- Daily unique transactions on the Bitcoin network have seen a significant drop.
- Despite this fall, the reduction could provide an impetus for development.
- The Lightning Network promises to solve Bitcoin’s scaling problems.
Scalability issues remain the bane of most major blockchain networks, most recently, Bitcoin. The biggest crypto has seen a drop in network usage as it continues to struggle with network congestion.
On Thursday, May 18, the number of unique addresses performing transactions daily dropped to less than 800k. This marks a 22-month low for Bitcoin, the lowest level since July 2022.
However, this drop might not necessarily signal the decline of Bitcoin’s utility. As scaling solutions increase in popularity, Bitcoin’s Network could naturally see a drop in activity.
Lightning Could Ease Bitcoin’s Congestion Issues
The drop in unique daily transactions doesn’t account…
