The Lightning Network Grew by 1,212% in Two Years

This is a published "state of Lightning" research report from River, a U.S. bitcoin financial-services company, written by analyst Sam Wouters.

It estimates Lightning activity growth of roughly 1,212% over the two years preceding publication, alongside figures on transaction frequency and USD volume, and maps an ecosystem of 173 companies across 28 categories. It is one of the more frequently referenced data points for Lightning adoption trends.

What makes it valuable as a source is also what makes it worth reading carefully: the report is explicit that there are no comprehensive public metrics for Lightning usage. Its numbers rely on indirect measurement and a sample of public network activity rather than complete data.

Treat it as a credible, well-documented estimate with a stated methodology, not as a precise census. The headline percentage is best read as evidence of direction and momentum at a point in time.