A new research study has partly attributed the growth in the use of bitcoin “as a transactional layer” to the increased number of crypto platforms that have joined the Lightning Network ecosystem. The study however found that just over 6% of centralized crypto exchanges have integrated the layer 2 protocol with their respective platforms.
Record Increase in Bitcoin’s Quarterly Transactions
According to the findings of new market research conducted by Kaminari, the use of bitcoin “as a transactional layer” has grown steadily in the past few years. The research points to the 40 million transactions settled in Q3 of 2023 as evidence.
Kaminari’s findings report that the introduction and growing adoption of the Lightning Network (LN) by crypto exchanges and other platforms is one of the reasons behind the crypto asset’s record increase in quarterly transactions. The market research data indicates that the number of companies in the LN ecosystem has grown from 94 in October 202
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