Glassnode: Twitter and El Salvador Accelerate Lightning Network Development

The addition of Twitter capability to accept donations in cryptocurrency and El Salvador’s legalization of Bitcoin led to unprecedented dynamics in the Lightning Network (LN) protocol metrics. Analysts from Glassnode shared their observations.

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During a volatile week, #Bitcoin investors have had their conviction tested.

This week, we assess both bullish and bearish indicators for the current market structure, and deep dive into our new Lightning Network metrics⚡️

Read more in The Week Onchainhttps://t.co/HXnEIluSKF

— glassnode (@glassnode) September 27, 2021

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The number of LN nodes in operation reached a record high of 15,600.

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The number of LN channels reached a peak of 73,000, averaging 4.6 per node. From 2019 to 2020 the figure was nearly half that. The peak growth occurred in May 2021.

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Total LN capacity since the start of the year rose by 170% to 2,904 BTC (~$127 million). In September, the metric increased by 514 BTC.

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Average throughput rose from around 0.028 BTC during 2019–2020 to 0.040 BTC. Analysts attributed this to rising adoption and trust in the protocol.

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In recent months, LN integrated Bitcoin exchange OKEx and P2P platform Paxful.

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Billionaire and well-known Bitcoin advocate Salinas Pliego also announced support for a second‑layer solution in his chain of electronics stores in Latin America.

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