Bitwise CIO calls Chainlink one of the most undervalued cryptocurrencies

Bitwise Chief Investment Officer (CIO) Matt Hougan has described Chainlink (LINK) as one of the most undervalued cryptocurrencies, CoinDesk reported. In a blog post, Hougan explained that Chainlink enables isolated systems like blockchains to interact with markets, institutions, and other blockchains. He highlighted that stablecoins rely on Chainlink for price feeds, Proof of Reserves (PoR), and cross-chain transfers, while tokenized stocks and bonds require it for regulatory compliance and settlement logic. Hougan added that DeFi applications, prediction markets, and on-chain derivatives also depend on the technology. He emphasized that numerous institutions, including SWIFT, the DTCC, JPMorgan, Visa, Mastercard, and Fidelity, are utilizing Chainlink's technology.