Bitcoin computing power hits record high, Ethereum transaction fees drop to five-year low

Bitcoin

Former US SEC Chairman: Bitcoin may continue to exist for a long time

Golden Finance reported that according to Cointelegraph, former US SEC Chairman Gary Gensler said in a video interview, "Bitcoin may continue to exist for a long time because 7 billion people around the world have shown a strong interest in it."

Bitcoin's total network computing power hits a record high

On April 17, according to CloverPool data, Bitcoin's total network computing power once exceeded 1,000 EH/s, a record high, and is now reported at 893 EH/s; the current average computing power of the entire network in the past seven days is 888.85 EH/s. Although the growth of Bitcoin's computing power marks an improvement in network security, it also means that the cost of mining 1 Bitcoin is increasing. Combined with the reduction in block rewards brought about by the Bitcoin halving in 2024, the growth in computing power may lead to the integration of small mining companies.

Bitcoin is expected to rebound similar to 2023

Golden Finance reported that the US dollar index (DXY) fell below the psychological level of 100 and hovered near multi-year lows. Andre Dragosch, head of European research at asset management company Bitwise, pointed out that Goldman Sachs' research still indicates that DXY has room to fall in the future. Trader BitBull said that DXY is falling at the fastest rate since 2023. In early 2023, Bitcoin and altcoins were rebounding from the trough of the 2022 bear market. At that time, Bitcoin had bottomed out in the fourth quarter of 2022 and rose by more than 200% in a year. Bitcoin is expected to rebound similarly in 2023 as Bitcoin optimism will continue to focus on the momentum of a weaker dollar.

Matrixport: Bitcoin ETF fund inflows are concentrated in the head institutions, reflecting that institutional demand is stronger than the extensive participation of retail investors

Golden Finance reported that Matrixport released its latest report saying that in 2025, the net inflow of funds into Bitcoin ETFs will be only slightly above zero, despite a strong performance at the beginning of the year, with an inflow of nearly $5.5 billion. This phenomenon is quite unexpected, as Bitcoin has outperformed US technology stocks this year and gold has also hit a record high. It is worth noting that the total net inflow of Bitcoin ETFs is $35.5 billion, of which BlackRock accounts for $39.6 billion and Fidelity accounts for $11.4 billion, which together account for the vast majority of the share. In contrast, inflows from other ETF issuers are relatively limited. This suggests that the current buying is more likely to come from a specific group of institutional clients rather than being driven by broad retail funds-if the latter, the inflow of funds will be more evenly distributed among various ETF providers.

Bitcoin may outperform stocks in a market correction for the first time

Golden Finance reported that Bitwise Chief Investment Officer Matt Hougan recently said that Bitcoin is showing characteristics that are "clearly different" from previous market corrections. Despite the market volatility caused by Trump's tariff policy, Bitcoin's price has fluctuated only 0.07% in the past month, showing rare stability. Since Bitcoin broke through $1 in 2011, it has never outperformed the stock market during a full market adjustment, but Hougan believes that this time may be different. As more companies, institutions and governments begin to hold Bitcoin, its narrative as a safe-haven asset is gradually replacing the positioning of risky assets, showing signs of the growing maturity of the cryptocurrency market.

Another Swedish Democratic Party MP pushes to include Bitcoin in the national reserve

Golden Finance reported that according to Decrypt, the attention of Swedish politicians to Bitcoin continues to heat up. After MP Rickard Nordin called on the government to reassess its Bitcoin reserve strategy last week, another Swedish Democratic Party MP Dennis Dioukarev spoke out on the issue this week. On Monday, Dioukarev submitted a formal inquiry to Finance Minister Elisabeth Svantesson, suggesting that Sweden follow the practice of the United States and other countries and establish a national Bitcoin reserve through asset confiscation and other means. "This trend has emerged in many countries," he said in his questioning, specifically mentioning the case of the US government using confiscated funds to build Bitcoin reserves, and asked "whether the Treasury has considered such a plan."

Trump's Bitcoin strategic reserve value has shrunk by 12% in the past month

Golden Finance reported that economist and gold advocate Peter Schiff once again sharply criticized Bitcoin and President Donald Trump's latest economic policies. He said that Trump's Bitcoin strategic reserve value has shrunk by 12% since March 6, and if the government chooses to invest in gold, it can achieve a 2% appreciation. Peter Schiff added that strategic Bitcoin reserves are being used to lure unsuspecting investors. Compared with any speculative frenzy in history, Trump has caused Americans to lose more in cryptocurrencies. For example, Meme coin TRUMP has fallen by more than 80%.

