Yeliz Akmaca 
Nasdaq-listed SharpLink Gaming Inc. (SBET), one of the largest public holders of Ethereum (ETH), has drawn attention after significant on-chain movements from its corporate wallet. Data shows that a wallet linked to SharpLink executed a redemption of 5,284 ETH (worth around $17.5 million) and later sent 4,364 ETH to the centralized exchange OKX.
Transaction Breakdown: 5,284 ETH Redeemed, 4,364 ETH Deposited to OKX
Blockchain data reveals that SharpLink’s wallet performed two large “RedeemManagerV1 (Proxy)” transactions about eight hours ago.
These redemptions totaled 563.201 ETH ($1.88M) and 4.721K ETH ($15.75M) — releasing 5,284 ETH in total liquidity.
Shortly after, the wallet deposited most of this amount to OKX:
• 5h ago – 0.01 ETH ($33.25)
• 4h ago – 2,000 ETH ($6.64M)
• 1h ago – 2,364 ETH ($7.83M)
In total, 4,364 ETH worth roughly $14.47 million was sent to OKX.
Why Did SharpLink Transfer to OKX?
SharpLink likely moved its ETH to OKX for liquidity management and strategic repositioning. The company may plan to convert part of its holdings to cash, leverage exchange-based trading and staking options, or rebalance its corporate treasury. Such large movements often attract attention, as they can influence market liquidity and short-term investor sentiment.
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