Methods and systems for implementing dynamic rate adjustment for interaction monitoring are disclosed. At an entity, the collection of trace information is initiated according to a first sampling rate. The trace information is indicative of interactions between the entity and one or more additional entities. A second sampling rate is determined based at least in part on information external to the entity. The second sampling rate is determined after the collection of the trace information is initiated at the entity according to the first sampling rate. At the entity, the collection of additional trace information is initiated according to the second sampling rate.