Retail is pushing the Bitcoin price up, says Ledger CEO

As crypto prices retrieve aft a slump past week, Pascal Gauthier, CEO of crypto wallet steadfast Ledger, addressed questions relating to the authorities of the crypto market.

In an interview taken by CNBC astatine the Crypto Finance Conference successful St Moritz, Switzerland, Gauthier said the concern panning retired with Bitcoin (BTC) comes arsenic nary surprise. The retail inclination is salient and it’s “always the same.” He explained:

“The fig of addresses with the minimum fig of BTC is really increasing compared to the fig of whales. There is simply a profound retail inclination everyplace successful the world; they spot Bitcoin much and more. It’s the radical that volition propulsion the terms up.” 

Recent information from on-chain marketplace quality supplier Glassnode supports the claim. The fig of BTC addresses with a non-zero equilibrium is astatine all-time highs, topping retired conscionable abbreviated of 40 million. 

Source: Twitter

An insightful metric, the non-zero equilibrium fig offers a sitrep of Bitcoin adoption. More addresses infer much users are entering the Bitcoin network, a telltale motion that retail is connected the march.

Related: Bitcoin wallet addresses created successful November inched toward 1 million

On altcoins, Gauthier supplied a enactment of consternation astir projects that person precocious outperformed Bitcoin. He suggested that this twelvemonth could beryllium a twelvemonth of consolidation for immoderate cryptocurrencies:

“Last twelvemonth they (cryptocurrencies) were projects coming into the light; this twelvemonth they person to present successful presumption of applications moving connected apical of these protocols.”

Gauthier said that Solana (SOL) has a bully worth proposition for nonfungible toekns, and is successful a bully spot to vie with Ether (ETH). While immoderate of the apical 10 protocols enjoyed chaotic terms speculation and terms increases successful 2021, the marketplace anticipates “good things from these protocols.”

He concluded with a steadfast regularisation for blockchains: “The token of a blockchain is the information of that blockchain. The much costly the token, the much unafraid the blockchain.”

Ledger hardware wallet presently supports implicit 50 antithetic protocols. France's archetypal crypto unicorn, Leger will launch a crypto debit paper over the adjacent 3 months. It volition undoubtedly pat into its crypto acquisition successful bid to vie with the likes of Mastercard, who are besides introducing crypto-linked cards.