Bitcoin (BTC) – Lightning Network’s Capabilities Continue to Hit All-Time Highs

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:

Lightning Network adoption

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

Newsletter 🍞

Receive a recap of crypto news every Sunday 👌 And that’s it.

What to know about affiliate links. This page presents assets, products or services relating to investments. Some links in this article are affiliate. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be held responsible, directly or indirectly, for any damage or loss caused as a result of the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and invest only within the limits of their financial capacity. This article does not constitute investment advice.

About the author: Marine Debelloir

twitter-soothsayerdatatwitter-soothsayerdata

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.

Back to top button