Bitcoin Lightning Network capacity hits all-time high
PANews reported on December 18th, citing Cointelegraph, that the Lightning Network, Bitcoin's Layer 2 network, has reached a new all-time high in capacity due to widespread adoption by major cryptocurrency exchanges and continuous functional optimization. Data from Bitcoin Visuals shows that on Monday, the Lightning Network capacity reached 5,606 bitcoins, breaking the record set in March 2023. Analytics platform Amboss also reported that the Lightning Network capacity peaked on Tuesday at 5,637 bitcoins, worth approximately $490 million.
Data shows that after a year of declining capacity, the Lightning Network saw a surge in capacity in November and December, as more Bitcoin was added to the network, resulting in faster and lower-cost transactions. Currently, the number of Lightning Network nodes is 14,940, down from the peak of 20,700 in March 2022; while the number of channels between nodes is 48,678, also lower than the 2022 peak. The data indicates that while the amount of Bitcoin added to the Lightning Network is increasing, usage, measured by the number of nodes and channels, may not be growing accordingly.
You May Also Like
Trading time: Tonight, the US GDP and the upcoming non-farm data will become the market focus. Institutions are bullish on BTC to $120,000 in the second quarter.
ArtGis Finance Partners with MetaXR to Expand its DeFi Offerings in the Metaverse
