This Chainlink competitor could explode up to 230% from the current level, says Arthur Hayes-Linked Crypto Fund

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

The early-stage fund says Chainlink (LINK) rival Flare (FLR) is “likely undervalued” at the moment.

“Chainlink’s advantage of being a pioneer has given it a significant advantage, with countless projects already integrated with its services. However, as Flare gains traction, he has the potential to quickly catch up with Chainlink.

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

The Arthur Hayes-linked fund says that unlike other oracle providers including 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 rise approximately 2.2x. If Flare reaches 75% of Chainlink’s fully diluted valuation, FLR could rise 3.3x, the Arthur Hayes-linked crypto fund says.

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

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