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Coinbase Looks to Add Bitcoin Lightning for Payments
The move is part of the exchange's broader plan to improve cryptocurrency-based payments globally.
Updated Aug 2, 2023, 6:32 a.m. Published Aug 2, 2023, 6:25 a.m.
Coinbase (COIN) is looking to add Bitcoin's Lightning network for payments as part of a broader plan to offer more cryptocurrency payments to users around the world.
“We’re looking into how to best add Lightning. It’s non-trivial, but I think worth doing. I’m all for payments taking off in Bitcoin,” CEO Brian Armstrong said on Wednesday. “Let’s build it together,” he added in response to a tweet by Jack Dorsey, founder of financial services company Block Inc.
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The Lightning Network is a second layer for that uses micropayment channels between software providers called nodes to speed up payments on the Bitcoin blockchain for a low cost.
These channels allow two parties to lock up on-chain funds. It decreases network congestion by conducting several transactions separately and by then bundling every transaction into one when submitting to the main blockchain.
As of Wednesday, the Lightning network’s total capacity – or the total amount of bitcoin locked for payments across all channels – is 4,686.64 bitcoin, worth just over $138 million at current prices.
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
What to know:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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