Data from Bitcoin Visuals show that Bitcoin Lightning Network capacity has risen to an all-time high of 3915.776 despite a decline in the cryptocurrency sector.
The expansion in Bitcoin LN was disrupted on April 18, when it dropped 7.7% from 3687.051 to 3402.273 in a week but bounced back to 3718.351 BTC by May 2.
Bitcoin Lightning Network was launched in the network’s mainnet in 2018 and has gradually managed to expand capacity over the years. The layer-2 protocol aims to enhance transaction speed and reduce network speeds in the Bitcoin network.
A prediction from Reddit shows that the adoption of the Layer 2 solution is on the rise and could lead to major disruption as the industry moves away from the bridging solutions.
Bitcoin is currently trading at $30,611.59, a 5.13% increase in the past day and a 0.56% gain in the past seven days.
Source: BITCOIN VISUALS
