Over the years, the Bitcoin Lightning Network has grown very well, and according to recent data, the capacity of the layer 2 payment solution has surpassed the 5,000 BTC benchmark.

In September 2021, the Bitcoin Lightning Network went parabolic and reached an all-time high of 2,738, and in October of the same year it hit a new all-time high of 3,000 BTC for the first time.

Fast forward to October, the Lightning rework has now crossed the 5,000 BTC benchmark, meaning the layer 2 payments solution increased by an additional 2k BTC in 1 year.

According to data from lookintobitcoin, this data shows how the capacity of the layer 2 payment solution has grown over the years since 2018, when it was first created.

As illustrated above, the capacity increase began in the middle of this year despite the drop in the price of Bitcoin. It shows that regardless of the Bitcoin price plummeting, the lightning network amplified its growth, increasing its adoption.

Lightning Network is a layer 2 payment solution created to facilitate Bitcoin transactions. It allows users to send or receive BTC at lower rates and faster. Greater capacity in the network results in an increase in liquidity.

John Carvalho, CEO of Synonym, tweeted about this landmark and said that a “lightning fairy tale” has become “reality”. He pointed to another fad that states that more than 20% of the bitcoin lightning network capacity is represented by Bitfinex. It has more than 1000 BTC in more than 2000 channels.

Additionally, last month, Strike, a leading digital payment platform based on Bitcoin’s Lightning Network, announced that it secured $80 million in funding to power instant Bitcoin payments.

Also, last week, Michael Saylor’s MicroStrategy revealed that it is looking to hire a Bitcoin Lightning software engineer to build a SaaS platform based on the Lightning Network. The software company also revealed that it was working on solutions to attract large numbers of people to the Lightning Network.

Image Source: Shutterstock