Ethereum News – GameSquare, an esports and digital entertainment firm, announced it acquired 1,818.84 ETH at an average price of $2,749, totaling $5 million. This corporate treasury move contributed to Ethereum’s price climbing to $2,900, nearing the $3,000 psychological barrier, with a 7% daily gain, per cryptonews.com.
The purchase reflects growing institutional confidence in Ethereum as a long-term asset, aligning with firms like Bit Digital, which raised $162.9 million for ETH holdings.
GameSquare’s statement emphasized Ethereum’s “strategic value” for innovation and shareholder returns, leveraging its $315 billion market cap and dominance in DeFi and NFTs.
The acquisition coincided with $383.1 million in Ethereum ETF inflows on July 10, amplifying market momentum.
The U.S. House’s ‘Crypto Week’ discussions, starting July 14, further bolstered sentiment, with potential ETF approvals signaling regulatory clarity.
Ethereum’s Layer-2 networks, like Coinbase’s Base, have driven adoption with low-cost transactions, supporting 20% of DeFi volume. However, risks persist, including Europol’s report on Ethereum’s use in dark pool transactions, which could prompt stricter exchange regulations.
GameSquare’s move mirrors Tesla’s Bitcoin strategy, but Ethereum’s volatility, with a 45% drop post-DAO hack in 2016, remains a concern.
Analysts see the $3,000 level as a key test, with a breakout potentially targeting $4,000 by year-end. GameSquare’s investment underscores Ethereum’s growing corporate appeal, but regulatory and market risks will shape its path forward.
