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Bitcoinmagazine
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Bitcoin Tech Booms: Lightning Data Defies Digital Gold Narrative
- Bitcoin technology companies are showing significant adoption metrics, with Ego Death Capital's portfolio boasting $1.5 billion in Lightning-powered trading volume.
- Critics debate whether Bitcoin is fulfilling its role as a medium of exchange, citing factors like empty blocks and low transaction fees.
- However, data from various companies in the industry suggests a different narrative of success for the Lightning Network.
- Block, the parent company of Cash App, revealed a 9.7% yield from their Bitcoin Lightning node, highlighting growth in Bitcoin payments.
- Ego Death Capital's investments in Bitcoin infrastructure start-ups have been successful, with profitable companies like Breez, Relai, and LN Markets.
- Breez, a self-custodial Lightning-as-a-service provider, has driven adoption with over 40 apps using their SDK and $4.5 million in transaction volume in 2024.
- LN Markets, a Bitcoin-native derivatives trading platform, saw a significant increase in trading volume from $50 million to $1.5 billion monthly.
- Relai, a Swiss app, focuses on Bitcoin adoption in Europe, reaching 500 thousand app downloads and targeting $1 billion in trading volume in 2025.
- The Madeira Bitcoin project aims to establish a Bitcoin-native economy on the island, with over 250 companies accepting Lightning payments.
- Initiatives like Sovereign Engineering on Madeira attract developers and entrepreneurs, showcasing the island's potential for Bitcoin innovation.
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