Lomond School in Scotland will accept Bitcoin for tuition

Golden Finance reported that according to Cointelegraph, Lomond School in Scotland will accept Bitcoin for tuition from the fall semester of 2025, which is the first time in the UK. The school currently has no plans to accept other cryptocurrencies, or to immediately convert Bitcoin into fiat currency. In the future, the school may establish a Bitcoin vault, but it needs to listen to the community's opinions.

Ethereum

The Ethereum Foundation announced the opening of the sixth batch of Ethereum Protocol Scholarship Program applications

Golden Finance reported that according to official news, the Ethereum Foundation issued a document announcing that the sixth batch of Ethereum Protocol Scholarship Program (EPF6) is open for application. The application for EPF6 will end on April 30. The sixth phase will be held from June to November 2025. Participants will have the opportunity to contact mentors from the core development community. The project team will hold an information session at 4 pm UTC on April 21 to answer related questions.

Ethereum transaction fees dropped to the lowest level in five years

Golden Finance reported that according to Santiment on the X platform, Ethereum transaction fees have dropped to the lowest level in five years, and the current transaction cost is only $0.168. This is the lowest daily cost of ETH transfers since May 2, 2020.

EigenLayer announced that the Ethereum re-staking penalty mechanism will be launched on the mainnet today

Golden Finance reported that the Ethereum re-staking protocol EigenLayer announced that the penalty mechanism (Slashing) will be launched on the mainnet today (April 17, 2025).

Huaxia Fund (Hong Kong)'s Ethereum spot ETF has been approved to provide pledge services

Golden Finance reported that Huaxia Fund (Hong Kong) announced today that its Huaxia Ethereum ETF (3046 HK / 83046 HK / 9046 HK) has been approved by the Hong Kong Securities Regulatory Commission to become a spot ETF product that can provide pledge services. This innovation will provide investors with more attractive returns. The amendment will officially take effect on May 15, 2025. ETH staking is a core function of Ethereum's Proof-of-Stake (PoS) mechanism. Participants participate in network security maintenance and obtain corresponding rewards by locking ETH. Currently, the annualized rate of return of ETH staking is about 2.19%. According to the terms of approval, Huaxia Ethereum ETF can use up to 30% of Ethereum in its portfolio for staking. The income generated by staking will be reinvested in the ETF, further improving the overall return of the product. This innovative move will provide investors with more attractive return potential while improving the overall efficiency and security of the Ethereum ecosystem.

Other projects

BNB Chain TVL Incentive Plan #5 has ended, and a total of five projects have received delegated support

Golden Finance reported that according to official news, BNB Chain TVL Incentive Plan #5 has ended, and a total of five projects have received delegated support, namely: KERNELDAO, ASTHERUS, YIELDNEST, TRANCHESS and LISTA-DAO. The TVL incentive program will currently support related projects to enhance the lockup of BNB/liquidity pledged BNB (lstBNB) and incentivize the ecosystem to increase TVL through competitive challenges.

OpenAI and SoftBank's Stargate Project Considers Investment in the UK

Golden Finance reported that Stargate, a $500 billion US data center project led by OpenAI and SoftBank, is considering future investments in the UK as the company looks overseas to build the global infrastructure needed to support powerful artificial intelligence models. Three people familiar with the matter revealed that the UK has become one of the project's top choices as the government led by British Prime Minister Starmer has recently pushed for increased investment in the artificial intelligence industry, including a plan to promote energy access for artificial intelligence developers.

MELANIA project party sold another 2.95 million MELANIA 7 hours ago

Golden Finance reported that 7 hours ago, another 2.95 million MELANIA were sold by the project party in the form of adding unilateral liquidity for 9,009 SOL (US$1.2 million). In the past three days, the MELANIA project has continued to transfer 7.643 million MELANIA (US$3.21 million) from liquidity and community addresses, and then added it to the MELANIA/SOL unilateral liquidity on Meteora, selling MELANIA for SOL in the set range. Among them, 2.95 million MELANIA were sold for 9,009 SOL 7 hours ago. Currently, the project has sold 23.45 million $MELANIA in the past month and hoarded 110,000 SOL (US$14.75 million).