The Bitcoin Lightning Network is a beacon of innovation in the crypto market. Yet, despite its growing popularity and the dramatic surge in users – now over 328 million – only a small fraction of crypto exchanges have adopted this technology.

While Lightning Network’s adoption journey faces challenges, it has the potential for broader acceptance in the crypto industry.

Bitcoin Lightning Network’s Limited Adoption by Crypto Exchanges

A report from leading Bitcoin infrastructure company Kaminari reveals that Lightning Network’s user base will grow significantly in 2024. Major exchanges like Binance and OKX have embraced this technology, contributing to its widespread accessibility.

However, market data reveals that out of 224 active centralized crypto exchanges, only 14 have integrated the Lightning Network.

“Cryptocurrency exchanges are the most widely used applications in the crypto ecosystem. Binance alone has 150 million users as of August 2023. OKX has 50 million, also worth mentioning is Bitstamp, with 5 million users. [Still,] only 6% of crypto exchanges currently use the Lightning Network to conduct transactions with Bitcoin,” analysts at Kaminari affirmed.

Go to Source to See Full Article
Author: Bary Rahma

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details