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

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• Source: https://dailyhodl.com/2024/05/11/this-chainlink-competitor-could-explode-by-up-to-230-from-current-level-says-arthur-hayes-linked-crypto-fund/