VANCOUVER, BC, March 7, 2024 /CNW/ - LQWD Technologies Corp., (TSXV: LQWD) (OTC: LQWDF) a leading infrastructure and liquidity provider for the Bitcoin Lightning Network, as well as a holder of Bitcoin as an operational asset, announces a new record of 38,481 routing transactions for the month of February 2024.
Total routing transactions now exceeds 380,000 since inception of LQWD's first node in November 2021, routing over 500 Bitcoin. LQWD's global node network has now established well over 1000 channels with the top performing node in Canada and a growing presence and channel growth in Indonesia, France, Sweden, Italy, Germany and Singapore.
Routing transaction volume is consistently achieving month-over-month highs. With the implementation of a sophisticated AI channel rebalancing system in August 2023, average daily routing volume has increased dramatically by approximately 300% and climbing. This trend has continued through the first week of March, with an average over 2,200 routed transactions per day.
Shone Anstey, CEO of LQWD Technologies Corp. commented. "We continue to expand our presence on the Lightning Network in a very significant way and gaining market share on this explosive network. Moreover, as the price of Bitcoin increases so does our asset value as well as the barrier of entry to replicate LQWD's business."
For more details, check out LQWD's corporate presentation, and stay updated on Lightning Network node growth or connect to the Company's nodes in real time.
Bitcoin Lightning Network is a payment layer for the internet. LN leverages the power of Bitcoin's supreme trust protocol, which facilitates instant peer-to-peer transaction faster than any other payment rail. It is reported that LN activity has increased by 1200% over the past two years with participants such as MicroStrategy (MSTR) driving adoption and developing enterprise grade LN tools for business, taking advantage of the unmatched capability of the network.
Most recently, LN announced the integration of stable coin transaction capability, which opens LN to a much wider user base. Furthermore, many of the world's top cryptocurrency exchanges are integrating LN into their platforms as well as forward-thinking global business as LN transacts dramatically faster and cheaper than current payment rails such as Visa and Mastercard.
LQWD is a Bitcoin Lightning Network Liquidity Provider focused on developing payment infrastructure and solutions accelerating the global mega trend of Bitcoin adoption through the Lightning Network. LQWD also owns Bitcoin that is used as an operating asset establishing nodes and payment channels on the Lightning Network.
Website: www.lqwdtech.com
Twitter: @LQWDTech
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to the Company's business plans and the outlook of the Company's industry. Although the Company believes, considering the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE LQWD Technologies Corp.
Ashley Garnot, Director, Phone: 1.604.669.0912, Email: [email protected]
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