The leading cryptocurrency-dedicated privacy Monero (XMR) rose to a near two-month-old $ 333 early Monday even though Blockchain suffered An18-block Reorg returning more than 100 transactions.
This episode re-emphasizes centralization issues with proof-of-work blockchains that allow for tampering records.
Meanwhile, Bitcoin exchanged for Red, who failed to establish a foothold above $ 116,000 over the weekend as the whales rotate more ether funds. The broader market also surrendered to the acquisitions, with the CoinDesk 20 index falling to 3,239 points, a fall of more than 3% within 24 hours.
Derivatives positioning
by Omkar Godbole
- Top 25 coins have experienced a decline in Futures Open Interest (OI) for the past 24 hours, with memecoins, such as Doge, Pepe and Fartcoin, registering double digit capital flows. This is in contrast to the pre-fed bounce that is seen in most tokens.
- BTC Oi Tally’s global futures returned to 720k BTC from a nearby record of 744K BTC last week. The total market across the market returned to $ 90 billion from $ 95 billion over the weekend.
- Eth’s tally has grown to more than 14 million ether from about 13.2 million ether early this month, indicating changing capital flow. However, this does not have to indicate bullish position, as the Oi-normalized aggregate volume of delta (CVD) for ETH has been negative in the past 24 hours. That is a sign of net selling pressure.
- Most major tokens have seen a negative CVD in the past 24 hours.
- The Futures activity listed in the CME looks selected by the pace, with the OI bouncing at 141.69K BTC from the multimonth low of 133.25K BTC early this week. The annual rate on a three-month basis remains less than 10%, expanding the integration. Eth’s CME OI remains below 2 million ether.
- In the derivit, putting bias on BTC and ETH are greatly lightened with all tenors as markets expect fed rates in the coming months. The indicated structure of the term of volatility remains in the contango, with the expiration of December that is expected to be more changing.
Token talk
By Oliver Knight
- Monero’s blockchain suffered the deepest Reorg on Monday, rolling 18 blocks.
- A blockchain reorganization, or reorg, occurs when the nodes leave part of the existing chain to follow longer with more proof-of-work. The transition occurs during a temporary fork, when two versions of the chain are competing.
- Monero’s XMR token remained unhappy during the porcess; rallying of 5% despite Quubic’s attack, a layer-1 dedicated to blockchain and mining attempted Get the Monero Blockchain by alerting 51% of the mining power last month.
- The event re -wrote about 36 minutes of transaction history and improper about 118 confirmed transactions, motivating concerns about network security.
- Crypto Podcaster Xenu claimed that Quubic’s Reorg was an attempt to “stop bleeding” of XMR prices after it collapsed from $ 344 to $ 235 during the initial attack of 51% in August.
- XMR is currently trading for $ 304 that has kept negative emotions with a day -to -day trade volume rising by 78% to $ 136 million.
