Basically, on the Bitcoin network, the ERC-721 standard allows you to “describe” individual satoshis with data known as ordinal numbers [Bitcoin NFTs]. Anyone still optimistic about what this can do for BTC adoption, this new discovery will spoil the original P2P digital cash when Bitcoin started, I don’t know but it’s pretty wild about the ordinals -Trends going on in the crypto and NFT space and its areas It’s great to see builders building amazing blockchain infrastructures.
Since the launch of this new meta weeks ago, Ordinals NFT transactions have been limited to OTC spreadsheet trading – due to an unavailability of the marketplace to process trades. Interesting, Mark Hendrickson of Hiro Wallet Project, announced on the microblogging platform Twitter that; “Hiro Wallet has started to provide support for Bitcoin and Ordinals for a truly cross-protocol Bitcoin Web3 experience.”
With the new bridge, extension users can send Bitcoin from their Hiro Wallet using the same Secret Key or Ledger device to manage their STX and other assets (like BNS names and NFTs) across accounts. Send to all bitcoin address types, with additional support for sending to BNS names coming soon.
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Users can view their BTC holdings as stored on the account’s native SegWit address under “Balance”. You can also copy this address under “Receive” and soon reveal taproot addresses for depositing ordinal inscriptions (more on that below!). All incoming and outgoing bitcoin transactions are displayed in the Activity tab alongside other Stacks activities such as contract executions and deployments. You can now access this Bitcoin functionality for testing by switching your network to “Testnet” with the latest version (v3.34.0) of the Hiro Wallet extension. Mainnet activation is expected soon later this week.
In the meantime, the fun is only beginning when we introduce full support for both Stacks-based NFTs and Ordinal Inscriptions. By connecting Hiro Wallet to apps like Gamma, you can pay for new inscriptions and deposit them directly into your account as a “collectible” marker.
The ordinal theory acc ChainLinks, an early proponent of the ordinal theory — is said to be tracing the origin of fungible sats on Bitcoin and assigning them a “non-fungible” value. It is up to the collectors to subscribe to this method and find value in it. Various methods of tracking provenance are not new to blockchain.
The counterparty (XCP) tracks origin through linked UTXOs in transactions.
Namecoin (NMC) tracks provenance using name tags.
Ethereum (ETH) tracks provenance through smart contracts
Ordinals are actually “sats”, not the images you see being shared around. Ordinal numbers could philosophically assign a “non-fungible” value to technically fungible satoshis (1/100th of a millionth of a $BTC). Here’s Alpha: I think those early sats will be very valuable going forward.
In another twist, a closely-followed crypto strategist predicts huge upside potential for an under-the-radar Ethereum (ETH) altcoin. Pseudonymous analyst Cantering Clark tells his 159,800 Twitter followers that he is eyeing Hashflow Token (HFT).
The last Tickerless chart I shared hit a 3x this week.
I patiently built a spot position in this position because the setup looks like it has quite a step ahead.
3 things in his favor.
-New coin and new chart effect.
-Not microcap but not overweight… https://t.co/twoHI0a91b pic.twitter.com/WODQXqA1Xl
— Clark (@CanteringClark) February 12, 2023
The last Tickerless chart I shared hit a 3x this week. I patiently built a spot position in this position because the setup looks like it has quite a step ahead. Three things in his favour.
New coin and new chart effect.
Not Microcap, but not already overweight.
Low unity distortion.
Despite initially sharing a tickerless chart, Cantering Clark eventually revealed the low-cap altcoin’s name on his radar. “This is not a microcap but smaller but be careful but HFT looks set to surge much higher before likely going into a long corrective reaccumulation period. I’m long.”
Hashflow is the ranked 262nd crypto asset with a market cap of $110.87 million. At the time of writing, HFT is trading at $0.62, up more than 20% over the past 24 hours. Looking at the analyst’s chart, he thinks HFT could go as high as $1.02. The blockchain project recently announced a roadmap for 2023 that includes plans to launch Hashverse, Hashflow’s gamified, Storyverse-driven decentralized autonomous organization (DAO), which allows users to stake tokens, complete quests, and non-fungible Earn tokens (NFTs).
Hashflow is built on the Ethereum network for interoperability, zero slippage, and miner extractable value (MEV) protected trades. Decentralized exchanges (DEXes) traditionally rely on automated market markers (AMMs) to enable on-demand trading of assets, but Hashflow uses a request-for-quote (RFQ) model that allows professional market makers to pool liquidity manage. Next, Cantering Clark says a key price range for bitcoin ($BTC) is around $22,200, where he notes the king crypto could either find resistance or momentum could break through it.
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