Try Quests to earn cryptoActive Wallet Growth_SOLANA
What is the number of unique active wallets (signers) over the past 7 days? Create a visualization showing the number of active wallets per day since the start of 2022. What trends do you see?
Solana (https://solana.com/) is a decentralized computing platform that uses SOL to pay for transactions. Solana aims to improve blockchain scalability by using a combination of proof of stake consensus and so-called proof of history.
The line chart shows the number of active wallets per day since the start of 2022. On 22-Jan-2022, number of SOL wallet fell quite significantly due to network instability. For more information, please refer to this link: https://www.bloomberg.com/news/articles/2022-01-23/solana-suffers-network-instability-during-brutal-week-for-crypto . More importantly, from the chart, we can see that SOL experienced a dramatical decrease from 31-Jan to 02-Feb. In fact, Bitcoin (BTC) and ether (ETH), the world’s two largest cryptocurrencies by market capitalization also had the same trend. The root cause is the announcement of the results of the Fed's two-day meeting. The market going down is mostly being attributed to the US Federal Reserve’s plan to hike interest rates this year to target rising inflation. Like any asset, macroeconomic factors affect the crypto too. Read more at: https://economictimes.indiatimes.com/markets/cryptocurrency/federal-reserves-rate-hike-hint-sends-cryptos-crashing/articleshow/88745642.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Having said that, it is hard to predict the future of cryptocurrency at this time. The good new is that India proposes 30% tax on crypto and NFTs income. By bringing in taxation, the government legitimises this industry to a large extent, which give cryptocurrency more opportunities to develop.