According to Bitwise, This Altcoin is Widely Used but Doesn't Get the Recognition It Deserves

Source: CryptoNewsNet Original Title: According to Bitwise, This Altcoin is Widely Used but Doesn’t Get the Recognition It Deserves! Original Link: https://cryptonews.net/news/analytics/32313916/ Bitwise’s CIO has made glowing remarks about an altcoin at a time when Bitcoin (BTC) and altcoins are experiencing sharp declines.

Bitwise CIO Matt Hougan argued in a blog post that Chainlink (LINK) is not getting the recognition it deserves. At this point, Hougan described Chainlink as one of the least valued cryptocurrencies.

According to Hougan, investors may be overlooking Chainlink, one of the most important components of the crypto infrastructure. Despite being one of the most critical assets in the crypto ecosystem—from stablecoins to the tokenization sector and institutional adoption—Chainlink is not getting enough recognition from investors.

“I think Chainlink is one of the least understood, most important, and probably most undervalued cryptocurrencies.”

Hougan explained that Chainlink enables isolated systems like blockchains to interact with markets, institutions, and other blockchains.

Hougan stated that stablecoins rely on Chainlink for price flows, Proof of Reserves (PoR), and cross-chain transfers, while tokenized stocks and bonds require Chainlink for regulatory compliance and payment logic.

Hougan added that DeFi applications, prediction markets, and on-chain derivatives also rely on Chainlink technology. Consequently, Hougan noted that numerous institutions, including SWIFT, DTCC, JPMorgan, Visa, Mastercard, and Fidelity, use Chainlink technology.