Value of tokenized Bitcoin on Avalanche has surpassed Lightning Network capacity.

The total value of wrapped Bitcoin on Avalanche has surpassed the Lightning Network’s micropayment network capacity (LN).

According to on-chain data, a total of 5,680 BTC.b has been issued, worth about $118 million.

For comparison, the capacity of the Lightning Network is 5,221.84 BTC ($108.4 million).

There are 16,043 LN nodes, connected by 75,803 payment channels.

“Yesterday marked a fairly significant milestone for the asset, whose total supply on the Avalanche network surpassed 5,700 coins. In just a few months the metric has exceeded the current capacity of the Lightning Network,” — wrote in his Ava Labs blog.

The Avalanche team added the ability to transfer the primary cryptocurrency into its tokenized analogue — BTC.b — in June 2022. This step is meant to make the asset accessible in DeFi applications.

The Ethereum platform remains the leader in the number of tokenized Bitcoins (222 788). The perennial leader of the segment is Wrapped Bitcoin (WBTC), whose market capitalization stands at $3.74 billion.

Earlier, Ava Labs entered into a partnership with Amazon Web Services. This positively affected the price of AVAX.

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