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Lightning Network Capacity to Explode in Coming Months in the Light of Ongoing Trend

lightning-network-capacity-to-explode-in-coming-months-in-the-light-of-ongoing-trend

Key highlights:

  • Bitcoin Lightning Network capacity has crossed 563 BTC, over 2 Million at the current price
  • Litecoin Lightning Network capacity is up 128% in the past month
  • With the current trend, Lightning Network capacity could explode to $1 Billion in about 15 months

Bitcoin & Litecoin Lightning Network Capacity Already Surging

According to the data provided by the 1ML, the Bitcoin Lightning Network capacity has reached 563.98 BTC with a 12 percent increase in the past 30-days. At current Bitcoin price, this amounts to just above $2 million. The number of channels is seeing a surge of about 37 percent at 21,616 while the number of nodes has reached 5,614 with 17.79 percent increase in the past 30-days.

Meanwhile, the performance of Litecoin Lightning Network is already seeing an explosion with a surge of 128 percent in Litecoin capacity at 60.73 LTC that amounts to just about $2,000 at its current price. While the number of nodes at 124 is seeing an increase of 25 percent in the past month, with 79 percent surge, the number of channels are currently 524.

While the Bitcoin and Litecoin capacity on Lightning Network is already increasing, in the coming months it is expected to explode.

In the light of upcoming developments on the Lightning Network in terms of Neutrino, Submarine Swaps, Dual Funded Channels, Atomic Multi-Path Payments (AMP), Splicing, Wumbology, Sphinx-send, and Watchtowers that are in line for this year, 2019 is expected to be a progressive and interesting one.

Also, a Redditor shared an interesting post, “If the current trends continue, the lightning network will have a capacity of over $1B within the next 15 months.” However, the Redditor expects the public channels to be possibly more than what being advertised.

Recently, Bitrefill, a business that allows their customers to buy prepaid phone minutes, gift cards among other digital goods with cryptos has been working on building the infrastructure around Bitcoin Lightning Network.

“If someone’s looking to receive bitcoin, as tips or other earnings, this is a quick and easy tool to get started. Bitrefill’s node is a highly interconnected in the Lightning network,” reads the company’s announcement about Thor.

Bitrefill’s John Carvalho recently revealed that the Lightning Network now accounts for more payments than any of the altcoins that they accept. “It’s increasing every day almost,” said Carvalho and further added, “It’s actually double most of the altcoins.”

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