- BTC Lightning Network Capacity hits an all-time high.
- Lightning Network also recently saw integration with Xapo bank.
Despite the recent spotlight on Bitcoin, Lightning Network, its Layer 2 alternative, is progressing. Taking a look at a few of its most important measures reveals its tremendous development and future potential.
Read Bitcoin [BTC] Price Prediction 2023-24
Lightning Network capacity
The total quantity of Bitcoin that can be exchanged across the network at any given time is referred to as the Bitcoin Lightning Network capacity.
The quantity of Bitcoin locked in each payment channel and the number of channels created on the Network determine its capacity. The capacity of a payment channel is the sum of the Bitcoin deposits made by both parties when the channel is created.Â
Source: Glassnode
On glassnode, the Lightning Network Capacity chart showed that there had been a noticeable upward trend over time. The fact that it reached its peak every year was another thing that could be seen. The network’s capacity had reached 5,200 as of this writing and was still rising.
Positive network position change and channels
A study of the Net Position change also revealed that it had been positive since December 2022. The Net Position Change was positive as of the time of this writing and stood at above 159.
More BTC flows into the channels are likely to help with network transaction settlement, as seen by the increased flow of BTC into the channels.
Source: Glassnode
The Bitcoin Lightning Network Mean Channel Capacity has increased over time, just like the network capacity. Nonetheless, the upward tendency has leveled out somewhat, while a very little increase was still discernible. The metric was approximately 0.073 as of the time of writing.
Source: Glassnode
– How much are 1,10,100 BTCs worth today?
It’s important to remember that the Network is still a young technology and has a smaller capacity than more established payment options like wire transfers or credit cards.
The Lightning Network’s bandwidth is anticipated to rapidly expand as more users adopt it and create payment channels. But even as it grows, mergers are already taking place.
International private bank Xapo bank officially announced cooperation with the Lightning Network infrastructure platform Lightspark on 2 March. This allowed the company to integrate Lightning on its platform.
