $3,000 resistance level.

Meanwhile, Ethereum staking is becoming more accessible. Robinhood has expanded its staking service to U.S. users, allowing investments from as little as $1, a feature previously exclusive to European customers. The move is expected to further increase ETH’s retail and institutional adoption.

Adding to the bullish outlook, prominent crypto investor Arthur Hayes predicts Ethereum could reach $10,000, citing strong institutional accumulation and network strength. If ETH manages to surpass its previous all-time high of $4,891.70, market momentum could accelerate further.

Overall, increasing institutional demand, strategic accumulation, and expanding staking options are positioning Ethereum for a significant rally in the months ahead.