Lightning Network Continues to Be Adopted by Users
This is a report from the analysis firm Arcane Research which points to the growing adoption of the scalability solution. It shows that the liquidity of the Lightning Network has now reached 3,225 bitcoins. This corresponds to $ 192 million at the current price. The progression has been parabolic for a few months:
Growth in Lightning Network capacity over the year 2021 – Source: Arcane Research
According to Arcane Research, the Lightning Network is turning a corner in terms of adoption, thanks to companies integrating it into their future strategies:
“We’re approaching a tipping point, more and more manufacturers are coming in and bringing new products to market that take advantage of Lightning. “
👉 More info – What is the Lightning Network?
El Salvador as an adoption factor
As the report notes, the Lightning Network’s liquidity has also jumped since El Salvador made Bitcoin legal tender. Nayib Bukele’s government has indeed chosen to rely on the scalability solution in order to be able to offer a country-wide transaction system.
In total, 834 bitcoins ($ 49 million at the current rate) have arrived on the Lightning Network since September, when El Salvador became a “crypto-nation”.
👉 To read – El Salvador plans to build 20 schools thanks to the profits generated by Bitcoin (BTC)
The Lightning Network is becoming essential?
Among the “big” projects that make use of the Lightning Network, we can of course also mention Twitter. The social network added BTC tip options, which rely on the scalability solution.
The result of these advances is that another Arcane Research report, released last month, estimated that the Lightning Network could reach 700 million users by 2030. Beyond Network Liquidity , the payment volume has exploded since last September. It is therefore definitely a project to watch in the months and years to come.
👉 On the same subject – NYDIG acquires Bottlepay for $ 300 million, a startup specializing in payment via Lightning Network
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About the author: Marine Debelloir
Deputy Editor-in-Chief on Cryptoast, I fell into the pot of cryptocurrencies a few years ago. I am passionate about the innovative technologies that arise from the blockchain and I like to find the most delicious information to share with you.
All articles by Marine Debelloir.