Payments made with Bitcoin Lightning Network are hitting new records!

As a top cryptocurrency payment processor, we're thrilled to share our latest insights into the usage of the Lightning Network for Bitcoin payments based on CoinGate payment gateway data from Q2 2024.

While Bitcoin payments overall saw a decrease of 5% compared to Q1 2024 and 34% compared to Q2 2023, the adoption of the Lightning Network (LN) has reached new heights:

• In Q2, 16.6% of BTC payments through CoinGate were processed by LN, setting a new record.
• June was a record month, with 18.5% of Bitcoin payments processed via LN.
• Compared to Q1'24, the LN payment count increased by 33%.

The trend clearly shows the growing preference for faster and more efficient transaction methods within the Bitcoin community.

Read the full quarterly review: https://coingate.com/blog/post/crypto-payments-report-h1-2024

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What are your thoughts on the increasing adoption of the Lightning Network? Have you used LN for your transactions?