According to the BitMex crypto asset exchange platform, numerous details and important points have been shared about the BTC Lightning Network. Looking from the outside, it might seem that the participants of the network are more dynamic than they actually are. However, if you look at the Network more deeply, the state of the Bitcoin Lightning Network is more delicate.

Based on the data, most of the activity on the Bitcoin Lightning Network was invented by certain channels within the system. As stated by BitMex currently there are around 60 thousand such channel closures and more than 100 Bitcoins were used for these transfers. It is true that based on these number the level of activity on the Bitcoin Lightning Network is very high, especially considering that this still doesn’t show the full picture. However, when we consider the members of the channels that left and received their previous funds, the picture slightly changes. During analysis, these channels are often overlooked in favor of currently open and public ones.

Yet, when we consider these channel closures we also get a look at private channels. At the same time, the findings of the analysis are not 100 percent accurate and should be taken with a healthy amount of skepticism. The definite number of channels in the Bitcoin Lightning Network is still unclear. This is the exact reason why the BitMex report also mentioned and gave statistics on the channel closures. According to the lower estimate, there have been over 59,500 transfers with more than 1,000 BTC coins as well as almost 10,000 transactions and over 1,400 BTC spendings based on upper estimates.

The volume on the Bitcoin Lightning Network is pretty high and demonstrates that more people are trying out the technology than we might think at first glance.

 

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