The US -based sports betting platform Sharplink Gaming (SBET) stunned its investors with a giant decline of 73 %after the application of the stock registration. In the application made to the SEC, the record of approximately 58.7 million shares for the potential re -sale triggered the sales panic. The company shares decreased from $ 32,53 to $ 8 in post -overtime transactions. The current price is around 10.55 dollars.

However, the situation may not be as pessimistic as it seems at first glance.

🧠 LUBİN: This is only legal procedure

Joseph Lubin, president of Sharplink Gaming and Consensys CEO, said the decline was caused by a false perception. Lubin said that this is not a sales, but a classic “Form S-3” record for potential re-sale:

“This is not a sales. A standard procedure after PIP investments.”

It was previously announced that the company launched a Ethereum -based treasury strategy and planned to buy an ETH of $ 1 billion in this context. Lubin also emphasized that he or Consensys did not make any sales.

🏦 What happens if the Ethereum of $ 1 billion comes?

Simultaneously with Sharplink’s SEC application, investors are waiting for an official announcement of the $ 1 billion ETH purchasing plan announced on May 30th. BTCS INC. Charles Allen, CEO, said panic was a classic “prisoner dilemma ve and everyone was trying to sell first. However, he added:

“A purchase announcement to be made tomorrow can burn my sparks and re -exacerbate the shares of sbet.”

According to Allen, the company can regain its investor confidence with the right timing after this harsh decline.

💬 Conclusion: Are we witnessing panic or strategy?

Sharplink Gaming’s Ethereum -based strategy can be an important step to move the decentralized finance to the institutional dimension. However, in the stock market, the communication and timing of such moves is vital.

Investors have now turned their eyes to tomorrow. If the company officially announces the purchase of ETH of $ 1 billion, what happened today can evolve into a return story.