Ethereum Price Fluctuates After SharpLink’s $103 Million Quarterly Loss

Ethereum price slipped under $4,500 on Friday after SharpLink Gaming reported a $103 Million quarterly net loss.

The decline followed a failed attempt to retest the $4,700 level, which triggered widespread futures liquidations and shifted market sentiment.

Ethereum Price Shows Weakening Momentum

The ETH price stood near $4,468, up about 0.94% in the past day at press time. Weekly gains were 6.2%, while the monthly increase was nearly 23%.

Data from CoinGlass showed that liquidations totaled more than $169 Million, with long positions suffering the majority of the losses.

Analysts said this reversal suggested that recent bullish momentum had weakened.

Technical indicators also confirmed cooling sentiment. The Relative Strength Index (RSI) and the Stochastic Oscillator both retreated from recent highs, pointing to short-term exhaustion.

This shift came shortly after Ethereum attempted to extend its rally but failed to break through the $4,700 resistance area. The rejection accelerated selling pressure, which spilled over into futures markets.

SharpLink Report Links to Ethereum Volatility

SharpLink Gaming’s earnings report highlighted the contrast between its growing ETH holdings and its financial results.

Since shifting to an Ethereum-focused treasury in May, the company raised more than $2.6 Billion to accumulate tokens.

At press time, it controlled over 728,000 ETH, worth more than $3.2 Billion. Nearly all of these holdings were deployed into staking, producing 1,326 ETH in validator rewards.

Co-CEO Joseph Chalom said the company’s strategy had expanded quickly and showed its long-term focus on Ethereum.

However, the reported $103 Million quarterly loss weighed on market sentiment. The largest part of this loss came from an $87.8 Million impairment charge related to liquid staked ETH.

US accounting rules required the company to mark holdings at the lowest quarterly price, which was $2,300 for ETH in this period.

SharpLink clarified that it had not sold or redeemed any of its tokens. Still, revenue dropped 30% year-over-year, and its stock declined 15% to close at $19.85.

Analysts said the results showed strong treasury growth but weak fundamentals in other business lines.

Outlook for Ethereum Price Remains Mixed

SharpLink’s move reflected a broader trend of firms holding Ethereum as a reserve asset. At press time, companies collectively held more than 2.7 Million ETH in treasuries. BitMine Immersion led with around 1.2 Million ETH.

Institutional inflows into Ethereum-linked exchange-traded funds (ETFs) also expanded. Data showed that ETH-focused ETFs attracted over $5.4 Billion in recent months.

said these inflows supported the token despite short-term selling pressure from corporate earnings reports. Meanwhile, Ethereum’s technical ecosystem continued to evolve.

Layer 2 networks such as Arbitrum, Optimism, and zkSync expanded activity, reducing transaction costs and raising throughput.

These developments supported Ethereum’s fundamentals, even as short-term price action remained volatile.

From a technical view, the ETH price traded within an ascending channel. Support between $4,350 and $4,400 coincided with the 50-day simple and exponential moving averages.

Analysts said holding this range could open the way toward $4,785 and potentially test the $4,891 all-time high.

A close below $4,170, however, would invalidate the bullish structure and expose the token to possible declines toward $3,950–$3,500.

Forward view: Institutional Inflows Versus Key Supports

Ethereum faced selling pressure from SharpLink’s earnings report, but institutional participation and technical growth balanced the outlook.

Analysts said ETF inflows and large treasury holdings reflected continued confidence in Ethereum.

At the same time, the ETH price needed to defend support levels around $4,350 to maintain its broader bullish channel.

At press time, the market remained in consolidation, with traders watching whether Ethereum could hold its near-term support or slide toward deeper levels.