$6B Ethereum Move by SharpLink Ignites Crypto Frenzy — What It Means for the Best Altcoins

SharpLink doubled down on its Ethereum ($ETH) bet as it increased its stock sale program via an SEC filing on Thursday.

This comes as $ETH’s price continued to climb above $3.5K, its highest level since mid-January.

As such, the market inches closer to altcoin season, where all other crypto assets other than Bitcoin ($BTC) are performing well. The season is perfect if you want to diversify your portfolio with some high-potential presale coins like Bitcoin Hyper ($HYPER) and Snorter Token ($SNORT).

SharpLink Increases Common Stock Sale to Buy More $ETH

In its amended SEC filing on July 17, SharpLink stated that the company is increasing the number of Common Stock shares it will put up for sale from the original $1B to a whopping $6B.

Most of the proceeds will be used to acquire $ETH, with the rest going towards working capital needs, general corporate purposes, operating expenses, and core affiliate marketing operations.

To date, the company said it has sold over 40.5M shares of its Common Stock, translating to gross proceeds of over $720M.

The amended filing followed the company’s recent announcement that it acquired over 280K $ETH on July 13, making it the largest corporate holder of the cryptocurrency.

Ether, Ethereum’s native crypto, has increased by nearly 20% this week, with its price staying firmly above $3.4K since yesterday. It’s currently trading at $3,607.60, which brings it closer to this year’s $4K high.

It’s not just $ETH that’s on the rise at the moment, however.

Aside from $BTC, $BNC, and stablecoins $USDT and $USDC, many of the top cryptocurrencies have seen double-digit growth over the past week.

With the GENIUS Act expected to be signed into law by US President Donald Trump today, the market could be moving towards altcoin season. The numbers on CoinMarketCap certainly look that way.

3 Promising Altcoins as Altcoin Season Looms

The optimism in the crypto market is a boon not only for major coins like $ETH, $XRP, and $SOL, but also for up-and-comers such as:

1. Bitcoin Hyper ($HYPER) – A Layer 2 That Levels Up Bitcoin’s Performance and Scalability

While Bitcoin has seen modest growth in the past week, it’s still undoubtedly the biggest crypto in the market. Because of this, it’ll remain valuable and highly sought after in the foreseeable future.

The problem is slow transaction speeds, high fees, and limited scalability, which bog down $BTC. These are the issues that Bitcoin Hyper ($HYPER) wants to address.

The project aims to develop a Bitcoin Layer 2 that will bring Solana-level speeds to the Bitcoin ecosystem. Plus, using a Canonical Bridge, it’ll facilitate secure $BTC transfers between Layers 1 and 2.

You can get Bitcoin Hyper by purchasing its $HYPER tokens at its official presale page. Each token costs only $0.0123, which offers several perks like governance rights and exclusive access to certain features, dApps, and utilities.

Alternatively, you can lock your purchased tokens in the staking pool. Doing so will allow you to earn passive rewards, with the rate currently at 272% p.a.

To learn more about the project, you can check out the Bitcoin Hyper whitepaper.

2. Snorter Token ($SNORT) – A Trading Bot That Simplifies Solana Meme Coin Sniping

The crypto market is flooded with meme coins, making it difficult to pick the most promising ones. Snorter Token ($SNORT) can help make it easier.

With Snorter Bot, you can do most of your trading on directly through Telegram. Whether it’s managing your portfolio, copying trades, or even sniping, you can do all these without ever leaving the popular messaging app.

The bot will also detect potential honeypots and rug pulls to help protect you against common crypto scams.

Its native $SNORT token is your gateway to exclusive benefits when using the bot. These include low transaction fees, voting rights on new bot features, unlimited snipes, and other community incentives.

At only $0.0985, $SNORT is a cheap and potentially profitable way to invest in altcoins. Of course, you can stake your tokens too and get rewards at a rate of 197% p.a. To get started, visit the Snorter Token presale page.

3. Stellar ($XLM) –Help Power Cross-Border Transactions via the Stellar Network

Stellar ($XLM) is one of the biggest gainers in the current crypto market rally. While it spent most of the year under $0.30, it’s fresh from breaking the $0.40 earlier this week.

Launched in 2014, the Stellar network facilitates lightning-speed payments and currency exchanges for payment providers and financial institutions.

As the network’s native coin, $XLM can be used to pay for transaction fees or as an intermediate currency when converting money from one currency to another.

Like many of the top altcoins at the moment, $XLM has received increased interest over the past several days from institutional investors.

Plus, a scheduled upgrade to its protocol in August will help further speed transactions and scalability within the Stellar network, adding an extra boost to its value.

Time to Buy During the Altcoin Season?

SharpLink has increased its bet on $ETH for good reason. The crypto market is off to new heights with greater interest from institutional investors and the imminent signing of important crypto regulations in the US.

With the value of nearly all altcoins going up, now could be the perfect time to snap up the next big winners while they’re still cheap.

If you’re an investor looking to diversify your portfolio, newer coins like Snorter Token ($SNORT) and Bitcoin Hyper ($HYPER) could be worth considering.

But before you invest, be sure to do your research first. This is not investment advice.

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article.