New Bitcoin addresses hits yearly high

The number of unique addresses on the Bitcoin network hit a high for the year, according to The Block's data dashboard. 

The seven-day moving average for new addresses topped 500,000 for the first time this year, surpassing the previous high of 499,000 on April 8.

On July 12, the metric reached 501,440. That's the highest level since May 2021.

The increase in new addresses has been underpinned by an appreciation in the price of the largest cryptocurrency, which has soared 43% this year. Trading on Monday was mostly muted, with the world's largest crypto currency by market capitalization declining 0.3% to $30,212, according to CoinGecko.