Chainlink (LINK) Fans Make The Leap To HedgeUp (HDUP)

2022 was a harsh year for cryptocurrencies amid downturns like monetary tightening, rising interest rates and rising inflation. Discussions about stricter regulation exacerbated the situation. Chainlink (LINK) was one of the hardest-hit tokens going down by more than 60%. While the downturns are yet to subside, there is a sentiment shift to projects likely to offer broader exposure away from the highly volatile crypto sphere. HedgeUp (HDUP) is one project arousing interest as fans leap at it, away from Chainlink.

Chainlink Outlook
Chainlink rose to prominence on its push to link blockchain with the outside world. The projects serve as middleware between smart contracts platforms and external data sources. Its primary goal is to provide reliable and accurate real-world data to smart contract platforms.

For instance, Chainlink can help provide a smart contract with data and results from the financial markets, sports and even weather. It is widely expected that Chainlink will be of great use as blockchain technology becomes widely adopted by global businesses.

While Chainlink remains the king of oracle networks in connecting blockchain to the outside world, it faces stiff competition. Its biggest competitors are Band Protocol, UMA Next Protocol and API3. Most of the alternatives have use cases beyond the blockchain world. They have also partnered with loads and loads of different cryptos. The alternatives might explain why Chainlink has remained under pressure even as the broad cryptocurrency industry shows signs of bottoming out.

HedgeUp Growth Prospects
In contrast, HedgeUp is an emerging crypto project that promises exposure to the $17 trillion market opportunity. The heightened volatility associated with crypto projects like Chainlink is already fueling demand for relatively stable assets with tremendous potential upside.

HedgeUp has moved to address this need by leveraging blockchain technology to offer a platform allowing people to invest in alternative products. The first-of-its-kind Alternative investment platform within the cryptocurrency sphere to provide users access to a wide range of products. Its ultimate goal is to bridge the gap between traditional and cryptocurrency assets.

The alternative investment platform will allow investors to invest in products like Wine, Diamond, Aviation, Fine Art, Gold and Luxury watches. HedgeUp has also partnered with high-end startups to facilitate users' entry into the market. It also plans to bring all major alternative asset classes to provide a way for investors to diversify their investment portfolio.

HDUP Token
The platform's buying and selling of alternative products is to be facilitated by the network's native token, HDUP. It will act as a medium of exchange to facilitate settling transaction fees. The assets are also stored in a licensed and insured vault.

Additionally, HedgeUp is to provide users with a way of gaining exposure to non-fungible tokens, another market with tremendous potential. The barriers to entry have been a big problem in the booming sector. Consequently, HedgeUp provides a way for people to own a piece of NFTs without paying the full amount.

With the help of fractional stakes, people can invest a small amount, from $1, to get exposure to whichever NFT they wish. HedgeUp will also launch an NFT marketplace that will enable the buying and selling of NFTs. HDUP is to facilitate the buying ND selling of NFTs on the marketplaces.

In addition to investing in alternative products and NFTs, HDUP token holders also stand to earn some passive income by staking their tokens. Staking the HDUP tokens should help secure the network while boosting liquidity levels. In return, token holders who stake their tokens are to earn some income from fees generated on all transactions on the HedgeUp ecosystem.

HDUP value is also expected to continue increasing, given the deflationary nature of the underlying token. However, the total number of HDUP tokens that will ever be in circulation is capped at 999M to ensure it never gets inflated.

Bottom Line
Chainlink fans leaping to HedgeUp does not come as a surprise. The alternative investment project has tremendous opportunities for growth and upside potential. As investors look to diversify their portfolio from riskier assets, HedgeUp should be the go-to platform.

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