Routed transactions on Bitcoin layer 2 Lightning Network increased over 1,200% in two years, according to a new report with an analyst suggesting Lightning is expanding irrespective of Bitcoin’s price.
A report from the Bitcoin-only exchange River suggests increased Lightning usage will play a key role in Bitcoin becoming a better medium of exchange.Bitcoin’s layer 2 Lightning Network has seen an estimated 1,212% growth in two years, with around 6.
from August 2021’s $12.1 million figure sourced by K33. Wouters noted that Lightning is now processing at least 47% of Bitcoin’s on-chain transactions. “This will be an interesting metric to monitor,” he added. “It is an indicator of Bitcoin becoming more of a medium of exchange.”Coinbase to integrate Bitcoin Lightning Network: CEO Brian Armstrong
River said the Lightning payments success rate was 99.7% on its platform in August 2023 across 308,000 transactions. The main reason for failure occurs when no payment route can be found that has enough liquidity to facilitate the transfer. River’s data set consisted of 2.5 million transactions. The nodes in River’s data set represent 29% of allMeet the guerilla artist who staged a crypto ‘rug pull’ in front of the SEC
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