The Rise of Solana (Day 285)

Solana's price has spiked recently, more than doubled since Jan 1st, 2021. The market cap has grown even more significantly, from $81 million on Jan 1st to over $1 billion as of today, due to a big jump in circulating supply from Jan 5 to Jan 6, according Coinmarketcap.

Metcalfe's law states that the effect of a telecommunications network is proportional to the square of the number of connected users of the system (n^2).

If Metcalfe's law holds true for cryptocurrency between price and user base, we'll expect the user base (holders) of Solana to increase, too. It's hard to track the DAU (daily active user) on any particular chain, but it'd be nice to see how many token holders on any particular day. These are something the APIS project may be able to solve.

To learn more about how you can build on top of any blockchain using the APIS project, please check out the developer site, or PM me on Twitter

  1. 1

    How about tracking daily on-chain transaction numbers as a metric for daily usage?

    1. 1

      Is that something you're building, Michael? 😍

      1. 1

        We currently have a snapshot on transaction data for the cryptos we're tracking on cryptotrak.io.

        May be a good idea to add more detailed transactional data.

        Is this something that you'd like to see Calvin?

        1. 1

          There's one data I want to see but haven't found anywhere:

          • For tokens, can we track how many addresses own tokens on a daily basis?

          • Same for smart contracts (Compound, Aave, etc)

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