New Bitcoin addresses hits yearly high

Companies • July 17, 2023, 6:00PM EDT
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Quick Take

  • The seven-day moving average for new Bitcoin network addresses topped 500,000 for the first time this year.

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.


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AUTHOR

Frank Chaparro profile picture Frank Chaparro

Frank Chaparro is Host of The Scoop podcast and Director of Special Projects. He also writes a biweekly newsletter. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. For inquiries or tips, email [email protected].

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Editor

To contact the editor of this story: Nathan Crooks at [email protected]

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