In an announcement yesterday, NASDAQ-registered software company GamesQuare Holdings revealed that it has purchased $5 million worth of Ethereum (ETH) as part of its financial strategy focused on $100 million ETH. With this move, GamesQuare will join many companies that diversify their financials by investing in digital assets.
GamesQuare adopts Ethereum as part of its financial strategy
As cryptocurrency markets regain bullish momentum — reaching the all-time high (ATH) in the past few days highlighted by Bitcoin (BTC) — mainstream interest in digital assets is surged once again. In this context, Ethereum I’ll continue To confirm the increase in recruitment.
The Texas-based company recently completed its first ETH purchase, earning 1,818.84 ETH at a weighted average price of $2,749, totaling $5 million. This is the first step in a broad plan to deploy GamesQuare’s $100 million to Ethereum and related digital assets.
The company’s strategy focuses on building a Cryptocurrency and Treasury framework designed to generate sustainable, risk-adjusted yields through the Decentralized Financial (DEFI) protocol and the broader Ethereum ecosystem. Commenting on the development, Justin Kenna, CEO of GamesQuare, said:
The partnership with dialectics and Ryan Zuller has targeted Medici, a unique platform for dialectics that combines machine learning, automatic optimization and multi-layer risk control, targeting best-in-class risk-adjusted 8-14% yields, 3-4% ahead of current staking benchmarks.
Unlike traditional financial strategies focused on Bitcoin, GamesQuare’s espolization is actively trying to generate yields by engaging in Defi infrastructure rather than simply holding assets. This shows a new growth trend for companies that support ETH over BTC due to diversification of the Ministry of Finance.
While pursuing a higher return typically involves increased risk, Medici’s reputation for advanced risk management and performance tracking provides a layer of confidence. As more companies embrace ETH-based yield strategies, the Defi protocol may attract deeper liquidity over time.
Smart Money to accumulate ETH
Despite currently trading $4,878 ATH at less than 40% in November 2021, Ethereum is growing accumulation by large investors, often referred to as “smart money.”
For example, recent chain data shows ETH whales – wallets holding 10,000-100,000 ETH. Added Earlier this month we scooped up 200,000 ETH, heavy on their holdings.
At the same time, Ethereum-based spot exchange funds (ETFs) are Acquired Towing. Data from SOSOVALUE indicates As of July 10th, there has been a 9-week positive inflow in a row, strengthening the wider investor interest in ETH.
However, there is still some attention Not everything Financial strategies focused on ETH have historically achieved positive outcomes. At the press conference, ETH traded at $2,993, an impressive 7.4% increase over the last 24 hours.
Featured images from charts on Unsplash.com, Sosovalue, and TradingView.com
