While everyone is focused on Bitcoin dropping to $63K something happened last week that nobody talked about
The Lightning Network crossed $1 billion in monthly transaction volume for the first time ever
$1.17 billion across 5.2 million transactions in November
And the average transaction size nearly doubled year over year from $118 to $223 which means this isn't just micropayment experimentation anymore
Businesses are using it
Exchanges are moving real money through it
Bitcoin's price is down 50% from its high and its actual usage as a payment network just hit an all time record
I find it genuinely remarkable that these two things can be true simultaneously and I find it even more remarkable that almost nobody is talking about the second one because it doesn't fit the obituary everyone is busy writing
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While everyone is focused on Bitcoin dropping to $63K something happened last week that nobody talked about
The Lightning Network crossed $1 billion in monthly transaction volume for the first time ever
$1.17 billion across 5.2 million transactions in November
And the average transaction size nearly doubled year over year from $118 to $223 which means this isn't just micropayment experimentation anymore
Businesses are using it
Exchanges are moving real money through it
Bitcoin's price is down 50% from its high and its actual usage as a payment network just hit an all time record
I find it genuinely remarkable that these two things can be true simultaneously and I find it even more remarkable that almost nobody is talking about the second one because it doesn't fit the obituary everyone is busy writing