In August 2023, the growth of routed transactions in the micropayment network Lightning Network (LN) compared to the value of two years ago was 1212% – from 503 thousand to 6.6 million – which cannot but be “shocking”. River Financial came to this conclusion.
The real numbers may be higher, experts explained.
To confirm the presented values, experts simulated the results several times.
“Despite LN locking only 5,000 BTC, coupled with the ongoing bear market, the network is making a lot of progress.” – the document says.
The volume of value transferred has also increased significantly. As of August 2023, the values were $78.8 million and 2950 BTC versus $12.1 million and 303 BTC two years earlier (an increase of 546% and 874%, respectively).
According to analysts, gaming applications have had a huge impact on the network’s growth rate. Hundreds of thousands of people use LN for these purposes every month.
Let us remind you that in July, Binance completed the implementation of the Lightning Network for depositing and withdrawing funds.
In addition to Binance, the micropayment network has already been implemented by Bitfinex, Kraken, River Financial, OKX and CoinCorner.
Previously, Coinbase CEO Brian Armstrong promised to integrate the Lightning Network “in some capacity.”
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