It’s really been a while since I sat down to do an in-depth check into on-chain data for $LBTC and this latest dive was worth every minute.

Daily transfer counts consistently range between 400 and 750, which shows users are actively putting their BTC to work, not just holding.

I noticed major spikes on June 27 and July 2, which match the exact period the Katana vault went live. Transfer volume increased sharply while user count stayed stable, a clear sign that larger holders were moving with intent to capture new yield opportunities.

User growth has also been steady, with unique wallets hovering around 1.5k to 2k. The sender and receiver flow looks balanced too, which confirms this is real, ongoing usage not random activity or exit moves.

From this recent dive alone, it’s clear @Lombard_Finance is gaining real traction. The on-chain movement reflects how well the protocol is executing and how responsive its community is becoming.