- Cash App integrates the Bitcoin Lightning Network.
- This offers faster Bitcoin payments and transactions for Cash App users.
- The price of Bitcoin (BTC) briefly surged within 24 hours of the announcement.
The popular mobile payment service — Cash App is happy to announce the integration of Bitcoin lighting payments on its platform. Since the announcement, the value of Bitcoin (BTC) surged by 1.3% in the last 24 hours.
In particular, Cash App allows its users to buy, send, hold, sell, and receive Bitcoin (BTC). Thus, with this Lighting Network integration, users on the platform will enjoy faster Bitcoin transactions.
In fact, Bitcoin Archive classifies this news as ‘breaking’. Indeed, the layer 2 scaling solution solves a major concern for the Bitcoin network.
Likewise, from the unanimous positive comments that follow the tweet, we can see that both the Lightning Network and Cash App are popular within the Bitcoin and crypto community as a whole.
Presently, Cash App is available only in the US and the UK. In detail, Cash App confirmed its 70 million annual transacting users in September 2021. More so, the brand says the platform saw $1.8 billion in gross profit.
From the comments in the tweet above, one laments over the fact that the app is only available in the US and the UK. Besides this, most comments shout out to Bitcoin and hope for another wild surge to its value.
According to CoinGecko analytics, the price of Bitcoin (BTC) went from $42,160 to $43,223. This was a short surge between 24 hours of the integration news. Currently, the price of Bitcoin is $42,696.
As the crypto community waits patiently for another crypto recovery, the crypto market seems to be in a hush. Still, with exciting new updates such as Cash App’s integration with the Lighting Network for faster Bitcoin transactions, there’s likely room for unexpected surprises.
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