Analysts said that Sharplink's stock dilution has caused investors to worry that the gains made through the pledge cannot easily cover its losses, so investors' reaction to Sharplink's plan to pledge Ethereum on Linea has been muted.
Shares of Sharplink (SBET) fell 11% after announcing plans to pledge ETH on Linea and are now trading at $15.73. 82.5% of users on prediction market platform Myriad doubt the company will be able to achieve its goal of 1 million ETH by September 16.
Analysts say the massive issuance of new shares to buy Ethereum is diluting existing investors' stakes, making the stock much less attractive.
Sharplink's plan to stake ETH on Linea has not received a positive response from investors
2025-09-09 01:40:03
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