Congestion Woes Ease on Bitcoin Network

05/14 16:05

The Bitcoin network has made progress in resolving its congestion issues, with the number of unconfirmed transactions dropping from over 500,000 on May 7 to 263,406 as of today. This is a significant improvement, with high-priority onchain fees sliding by 72.33% over the past 72 hours. However, the Lightning Network's capacity did not improve, with the number of BTC locked into the network dropping from 5,463 BTC on May 5 to 5,415 BTC on May 14. Roughly $1.28 million in value left the Lightning Network amid the transaction backlog chaos, and the number of unique channels decreased from 73,352 to 71,286.

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