Coinbase, a leading US-based crypto exchange, announced on April 30, 2024, the integration of the Lightning Network to facilitate faster and more economical bitcoin transactions.

The Lightning Network is a Layer 2 protocol that operates on top of the Bitcoin blockchain, designed to address scalability issues by allowing bi-directional payment channels.

Coinbase users can now enjoy lower transaction fees, down to one satoshi, with an additional 0.1% processing fee for sends, and a significantly reduced processing time from hours to seconds.

The Lightning Network implementation comes with a $2,000 withdrawal cap at launch, implying a maximum charge of $2 for withdrawals using this service.

Coinbase's collaboration with Lightspark for Lightning Network infrastructure highlights its commitment to providing cutting-edge internet payment solutions.

Bitcoin's price movements are subject to market forces, with potential declines to $52,000 if the $59,930 support level breaks, or increases past $64,613 and $64,382 if market sentiment turns bullish.

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