Countertrend Growth in the Bear Market
Against the backdrop of Bitcoin price fluctuations, on-chain payment networks and applications are experiencing technological iterations and user growth. The Lightning Network's capacity hit a new high, and multiple traditional payment giants began integrating Bitcoin payment channels. Institutional investors are not leaving; instead, they are quietly increasing positions through OTC trading and custody services.
Technological Breakthroughs in On-Chain Payments
SegWit and Taproot upgrades reduced transaction costs, and Layer 2 solutions made micropayments viable. Data from the second quarter of 2026 shows that the daily number of Bitcoin on-chain transactions increased 40% year-over-year, with payment-type transactions accounting for over 15%. Stablecoin issuance exceeded $180 billion, further improving on-chain settlement efficiency.
Institutional Adoption Accelerates
Asset management giants like BlackRock and Fidelity launched Bitcoin ETFs and trust products, with daily trading volume exceeding $2 billion. Mitsubishi UFJ Bank of Japan started a BTC-based cross-border remittance pilot, slashing settlement time from three days to 10 minutes. JPMorgan noted in a report that institutional clients' demand for crypto allocations remains on an upward trajectory.
The convergence of traditional finance and crypto is not an overnight phenomenon, but the improving on-chain payment infrastructure is laying the foundation for the next bull market. The gradual clarification of regulatory frameworks has also removed hurdles for institutional entry.