The number of unique users on Osmosis has been steadily increasing over six months before unexpectedly increasing at the start of 2022 before steadily falling near the end of April 2022. This does not appear to be tied to the price of Bitcoin, which is commonly used as a cryptocurrency index.

However, if we look at some of the events on Osmosis, we can see that there have been a lot of events since the beginning of 2022, which could be tied to the huge growth in user numbers.