According to SharpLink Gaming CEO Joseph Chalom, Ethereum needs three catalysts for its price to regain momentum and boost.
“One of them is the CLARITY Act, which is about to be passed in the US,” Chalom noted in an interview with Robert Baggs on Cointelegraph’s Chain Reaction show published on Thursday on YouTube. It occurred on the same day that all 13 members of the Republican Party and two Democrats were elected voted to accelerate the implementation of the Digital Assets Transparency Act (CLARITY) in the US Senate Banking Committee meeting.
Chalom said that while many see the legislation, which aims to bring greater transparency to the US crypto industry, as an “American phenomenon,” it is also seen as a major signal to other jurisdictions around the world.
Other countries are noticing that the United States is moving away from a hostile stance towards cryptocurrencies
“I’ve traveled extensively in Asia and if you go to Korea, Hong Kong, Tokyo and Singapore, they’re watching this really closely because they realize that the United States has gone from a hostile stance towards cryptocurrencies and digital assets to, uh, it could become a leader in finance again and you’ll see the red dollarization of many financial activities and other capitals are very concerned,” Chalom said.
Joe Chalom spoke with Cointelegraph’s Robert Baggs about the chain reaction. Source: Cointelegraph
Chalom said the second catalyst is a return to market risk appetite, which he believes will depend largely on an easing of geopolitical tensions and a cooling of the “AI thesis.” “I think we’re going to need some of this to fade away to see cryptocurrencies rise again,” Chalom said.
Sharplink Gaming is the second largest listed Ethereum treasury holding approximately 861,251 ETH worth $1.89 billion at press time, According to to Ethereum Treasuries data.
Ether (ETH) hit an all-time high of $4,823 in August 2025 as part of a broader market uptrend, but has since fallen 55% to $2,190 at press time, According to to CoinMarketCap.
Tokenization is where Ethereum will ‘dominate’
Chalom said the latest Ethereum catalyst he’s watching is the continued expansion of real-world asset tokenization.
“Tokenization of financial assets is an area where Ethereum dominates,” Chalom said.
“I think there are about 32 billion tokenized RWAs. And tokenization started in 2017. So it’s been extremely slow. Now you’re seeing announcements of tokenization of entire fund complexes,” he said.
Several major asset managers have recently made tokenization announcements.
Related: How the stablecoin market tripled from $100 billion to $300 billion in one year
On Wednesday, JPMorgan filed an application to run tokenized a money market fund on the Ethereum platform, enabling stablecoin issuers to hold reserves backing their stablecoins in a regulated, cash-like vehicle while earning interest.
In March, Franklin Templeton announced is partnering with Ondo Finance to bring tokenized versions of its exchange-traded funds on-chain, allowing investors to access them via cryptocurrency wallets.
Chalom said: “You can see a world where in a year there won’t be $30 billion in tokenized assets. It could be $500 billion or a trillion dollars.”
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