On https://the-federation.info/platform/73 I've noticed a total users dip on 2022-11-04, did some instance closed?
this post was submitted on 13 Jun 2023
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I noticed the same, and my hypothesis is that after a certain time inactive accounts are deleted. The accounts seem to spike a few months before that "crash" in user count. Also, if you look at "active in the last month" you see that many of those new joiners didn't remain active even for a month.
I couldn't find any information regarding automatic accounts deletion, so I doubt that it is that. Maybe there was some bot spam account creation that later was manually fixed by deleting those users?