Ethereum Price Today: $3,650
- Ethereum treasury firm SharpLink Gaming hires Joseph Chalom, a former BlackRock executive, as co-CEO.
- Ethereum ETFs continue their winning streak, recording 15 consecutive days of net inflows.
- ETH targets the critical resistance of $4,100 after consolidating in the $3,470-$3,780 range.
Ethereum (ETH) experienced a 2% dip on Friday. This decline coincided with SharpLink Gaming (SBET) announcing the appointment of Joseph Chalom, formerly of BlackRock, as its co-CEO. This announcement comes amid strong demand from corporate treasuries and U.S. ETH exchange-traded funds (ETFs).
SharpLink Appoints BlackRock Executive as ETH ETFs Extend Winning Run
SharpLink Gaming, an Ethereum treasury firm, revealed on Friday that Joseph Chalom, BlackRock’s former Head of Digital Asset Strategy, will join the company as co-CEO.
“I am joining SharpLink because I see a powerful opportunity to help shape the future of financial infrastructure and decentralized finance,” Chalom stated.
Chalom spent two decades at BlackRock. He played key roles in launching the asset manager’s crypto products, including the iShares Bitcoin Trust (IBIT), the iShares Ethereum Trust (ETHA), and the tokenized fund BUIDL.
“Few executives in the world have had the kind of impact that Joseph has had on unlocking institutional adoption of digital assets, having pioneered BlackRock’s strategic entry into this space,” said Joseph Lubin, Chairman of SharpLink and CEO of Consensys.
This move occurs amidst a growing trend of public companies shifting towards cryptocurrency reserves. ETH treasuries have gained traction in recent months.
SharpLink holds over 360,000 ETH. They plan to increase their acquisition of the leading altcoin through a $6 billion at-the-market (ATM) facility.
Meanwhile, spot Ethereum ETFs in the U.S. continued their positive momentum. They recorded a fifteenth consecutive day of net inflows, totaling $231.23 million, according to data from SoSoValue. These products have attracted over $4.6 billion during this period.
BlackRock’s ETHA has been responsible for the majority of these inflows. It became the third-fastest ETF to surpass the $10 billion mark on Wednesday.
Despite the sustained inflows, ETH investors have begun to show signs of caution. Over $750 million in profits were realized on Thursday.
Ethereum Price Forecast: ETH Consolidates After Two-Week Rally
Ethereum saw $115.49 million in futures liquidations in the last 24 hours. This includes $82.57 million and $32.91 million in liquidated long and short positions, respectively, according to data from Coinglass.
ETH has largely consolidated in the $3,470-$3,780 range over the past week. This follows a rejection near $3,850 on Monday. This limited movement follows a strong upward trend that lasted approximately two weeks.
A firm move above this range could set ETH in motion to test the critical resistance near $4,100. This level has proven to be dominated by bears over the past year.
On the downside, ETH could find support near $3,470 if it fails to hold the 20-period Exponential Moving Average (EMA). Further down, the $3,220 level, reinforced by the 50-period EMA, also serves as support.
The Relative Strength Index (RSI) is trending downwards after retreating from its overbought region. The Stochastic Oscillator (Stoch) has fallen below its neutral level, signaling a weakening of bullish momentum.
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