A practical way to read trend shifts without fancy dashboards: Look for new behavior that stays for 2–3 weeks. One-day peaks are common. Persistent baselines are rare.
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One simple question that cuts through narratives: Is the average user doing more different actions, or just more of the same action? Breadth suggests product variety. Depth suggests one dominant use case.
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When I sanity-check “activity,” I separate it into 3 buckets: Transfers (movement) Swaps (intent) Contract interactions (exploration) If one bucket spikes alone, the story is usually narrower than people think.
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