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Ethereum treasury company SharpLink has purchased an additional 56,533 Ethereum ($ETH) tokens, according to a Tuesday announcement.
The company now holds a total of $3.7 billion worth of $ETH following the latter purchase.
Bitmine remains in first spot
SharpLink Gaming, which is spearheaded by Consensys CEO Joseph Lubin, is currently the largest corporate holder of $ETH.
Tom Lee's BitMine Immersion Technologies actually comes in first place with its total holdings reaching $7.7 billion.
Coinbase, Bit Digital, and ETHZilla are also in the top five by total holdings.
Ethereum's recovery
This strong corporate adoption is likely the main reason why Ethereum ($ETH) has recovered relatively fast.
According to CoinGecko data, the flagship altcoin is currently trading at $4,518 after plunging to the $4,300 level earlier today.