Matt Hougan, CIO of Bitwise, has labeled Chainlink (LINK) as one of the most undervalued crypto assets, citing its critical role in the blockchain ecosystem. Despite the recent launch of Bitwise's Chainlink ETP, Hougan noted that it hasn't received the same investor enthusiasm as Bitcoin ETPs, attributing this to a lack of understanding of LINK's comprehensive utility beyond being a data oracle. Hougan emphasized Chainlink's dominance in blockchain infrastructure services, with market shares ranging from 50% to nearly 100% in various sectors. He highlighted its importance in stablecoins, DeFi, and tokenization, supported by adoption from major institutions like JPMorgan and Visa. Despite recent price volatility, large LINK holders have been accumulating the token, suggesting confidence in its long-term value.