Rapid change in financial technology and the rise of blockchain technology have increased the popularity of cryptocurrencies and digital assets. As a result of this shift, crypto investment funds and similar institutions are turning to a variety of assets to seize new and potentially lucrative opportunities in the market. In this context, early-stage funds such as the Maelstrom Fund, run by Arthur Hayes’ family office, are playing an important role by focusing on new and emerging blockchain projects.
The last asset that caught the attention of the Maelstrom Fund was a new oracle asset called Flare (FLR). Flare is a rapidly growing and notable project and is described as a competitor to Chainlink. While Maelstrom Fund expresses its expectation that Flare will rise in the future, it states that the altcoin price is currently undervalued. This evaluation highlights Flare’s potential and growth opportunities.
Chainlink is a leading platform in oracle services and has been adopted by many major blockchain projects. However, the Maelstrom Fund’s evaluation suggests that Flare has the potential to become a rapidly developing and gaining traction project. This could mean that Flare could seriously impact Chainlink’s market share in the future.
“To further demonstrate Flare’s potential,” Maelstrom Fund says FLR’s fully diluted valuation is currently around 23% of Chainlink, even though it has less than 10% of the project integrations that Chainlink currently has.
This new Arthur Hayes-linked fund also notes that unlike other oracle providers, including Solana (SOL)-based Pyth Network (PYTH), Flare “can also create its own native ecosystem.”
According to Maelstrom Fund, if Flare reaches 50% of Chainlink’s fully diluted valuation, the altcoin price could increase by approximately 2.2x. The crypto fund claims that FLR could increase by 3.3x if Flare reaches 75% of Chainlink’s fully diluted valuation.
As a result, Flare’s rise and Maelstrom Fund’s valuation could have a profound impact on the development and growth of the cryptocurrencies and blockchain industry. How such projects and evaluations attract the attention of investors and industry experts can be an important factor in shaping the future direction of the industry.
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