The Lightning Network, Bitcoin’s Layer 2 payment protocol, has reached a record-high Bitcoin capacity, demonstrating its growth and adoption. The network achieved over 5,500 BTC locked in payment channels, surpassing the previous peak in April. In addition, the network’s US Dollar capacity also reached an all-time high of over $172 million. The Lightning Network’s capacity has grown 42% in Bitcoin terms and 105% in US Dollar terms over the past year, highlighting its acceptance and utilization in the crypto world. CEO David Marcus of Lightning Network firm Lightspark emphasized the importance of expanding the network’s infrastructure and capacity to enable larger payments and create a low-cost settlement network for enterprises. The success of the Lightning Network signifies the increasing demand for fast, cost-effective, and scalable Bitcoin transactions.
In other news, Bitcoin has rebounded from previous losses following the SEC lawsuit against Binance and Coinbase. Despite a 1.1% drop in the past 24 hours, Bitcoin’s trading price remains above $30,000. Over the past week, more than $70 billion has been added to Bitcoin’s market cap, with the asset’s market capitalization surpassing $580 billion.
Continue reading on newsbtc.com
By
By
By
By
By