Sharplink has fallen 91% from its highest market value due to ETH treasury panic.
2025-06-14 00:44:53
On June 14th, Sharplink Gaming, one of the largest Ethereum (ETH) treasury companies, collapsed in after-hours trading yesterday, with its share price plunging from $33 at the closing bell of the NASDAQ to below $11 at 8pm. Two weeks ago, Sharplink stock (SBET) was valued at $124, which means its value has shrunk by 91% since then. The market panicked at the surprise announcement of shareholder dilution, while a viral tweet from TheBlock's Steven Zheng claimed that "almost all participants in the SBET private placement have dumped all their shares less than a month after announcing the ETH treasury strategy move." Worryingly, Sharplink's trading volume surged more than 10 times the average, and its single-day percentage loss exceeded any previous trading day.
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