Three Key Catalysts Could Drive Ethereum Price Rally, Says Sharplink Gaming CEO
Global markets are monitoring the US CLARITY Act "really closely" as America shifts away from its former "hostile stance" toward digital assets, says the chief executive of Sharplink.
Three specific catalysts must align for Ethereum's price to recapture its upward trajectory and experience significant gains, according to Joseph Chalom, CEO of SharpLink Gaming.
"One is the CLARITY Act to pass in the US," Chalom highlighted during a discussion with Robert Baggs on Cointelegraph's Chain Reaction show that was published to YouTube on Thursday. The interview aired on the very same day that the US Senate Banking Committee meeting saw all 13 Republican members alongside two Democrats vote in favor of advancing the Digital Asset Market Clarity Act (CLARITY).
While many observers interpret the legislation—designed to provide the US crypto sector with enhanced regulatory clarity—as "a US phenomenon," Chalom emphasized that it's also being interpreted as a critical signal for other jurisdictions globally.
International markets tracking America's pivot from hostile crypto position
"I've been traveling a lot in Asia, and if you go to Korea, Hong Kong, Tokyo and Singapore, they are watching really closely because they realize the US went from having a hostile stance towards crypto and digital assets to um it could become the leader again in finance and you'll see a red dollarization of a lot of financial activity and these other capitals are very worried," Chalom said.
The second catalyst, according to Chalom, is a resurgence in market risk appetite, which he believes will be contingent upon geopolitical tensions subsiding and a moderation of the "AI thesis." "I think we'll need some of that to go away in order to see crypto rise again," Chalom said.
Sharplink Gaming holds the position of the second-largest publicly traded Ethereum treasury company, possessing approximately 861,251 ETH, which is valued at $1.89 billion at the time of publication, based on 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 the time of publication, according to CoinMarketCap.
Ethereum set to "dominate" in tokenization space
The third and final Ethereum catalyst that Chalom is monitoring closely is the ongoing growth of real-world asset tokenization.
"Tokenization of financial assets is where Ethereum is going to dominate," Chalom said.
"I think there's about 32 billion of tokenized RWA. And tokenization started in 2017. So it's been remarkably slow. Now you're seeing announcements of whole fund complexes being tokenized," he said.
A number of major asset managers have recently made announcements related to tokenization.
On Wednesday, JPMorgan filed to launch a tokenized money market fund on Ethereum, allowing stablecoin issuers to hold reserves backing their stablecoins in a regulated, cash-like vehicle while earning interest.
In March, Franklin Templeton announced it is teaming with Ondo Finance to bring tokenized versions of its exchange-traded funds onchain, allowing investors to access them through crypto wallets.
Chalom said, "You could see a world where there's not $30 billion in tokenized assets in a year from now. It could be $500 billion or a trillion."