Sharplink CEO says ETH offers favorable long-term entry point

Joseph Chalom, CEO of Sharplink Gaming (SBET), stated that while Ethereum (ETH) is currently undergoing a price correction, it represents a highly favorable entry point for the long term. Speaking at the Hong Kong Web3 Festival, he recounted experiencing five to six major cycles in the crypto industry over the past eight years, with each bear market leading to a higher peak, according to Foresight News. Chalom explained that as a digital asset treasury (DAT) company, SBET's stock price rises with ETH, while staking allows it to maintain revenue during downturns. However, he also voiced concerns that the high correlation between cryptocurrencies and U.S. tech stocks makes it difficult for the asset class to prove its independent value, adding that the ecosystem's security standards are inadequate.