Retail is pushing the Bitcoin price up, says Ledger CEO

As
crypto
prices
recover
after
a
slump
last
week, Pascal
Gauthier,
CEO
of
crypto
wallet
firm
Ledger, addressed
questions
relating
to
the
state
of
the
crypto
market.

In
an
interview
taken
by
CNBC
at
the
Crypto
Finance
Conference
in
St.
Moritz,
Switzerland,
Gauthier said the
situation
panning
out
with
Bitcoin
(BTC)
comes
as
no
surprise.
The
retail
trend
is
prominent
and
it’s
“always
the
same.”
He
explained:

“The
number
of
addresses
with
the
minimum
number
of
BTC
is
actually
growing
compared
to
the
number
of
whales.
There
is
a
profound
retail
trend
everywhere
in
the
world;
they
trust
Bitcoin
more
and
more.
It’s
the
people
that
will
push
the
price
up.” 

Recent
data
from
on-chain
market
intelligence
provider
Glassnode

supports

the
claim.
The
number
of
BTC
addresses
with
a
non-zero
balance
is
at
all-time
highs,
topping
out
just
short
of
40
million. 


Source:
Twitter

An
insightful
metric,
the
non-zero
balance
number
offers
a
situation
report
of
Bitcoin
adoption.
More
addresses
infer
more
users
are
entering
the
Bitcoin
network,
a
telltale
sign
that
retail
is
on
the
march.



Related:




Bitcoin
wallet
addresses
created
in
November
inched
toward
1
million

On
altcoins,
Gauthier
supplied
a
note
of
consternation
about
projects
that
have
recently
outperformed
Bitcoin.
He
suggested
that
this
year
could
be
a
year
of
consolidation
for
some
cryptocurrencies:

“Last
year
they
(cryptocurrencies)
were
projects
coming
into
the
light;
this
year,
they
have
to
deliver
in
terms
of
applications
running
on
top
of
these
protocols.”

Gauthier
said
that
Solana
(SOL)
has
a
good
value
proposition
for
nonfungible
tokens
and
is
in
a
good
place
to
compete
with
Ether
(ETH).
While
some
of
the
top
10
protocols
enjoyed
wild
price
speculation
and
price
increases
in
2021,
the
market
anticipates
“good
things
from
these
protocols.”

He
concluded
with
a
steadfast
rule
for
blockchains:
“The
token
of
a
blockchain
is
the
security
of
that
blockchain.
The
more
expensive
the
token,
the
more
secure
the
blockchain.”

Ledger
hardware
wallet
currently

supports

over
50
different
protocols.
France’s
first
crypto unicorn,
Ledger
will launch
a
crypto
debit
card

over
the
next
three
months
.
It
will
undoubtedly
tap
into
its
crypto
experience
in
order
to
compete
with
the
likes
of
Mastercard,
which is
also
introducing
crypto-linked
cards
.

read original article here