Cryptocurrency exchange Kraken has announced the suspension of Lightning Network support for its users in Germany due to technical modifications.
Suspension of Lightning Network
Cryptocurrency exchange Kraken has suspended the Lightning Network service for its users in Germany owing to technical modifications. The suspension was initially attributed to regulatory concerns by a Kraken support representative.
Reasons for Changes
A spokeswoman for the San Francisco-based firm emphasized that Kraken Support had erroneously identified these modifications as the cause for the suspension. The Lightning Network is a 'second layer' application for Bitcoin that facilitates expedited transactions and enables minor purchases using the cryptocurrency. Other prominent crypto exchanges, including Coinbase, also include Lightning integration.
Current Bitcoin Price
The current Bitcoin price is $58,410.23 USD, with a 24-hour trading volume of $21,379,075,311 USD, reflecting a 3.02% decline in value over the past 24 hours.
The implementation of technical modifications has led to the temporary suspension of Lightning Network on Kraken's platform in Germany. Amidst these changes and other factors, the price of Bitcoin continues to fluctuate.
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