Phantom Wallet Growth

    Question 5:This week, Phantom (the most popular wallet in the Solana ecosystem) released its mobile app. There is an expectation that this will gradually increase adoption. Track and visualize at least two metrics to compare growth in Solana activity in the start of February (when Phantom mobile launched) to the month of January.

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    Growth metrics on Solana

    I will calculate the following metrics on a daily timeframe to analyze the growth of Solana's ecosystem for 2022:

    • number of transactions
    • number of unique users
    • number of unique programs

    Since February, there is a negative trend for transactions and unique users, with users hitting a 90-day low and transactions near the previous bottom.

    Analysis

    Solana's ecosystem has been on a negative trend since November due to several factors:

    • general crypto market crash
    • network congestion and outages
    • DDoS attack

    This general situation makes it hard to reverse the trend, even if positive adoption news come out, like launching a new mobile wallet. Solana is going to need to keep building and trying to solve the network congestion issues to be able to continue its incredible growth.

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