The Level 2 Bitcoin Lightning Network solution continues to evolve – the total number of BTC blocked in it has exceeded 3,500.
The rapid growth of Lightning Network capacity began in the first months of 2021 and continued until the end of November. During that time, the number of Bitcoins in the solution channels increased from 1,050 BTC to 3,250 BTC. After November, Lightning Network capacity growth slowed, but in the last month the network began to grow more actively. For the first time in history, Lightning Network’s capacity exceeded 3,500 BTC.
It should be noted that the “capitalization” of Lightning Network is still far from the record. Last November, the value of bitcoins blocked in the solution reached $215 million. Now the figure is only $147 million. Of course, this figure depends on the Bitcoin exchange rate, which reached historic highs in November last year, but since then has declined significantly.
Despite this, the development of the Lightning Network continues quite steadily. So, at the beginning of November, the network’s capacity exceeded 3,400 BTC.