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Saturday, January 28, 2023

Bitcoin Lightning Network capacity crosses 3900 BTC marking a new ATH

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Unwithered by the continued bear market, Bitcoin’s (BTC) underlying structure continues to outperform itself — additional securing, decentralizing and rushing up the impenetrable peer-to-peer community. The identical holds true for the Bitcoin Lightning Network (LN).

The Bitcoin Lightning Network capacity attained an all-time excessive of 3915.776 BTC as evidenced by data from Bitcoin Visuals, displaying a dedication to the reason for enhancing BTC transaction speeds and decreasing charges over the layer-2 protocol.

Cumulative Bitcoin capacity throughout all channels. Source: BitcoinVisuals node

The Bitcoin LN was first applied into the Bitcoin mainnet in 2018 to handle Bitcoin’s notorious scalability points and has ever since been capable of keep an upward trajectory by way of increasing its capacity. 

The climb, nonetheless, noticed a non permanent disruption on April 18, when the LN capacity dropped by 7.7% — from 3687.051 to 3402.273 BTC in a matter of a week. Showcasing community resilience, the drop was accompanied by a fast restoration again to 3718.351 BTC by May 2.

Bitcoin Lightning Network statistics. Source: 1ml

Moreover, statistics data from 1ml reveals that each one different elements of the Bitcoin Lightning Network proceed to develop parallel to Bitcoin’s international adoption drive.

Related: Layer-2 adoption could spur the next crypto turning point

A Redditor’s data-driven prediction hints at a main disruption that may see the crypto business transfer away from bridging between L1 blockchains towards L2s. As defined by the OP:

“L2 adoption is happening now, even if it is slow and in bursts. Behind the scenes, L2’s are improving reliability, decreasing fees, and increasing accessibility. L2’s are still building and improving, and that’s fantastic.”

As Cointelegraph beforehand reported, L2 scaling options make the most of L1’s safety and course of a number of transactions into a single bundle.