On June 6, the capacity of Bitcoin's Lightning Network (LN) set a new ATH. Data from Glassnode shows that this metric surpassed 3.970. Capacity indicates the overall amount of BTCs locked in the network.
Launched in 2018, Lightning operates on top of the BTC blockchain and enhances its scalability. It enables making instant Bitcoin transactions at a low cost. Thus, the solution aims to boost Bitcoin's use as a means of payment.
LN has been evolving fast. It is widely used in El Salvador, as Bitcoin is a legal tender there. Various blockchain and crypto projects use the network to enhance the efficiency of BTC operations. In April the cryptocurrency exchange Kraken revealed integration with LN. Earlier, the blockchain data platform Chainanlysis added support for the solution.
Currently, Bitcoin trades at around $29,500. Although the price continues being around 57% down from its all-time high of $68,700, the growth of LN is indicating the increased activity and demand for BTC transactions.