Currencies29167
Market Cap$ 2.50T-1.56%
24h Spot Volume$ 31.25B+38%
DominanceBTC51.81%+0.55%ETH16.81%-0.01%
ETH Gas5 Gwei
Cryptorank
MainNewsThis Chainli...

This Chainlink Competitor Could Explode by up to 230% From Current Level, Says Arthur Hayes-Linked Crypto Fund


May, 11, 2024
2 min read
by The Daily Hodl

Maelstrom Fund, an early-stage crypto investment fund operated by Arthur Hayes’ family office, is expressing bullish sentiment on a relatively new blockchain oracle digital asset.

The early-stage fund says that Chainlink (LINK) rival Flare (FLR) is “likely undervalued” currently.

“Chainlink’s early mover advantage has given it a sizable head start, with countless projects having already integrated with its services. However, as Flare gains traction, it has the potential to quickly catch up to Chainlink.”

“To better illustrate Flare’s potential,” Maelstrom Fund says that the fully diluted valuation of FLR is currently about 23% of Chainlink’s even though the upstart has less than 10% of the project integrations that the Ethereum (ETH)-based Chainlink already boasts.

The Arthur Hayes-linked fund says that, unlike other oracle providers including the Solana (SOL)-based Pyth Network (PYTH), Flare “can also build its own native ecosystem.”

According to Maelstrom Fund, if Flare reaches 50% of Chainlink’s fully diluted valuation, the FLR token could go up by approximately 2.2x. If Flare reaches 75% of Chainlink’s fully diluted valuation, FLR could soar by 3.3x, says the Arthur Hayes-linked crypto fund.

“While Chainlink is clearly the market leader, its latency and applicability to high-throughput use cases leaves much to be desired. Pyth’s focus on financial institutions, on the other hand, brings a unique dimension to the oracle space, but leaves much on the table in terms of general applicability across use cases. Flare’s approach of combining the above with features of an L1 (layer-1) gives it a unique positioning worth watching.”

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3

The post This Chainlink Competitor Could Explode by up to 230% From Current Level, Says Arthur Hayes-Linked Crypto Fund appeared first on The Daily Hodl.

Read the article at The Daily Hodl

Read More

Breakout Alert! Chainlink (LINK) On Verge Of Major Surge, Analyst Says

Breakout Alert! Chainlink (LINK) On Verge Of Major Surge, Analyst Says

After a period of consolidation, Chainlink (LINK), the oracle network powering decent...
Jun, 16, 2024
2 min read
by NewsBTC
Bitcoin Price Surge Expected as Altcoins Prepare for Bull Run

Bitcoin Price Surge Expected as Altcoins Prepare for Bull Run

Crypto analyst Mags forecasts a significant breakout in the altcoin market potentiall...
Jun, 17, 2024
< 1 min read
by CoinEdition
MainNewsThis Chainli...

This Chainlink Competitor Could Explode by up to 230% From Current Level, Says Arthur Hayes-Linked Crypto Fund


May, 11, 2024
2 min read
by The Daily Hodl

Maelstrom Fund, an early-stage crypto investment fund operated by Arthur Hayes’ family office, is expressing bullish sentiment on a relatively new blockchain oracle digital asset.

The early-stage fund says that Chainlink (LINK) rival Flare (FLR) is “likely undervalued” currently.

“Chainlink’s early mover advantage has given it a sizable head start, with countless projects having already integrated with its services. However, as Flare gains traction, it has the potential to quickly catch up to Chainlink.”

“To better illustrate Flare’s potential,” Maelstrom Fund says that the fully diluted valuation of FLR is currently about 23% of Chainlink’s even though the upstart has less than 10% of the project integrations that the Ethereum (ETH)-based Chainlink already boasts.

The Arthur Hayes-linked fund says that, unlike other oracle providers including the Solana (SOL)-based Pyth Network (PYTH), Flare “can also build its own native ecosystem.”

According to Maelstrom Fund, if Flare reaches 50% of Chainlink’s fully diluted valuation, the FLR token could go up by approximately 2.2x. If Flare reaches 75% of Chainlink’s fully diluted valuation, FLR could soar by 3.3x, says the Arthur Hayes-linked crypto fund.

“While Chainlink is clearly the market leader, its latency and applicability to high-throughput use cases leaves much to be desired. Pyth’s focus on financial institutions, on the other hand, brings a unique dimension to the oracle space, but leaves much on the table in terms of general applicability across use cases. Flare’s approach of combining the above with features of an L1 (layer-1) gives it a unique positioning worth watching.”

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: DALLE3

The post This Chainlink Competitor Could Explode by up to 230% From Current Level, Says Arthur Hayes-Linked Crypto Fund appeared first on The Daily Hodl.

Read the article at The Daily Hodl

Read More

Breakout Alert! Chainlink (LINK) On Verge Of Major Surge, Analyst Says

Breakout Alert! Chainlink (LINK) On Verge Of Major Surge, Analyst Says

After a period of consolidation, Chainlink (LINK), the oracle network powering decent...
Jun, 16, 2024
2 min read
by NewsBTC
Bitcoin Price Surge Expected as Altcoins Prepare for Bull Run

Bitcoin Price Surge Expected as Altcoins Prepare for Bull Run

Crypto analyst Mags forecasts a significant breakout in the altcoin market potentiall...
Jun, 17, 2024
< 1 min read
by CoinEdition