Bitcoin's Lightning Network saw a significant surge in transaction volume, reaching $1.1 billion in November, up from $286.5 million in the same period in 2024. This increase is attributed to larger transactions and the network's growing use by exchanges and businesses. Kraken recently facilitated a $1 million transaction, highlighting the network's capability to handle substantial transfers.
The Lightning Network, initially promoted for microtransactions, is now being used for larger settlements, with the average transaction size reaching 74,000 sats, equivalent to $50. The network's appeal is further enhanced by its low transaction costs and privacy features, making it a preferred choice over more expensive blockchains like Tron. Nearly 29% of Bitcoin transfers now utilize the Lightning Network, with major platforms like Coinbase routing a significant portion of their transactions through it.
Bitcoin Lightning Network Transaction Volume Hits $1.1 Billion in November
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
