Ethereum Price Holds Support as SharpLink Stakes $170M ETH on Linea

Ethereum price held above the $3,000 support on Friday after a volatile week for altcoins. The move followed news that SharpLink Gaming staked $170 million worth of ETH on Linea. EGRAG Crypto’s Ethereum price prediction flagged first resistance at $3.8K–$4.5K, with a potential move to $6K–$7.5K if that zone flips to support.

SharpLink Deploys $170M of Ethereum to Linea

SharpLink Gaming said it deployed $170 million worth of Ethereum to Linea, an Ethereum layer-2 network. The firm described the program as a multi-year effort to improve yield on its ETH holdings. In October, it said it planned to stake up to $200 million worth of ETH on Linea.

SharpLink CIO Matt Sheffield said the deal targeted yield above its current staking rewards. He said the structure used liquid staking and bridging while keeping assets with a qualified custodian. The firm stated that it anticipates receiving additional rewards through Eigen Cloud re-staking and incentives from EtherFi and Linea.

SharpLink reported a treasury of 864,840 ETH valued at $2.7 billion. The company said it stakes that ETH through custodians. It said the Linea deployment adds re-staking rewards and partner incentives on top of ETH staking yields.

The firm said all of its ETH is staked through custodians. It expects yields plus re-staking and incentive rewards from the Linea deal. The company did not disclose incentive rates for individual transactions.

SBET shares rose 1.4% on Thursday and closed at $10.28. That price sits about 33% below the level seen in October. Shares remain down nearly 37% over the past six months. SharpLink is based in Minneapolis, Minnesota.

Linea Connections Expand as Network Tracks Post-token Metrics

SharpLink framed the Linea move as part of a wider push toward Ethereum-linked products. In September, SharpLink CEO Joseph Chalom said that backing “Ethereum-aligned” platforms supports a treasury built around ETH.

SharpLink is part of the Linea Consortium, which helps manage the distribution of the LINEA token. Chairman Joseph Lubin co-founded Ethereum and leads Consensys, which incubated Linea. SharpLink said these ties reflect a focus on Ethereum’s long-term network growth.

Linea launched its native token in September and subsequently experienced lower activity on key DeFi metrics. DeFiLlama data show that Linea TVL peaked at nearly $1.64 billion, about two weeks after its launch. The same dataset shows TVL later fell about 89% to roughly $185.74 million.

SharpLink intends to repeat similar deployments. He said the firm is looking for yield above standard ETH staking.

Ethereum Price Prediction: Analyst Maps the Next Decision Zone

Ethereum price held near $3,000 after slipping about 1% over 24 hours. ETH also remained approximately 37% below its all-time high of $4,946. On the monthly chart shared by EGRAG Crypto, Ethereum price traded between $2,920 and $3,165 during the month.

The same chart showed that Ethereum has been trading within a long consolidation range since 2022. The latest close sits above the $2,920 area. It also sits below the next marked resistance near $3,291.

EGRAG Crypto stated that the inverted monthly view indicates a prolonged accumulation phase. He said a “drop” on the inverted chart maps to a breakout on the standard chart. He listed first resistance at $3,800 to $4,500. Additionally, the Ethereum price prediction said a support flip could open a $6,000 to $7,500 zone.

The analyst said volatility has shifted across cycles as accumulation phases lengthened. Ethereum traders are now watching to see whether the price clears $3,291 or returns to support.