28th May 2025 > > ETH, SBET, & El Salvador.

tl;dr

ETH is being adopted as a Treasury reserve asset, helping to fuel its recent near-doubling from local lows. A techie proves himself a fantasist. El Salvador fights the good fight against the IMF.

Market Snap

Market Wrap

It’s a snoozefest for BTC right now less than $3k away from making new ATHs once more.

Curious Cryptos’ meme corner – This is going to upset some people

Curious Cryptos’ Commentary – Now it is ETH’s turn

ETH has had a rough time. Trading at over $4k back in December last year, recent lows were below $1,500, a two-thirds sell-off compared to approximately 20% gain in the price of BTC over the same period.

There are those with some strong and negative views about ETH as an investment. For Hodlers, DCAers, and bottom fishers, April and May have seen a partial recovery with a near-doubling from the lows.

SharpLink Gaming (SBET) is one of the first to announce the adoption of ETH as a Treasury reserve asset, with an initial investment of $425mm:

https://investors.sharplink.com/sharplink-gaming-announces-425000000-private-placement-to-initiate-ethereum-treasury-strategy/

Investors like the news – SBET’s stock rallied from $7 to over $35, which is a nice daily return. As the press release makes clear:

“ETH will serve as the Company’s primary treasury reserve asset”.

I repeat an earlier claim I made in relation to the growing number of companies adding BTC to their balance sheet: that the pressure grows on the non-adopters to do so. It starts as a trickle, and then all of a sudden …

Curious Cryptos’ Commentary – A techie on ETH

This news has been accompanied with an extraordinary piece of technical analysis aka snake oil:

“Sandwich set up”? That’s a new one on me. And the claim that “… it always lead (sic) up” is utter nonsense.

Curious Cryptos’ Commentary – El Salvador & the IMF