Three Catalysts That Could Reignite Ethereum's Price According to a Major ETH Holder

[nihalsari]

SharpLink Gaming CEO Joseph Chalom, whose company is the second-largest publicly listed Ethereum treasury company holding approximately 861,251 ETH valued at $1.89 billion, has outlined three specific conditions he believes need to fall into place for Ethereum to regain serious price momentum. The first is the passage of the Digital Asset Market Clarity Act in the US, which advanced through the Senate Banking Committee with support from all 13 Republican members and two Democrats. Chalom sees the legislation not just as a domestic development but as a major signal to the rest of the world, noting that financial capitals across Asia including Korea, Hong Kong, Tokyo, and Singapore are watching the US shift closely, worried about losing ground as America moves from a hostile stance toward crypto to potentially becoming the global leader in digital finance once again.

The second catalyst Chalom is watching is a return in broader market risk appetite, which he believes depends heavily on geopolitical tensions easing and some cooling of the current enthusiasm around AI investment themes. Ethereum reached an all-time high of $4,823 in August 2025 but has since fallen 55% to around $2,190, reflecting how much sentiment has shifted since that peak. The third and perhaps most consequential catalyst in Chalom's view is the continued expansion of real-world asset tokenization, an area he believes Ethereum is positioned to dominate. All three conditions working together, rather than in isolation, is what he sees as the path to a meaningful and sustained recovery in ETH's price.

[etfs]

Need CLARITY Act, risk appetite

[etfs]

AND RWA growth simultaneously