Bitcoin Lightning Network Capacity Reaches 5,000 BTC

Bitcoin growth added to the Lightning Layer 2 Network has electrified over the past year, hitting 4,000 Bitcoin there less than four months old.< /p> New

Bear markets are all about building capacity on the Layer 2 Lightning Network. Despite macroeconomic headwinds and slow pricing, the Lightning Network, the Layer 2 payment solution for Bitcoin (BTC), continues to thrive .

The Bitcoin Lightning Network has reached a capacity of 5,000 BTC ($96 million). Indeed, more Bitcoin is being introduced into Lightning Network payment channels around the world as Bitcoiners continue to support the growth of the network.

Bitcoin Lightning Network Capacity. Source: Look in Bitcoin

The Lightning Network allows users to send Bitcoins (or satoshis, the smallest amount of a Bitcoin) to send or receive money more quickly and at lower cost. The more capacity there is on the network, the more liquidity there is available. As a result, users can benefit from faster payment speeds and potentially larger transaction volumes.

First created in 2018, the Lighting Network has recently come under fire. Bitcoin influencers such as Udi Wertheimer have discussed the “failure” of the network, saying no one is using the network. Nevertheless, the network reached a capacity of 4,000 BTC in June and over the past four years it has grown into a reliable payment network and is popular in El Salvador, Isle of Man and Gibraltar:

[embedded content]