Bitcoin Lightning Network Capacity Reaches All-Time High – May 30

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $30,615

Bitcoin price has broken back through the elusive $30,000 mark overnight, currently holding strong at $30,600 to begin the week.

Top-20 altcoins have recovered strongly over the last 24 hours, as Ethereum gains 6%, BNB rises 3% and Cardano surges a significant 13%.

Top Stories for May 30, 2022 πŸ”₯

πŸ‘‰ Bitcoin Lightning Network Capacity Reaches All-Time High

Bitcoin scaling solution, the Lightning Network, has reached a new all-time high in capacity of more than 3900 BTC, according to data from Bitcoin Visuals.

The Layer-2 network was first implemented in 2018 to improve transaction times and lower fees. It has since been adopted by several Bitcoin-based platforms and services, including a recent re-implementation by payments company Stripe.

πŸ‘‰ India To Finalize Consultation Paper Following Meetings With IMF, World Bank

India is currently finalizing a consultation paper on cryptocurrency following meetings with the World Bank and the International Monetary Fund (IMF), as well as domestic and institutional stakeholders.

The paper may influence the country’s cryptocurrency legislation, which has not yet been presented to parliament. India recently implemented a 30% crypto capital gains tax, with an additional 1% tax to be implemented on all buy or sell transactions in July.

πŸ‘‰ Korean Prosecutors Launch Official Terra Investigation, Summon All TFL Staff

Prosecutors in South Korea have launched an official investigation into the TerraUSD (UST) crash, reportedly summoning all employees of Terraform Labs – the company behind the Terra blockchain.

According to a report by JTBC, prosecutors are examining the entire matter, whether executives neglected design flaws and whether cryptocurrency exchanges performed sufficient due diligence.