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  • Does it include Lightning Network volume? Both public and private channels?
  • Does it include OTC volume?
  • Does it include platform trade volume?
  • Does it include SegWit enabled volume when a single transaction can have hundreds of payment outputs?
  • Does it include account-based volume, when I'm transferring BTC on CashApp-Coinbase-Robinhood-Etc to another CashApp-Coinbase-Robinhood-Etc user?
  • Does it include sidechain volume? Like Liquid, Stacks, etc?
  • Does it include derivative volume? Like wrapped collateral (WBTC, etc)?
All of these things are growing. Avoid the mainstream TradFi metrics. They're meaningless.
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