Ethereum must meet three key conditions to regain upward momentum in its price, according to Joseph Chalom, CEO of Sharplink Gaming, which holds the world’s second-largest publicly disclosed Ethereum treasury. Speaking on Cointelegraph’s Chain Reaction program, Chalom highlighted that the upcoming U.S. CLARITY Act, a renewed risk appetite in global markets, and the acceleration of real-world asset tokenization are the main catalysts needed for Ethereum’s price to move higher.
Global regulation and the impact of the United States
Chalom’s first major catalyst is regulatory clarity for cryptocurrencies, set to be addressed by the CLARITY Act, a bill recently backed by both Republicans and two Democrats in the U.S. Senate Banking Committee. If the legislation passes, it could significantly shift the negative U.S. stance toward digital assets, carrying important consequences at a global level. Chalom points out that major financial hubs in Asia are closely watching these developments out of Washington. He believes that if the U.S. reasserts its leadership in the sector, cities like Hong Kong, Seoul, Tokyo, and Singapore could feel increased competitive pressure.
“I’ve traveled extensively in Asia; financial communities in Korea, Hong Kong, Tokyo, and Singapore are watching the change in the U.S. approach to cryptocurrencies with great attention. If the U.S. regains a leadership role, it causes concern in other centers,” Chalom explained.
Return of risk appetite in the markets
The second catalyst Chalom identifies is the return of risk appetite among investors. He notes that recent global geopolitical tensions and the surge in investments centered around artificial intelligence have dampened interest in cryptocurrencies. However, a revival in risk sentiment could provide significant upside potential for Ethereum and similar projects.
Sharplink Gaming ranks as the world’s second-largest corporate holder of ETH, with a treasury of 861,251 ETH, currently valued at roughly $1.89 billion.
Currently, the price of Ethereum has dropped to the $2,190 range. After hitting an all-time high of $4,823 in August 2025, ETH has declined 55% to date.
Momentum in tokenization and institutional moves
The third strategic factor is the rapid tokenization of traditional financial assets on blockchain platforms. Chalom argues that Ethereum is well positioned to dominate this emerging sector. While $32 billion in assets have been tokenized since 2017, he predicts this figure could increase dramatically in coming years.
“I expect Ethereum will become the predominant platform for tokenizing financial assets. At present, there’s roughly $32 billion in tokenized real-world assets; in the coming year, that could hit $500 billion or even $1 trillion,” Chalom forecasts.
Recently, major asset management companies and banks have accelerated their forays into blockchain tokenization. JPMorgan has filed to tokenize a money market fund on the Ethereum network, aiming to allow stablecoin issuers to keep reserves in regulated, cash-like instruments while earning returns.
In March, Franklin Templeton collaborated with Ondo Finance, announcing plans to tokenize exchange-traded funds (ETFs) on blockchain, enabling investors to directly access these funds through crypto wallets.
These developments highlight how the Ethereum ecosystem’s technological advances may have the power to fundamentally reshape the world of finance and investing. Analysts agree that a convergence of global regulatory clarity, renewed risk appetite, and widespread tokenization could spark a strong rebound in Ethereum’s price.
