Ethereum wakes up as SharpLink looks at ETH strategy

🔼 Ethereum leads — ETH is up 4%, with related tokens like ENS and ARB gaining more than 6%.

🏦 New ETH treasury player — SharpLink Gaming plans to buy ETH at scale with $425M in funding.

⚖️ US court blocks tariffs — A federal judge has halted the Trump administration’s “Liberation Day” trade tariffs, for now.

🤔 BTC in limbo — Bitcoin continues to oscillate around $108,000, as investors await the next catalyst.

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ETHEREUM (ETH) has climbed 4% over the last 24 hours, outpacing Bitcoin and drawing fresh interest to Ethereum-linked assets.

Ethereum Name Service (ENS) and Arbitrum (ARB), a popular layer-2 Ethereum scaling solution, both rallied more than 6%, reflecting broader momentum across the Ethereum ecosystem.

This divergence comes as Bitcoin (BTC) continues to cool off after its new all-time high last week. The leading cryptocurrency is moving sideways, hovering around the $108,000 level. 

Some of the Ethereum strength may be tied to interest from traditional companies. SharpLink Gaming, a digital sports gaming firm, has announced plans to use proceeds from a $425 million private placement into Ethereum, marking one of the first corporate-scale ETH treasury strategies.

The move is similar to MicroStrategy’s long-running Bitcoin playbook. Adding credibility to the direction is the involvement of Ethereum co-founder Joseph Lubin. 

In macro news, a US federal court has blocked the Trump administration’s recent “Liberation Day” trade tariffs, which were implemented in April and aimed at key foreign imports.

While markets have yet to respond decisively, analysts at Goldman Sachs note that the White House still has levers it can pull to push its agenda forward. The ruling throws another layer of complexity into June’s already full slate of economic and geopolitical events.

With macro uncertainty and corporate crypto moves colliding, all eyes will be on how crypto and traditional markets digest these events. 

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In the markets… 

🌍 Total crypto market cap ⬇️

The global cryptocurrency market capitalisation is approximately $3.41 trillion, reflecting a 1.93% decrease over the last 24 hours. 

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🟠 Bitcoin (BTC) ⬇️

Price: Currently trading at around $107,996 marking a 0.88% decrease in the last 24 hours.
Daily high: Approximately $110,407
Daily low: Approximately $109,057

📈 S&P 500 ⬇️

The S&P 500 index is down about 0.56% since yesterday. 

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🥳 Fear & Greed Index

The Crypto Fear & Greed Index currently stands at 65/100, indicating “Greed” among investors.

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📊 Bitcoin Relative Strength Index (RSI) (14)

The RSI for Bitcoin is approximately 47, with 70 and above indicating an overbought position, while 30 and below indicates that the asset is oversold.

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‍Post Script…

Cautionary Notes

‍‍It's definitely tempting to get swept up in the excitement, but please heed these words of caution: Do your own research, only invest what you can afford, and make good decisions. The indicators contained in this article will hopefully help in this. Remember though, the content of this article is for information purposes only and is not investment advice or any form of recommendation or invitation. The Digital Commonwealth always advises you to obtain your own independent financial advice before investing or trading in cryptocurrency.