Ledger, the manufacturer of Bitcoin hardware wallets, is responsible for the price increase of individual coins. The company has been touted as a key player in allowing non-technical users to easily buy and sell cryptocurrency on exchanges. Other manufacturers have also recently released new products that make it easier to use blockchain technology outside of digital currencies like Ethereum.
The “has bitcoin stabilized” is a question posed by Ledger’s CEO. He believes that retail is pushing up Bitcoin price and says it has not been stable for a long time.
Pascal Gauthier, CEO of crypto wallet company Ledger, responded to questions about the state of the cryptocurrency market as prices for cryptocurrencies rose after falling last week.
The way things are going with Bitcoin (BTC) is not surprising, according to Gauthier, who spoke with CNBC at the Crypto Finance Conference in St. Moritz, Switzerland. There is a noticeable shopping pattern that is “always the same”. He clarified:
In contrast to the number of whales, the number of addresses with the least BTC is increasing. All over the world, there is a significant retail trend where people are increasingly relying on Bitcoin. The price will go up because of the people.
The claim is supported by recent data from on-chain market intelligence provider Glassnode. Peaking at just under 40 million, the number of BTC addresses with a non-zero balance is at an all-time high.
Twitter, a resource
The Non-Zero Balance, an astute statistic, provides a situational analysis of Bitcoin’s adoption. More addresses suggest that more people are joining the Bitcoin network, which is clear evidence that retail is gaining ground.
Related: Number of New Bitcoin Wallet Addresses Reached One Million in November
As for alternative currencies, Gauthier expressed concern about initiatives that recently outperformed Bitcoin. He predicted that several cryptocurrencies would see consolidation this year:
“She [cryptocurrencies] should produce this year in terms of apps that use these protocols; last year it was initiatives that came out of the shadows.”
According to Gauthier, Solana (SOL) is well positioned to compete with Ether and has a strong value proposition for non-replaceable currencies (ETH). The market expects “excellent things from these protocols,” even though several of the top 10 protocols had wild price speculation and price hikes in 2021.
“The token of a blockchain is the security of that blockchain,” he said in his closing statement. The blockchain is more secure the more expensive the token is.
More than 50 different protocols are now supported by the Ledger hardware wallet. Ledger, the first unicorn in the crypto space in France, is set to introduce a crypto debit card within the next three months. To compete with companies like Mastercard, which also release crypto-linked cards, it will certainly draw on its cryptocurrency expertise.
The “bitcoin is stabilizing, get ready for its next big price move” is a statement from the CEO of Ledger, a company that produces hardware wallets. He believes that retail investors are pushing up the price of Bitcoin.
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