Ethereum has spent most of the year losing the price-action battle. AI has sucked oxygen out of the broader risk trade and even Bitcoin has outperformed it despite fears around Strategy finally selling its monumental stash.
But according to Sharplink CEO Joseph Chalom, that is exactly why investors may be missing the bigger story.
In Chalom's view, Ethereum is not waiting for its next era to begin. It has already started. The only thing that has not caught up yet is the price.
"I would go as far as to say that I think we're in a new era of Ethereum," Chalom told Coinage, pointing to the network's 11th anniversary since its first block in July 2015. "We're at the beginning of an institutional supercycle."
It's a bold claim at a moment when ETH is still lagging Bitcoin and investor sentiment around digital ****** et treasury companies has sharply cooled. But Chalom argues the market is looking at the wrong scoreboard. Instead of judging Ethereum solely by daily candles, he says investors should be watching the institutional infrastructure forming around it, the use cases already moving onchain, and the growing realization that the Ethereum Foundation is no longer the only steward of the ecosystem.