Chainlink shone into the limelight as a revolutionary project poised to transform the transfer of real-world data to smart contracts. At its peak, it was seen as a game-changing blockchain project, given its prospects to enable many use cases across many industries. Fast forward, its prospects have dwindled, and its sentiments in the market have taken a significant hit. Its native LINK token is down by more than 70% for the year. Amid the implosion, HedgeUp is a new project that could offer an attractive investment opportunity heading into 2023.
Chainlink Woes
Chainlink’s edge and future depend on blockchain technology becoming widely adopted by global businesses. Its blockchain has the potential to link other blockchains, therefore, enhancing the transfer of data and information. For example, there has been a suggestion that it could provide a smart contract with data results for the financial markets, weather, and even sports results.
Nevertheless, Chainlink’s position as the number one provider of oracles services is at risk more than ever. It faces stiff competition from Cosmos-based Band Protocol, which has significantly partnered with other blockchains. In addition, Tellor TRB is another Ethereum-based oracle service, a worthy rival for Chainlink in terms of data points per block and better security parameters.
HedgeUp Market Opportunity
In contrast, HedgeUp offers better investment opportunities heading into 2023 partly because it is poised to tap into a market poised to be worth $17 trillion by 2025. It plans to become the first alternative investment platform within the cryptocurrency sphere. By bringing awareness and simplicity within the alternative investment market, it hopes to provide easy access to a wide range of alternative products, initially a precept of wealthy investors.
HedgeUp has partnered with well-established and cutting-edge firms to offer investors an opportunity to invest in alternative products like private jets, fine art, wine, gold, diamond, and aviation. So, while Chainlink is down by more than 70% for the year, HedgeUp plans to offer an opportunity for people or earn an annual return of more than 28% at some of the lowest risks possible.
Consequently, it has unveiled a platform through which people will access and invest in alternative products. Its team of professional experts with over 30 years of experience within the alternative investment market will educate people on how to invest and maximize opportunities in this sector. The professionals will also educate people on how to invest in fractional stakes of high-flying non-fungible tokens.
HDUP is the native token through which people can buy and sell alternative products from the platform. The deflationary token will act as a medium of exchange and a means of settling transaction fees. In addition, HedgeUp plans to offer stacking capabilities that will allow people to lock in some of their HDUP tokens to help provide liquidity in the ecosystem. In return, the token holders will be rewarded through the fees generated in the ecosystem.
Additionally, it plans to partner with a major card processing company that will make it easy for people to convert crypto to fiat. The conversion will make it easy for people to spend their gains from the ecosystem.
Bottom Line
Amid the turmoil in the cryptocurrency, sector focus is increasingly shifting from well-established projects that have imploded amid the steep selloff in the crypto sector. Chainlink is one project that has come under pressure. HedgeUp, on the other hand, is a project on the ascendancy as a next-generation project poised to transform the way people invest in the alternative investment market.
For more information on HedgeUP click the links below:
Presale Sign Up: https://app.hedgeup.io/sign-up
Official Website: https://hedgeup.io
Community Links: https://linktr.ee/hedgeupofficial
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