Monero Surges Over 7% Despite Major Blockchain Reorganization
- Monero (XMR) experienced a price increase of approximately 7.4%, rising from $287.54 to $308.55.
- An 18-block reorganization reversed around 117 transactions, raising concerns about the network’s security.
- The reorg occurred on Sunday, starting at block 3499659 and concluding at block 3499676 in about 43 minutes.
- Qubic, which controls over 51% of Monero’s hashrate, was implicated in both the recent and a previous six-block reorg.
- Experts suggest that Monero may need to adopt DNS checkpoints to prevent future attacks, despite potential centralization risks.
The recent blockchain issues have sparked discussions regarding Monero’s reliability as a privacy-focused cryptocurrency, especially following Qubic’s significant influence over the network’s hashrate.
Despite an 18-block reorg, XMR managed to maintain strong performance, only falling by about 5.85% since Qubic’s takeover began on July 28.
