4E: SharpLink may convert all of its $200 million raised into ETH, while BNC splurges $160 million to buy BNB

ChainCatcher news, on-chain analyst Yu Jin's monitoring shows that 10 hours ago, a new wallet withdrew 52,809 ETH (approximately $220 million) from Coinbase Prime, which was subsequently distributed to 8 addresses for staking, including known addresses of SharpLink. Considering that the company just completed a $200 million equity financing last Friday, the market speculates that its funds were fully used to purchase ETH over the weekend, raising its ETH holdings to approximately 621,000, valued at about $2.65 billion, with an average price of around $3,226.

Another Nasdaq-listed company, BNB Network Company (BNC), announced the purchase of 200,000 BNB (approximately $160 million), becoming the largest enterprise-level holder of BNB globally. The company previously completed a $500 million private placement and listed BNB as a core reserve asset, while the management also underwent restructuring, bringing in executives such as Galaxy Digital co-founder David Namdar.

On the macro front, expectations for a Federal Reserve rate cut have fueled a resurgence in arbitrage trading, leading to a weaker dollar; Ethereum's market capitalization has surpassed $500 billion, reaching the investment threshold for public funds in some U.S. states. The multi-chain DeFi TVL has grown by approximately $35 billion this year to $150 billion.

4E reminds investors: Large institutions increasing their allocation to crypto assets may boost market sentiment, but price volatility and policy variables still exist. It is advised to allocate rationally and manage risks effectively.