Data: The number of new addresses on the Bitcoin network has reached a two-month high

ChainCatcher news, according to data from The Block, despite the recent market downturn, the number of new addresses on the Bitcoin network has reached its highest level in two months. The 7-day moving average (7DMA) recorded over 317,000 new addresses on July 5, while the 7DMA new addresses at the beginning of last week were only 263,000, marking a significant week-over-week increase of 20%.

Meanwhile, the seven-day moving average of Bitcoin's average transaction fee has dropped to a low of $1.75. Analysts say this discrepancy highlights an interesting dynamic within the Bitcoin network, where, although new participants are joining, it does not necessarily mean higher transaction fees or increased on-chain activity at this time.