Bitcoin ($ BTC): Lightning Network’s average daily capacity reached an all-time high in June
Bitcoins Lightning Network, a layer-2 scaling solution designed to make $ BTC transactions as fast and as cheap as possible, reached, has seen its average daily capacity reach a new all-time high last month.
According to CryptoCompare’s latest Asset Report, while the price of Bitcoin fell 37.4% in June to end the month at $ 19,908, Lightning Network – which is its primary scaling solution – continued to see capacity grow to 3,962 BTC by the end of last month.
Total fees paid for BTC transactions fell 28.7% to $ 11.5 million, according to the report, with the average transaction fee falling from $ 2.01 in May to $ 1.54 last month. The price of cryptocurrency, in particular, has since risen to close to the $ 21,000 mark.
CryptoCompare’s report, which tracks price performance and chain values for five cryptocurrencies – Bitcoin, Ethereum, Cardano, XRP and Solana – noted that over the past three months, cryptocurrencies covered in the report lost half their value, with BTC as the best performer after losing 56.3% of the value, and Solana was hit the hardest, losing 72.5% of the value.
The report also describes that the total value locked in the Solana blockchain fell 37.3% last month to $ 2.5 billion, the lowest monthly shutdown of the network since July 2021. Per company, the decline was “mainly due to the falling price of SOL. ”
According to CryptoCompare, average daily volumes for BTC / USD fell 23% last month to $ 1.12 billion, with Binance and Coinbase as the two best exchanges. The average daily volatility rose from 14.8% in May to 20.3% in June.
As CryptoGlobe reported, data has shown that investors have pulled BTC from cryptocurrency exchanges to the “most aggressive exchange rate in history” when the total outflow of exchanges in June peaked at 151,000 BTC, worth over $ 3 billion.
These outflows come as Bitcoin has delivered its worst quarterly result in more than a decade, as in the second quarter of this year it lost around 58% of value, going from $ 45,524 to just under $ 19,000 at the end of the three-month period.
In addition, the number of active cryptocurrency users in Bank of America has fallen by more than 50% from the top below the height of the cryptocurrency bull market as cryptocurrency prices plummet and Bitcoin sets its worst quarter in more than a decade.
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Selected image via Pixabay
