The privacy-focused cryptocurrency Monero has suffered a major disruption, with 60 mined blocks discarded from its blockchain in the past 24 hours amid an ongoing attempted 51% attack by the Qubic network.

The Monero Consensus Status dashboard shows Monero saw 60 orphaned blocks (valid blocks that were rejected) in the last 720 blocks. The disruption comes amid an ongoing economic attack by the Qubic network, incentivizing selfish mining.

Qubic miners redirect their computing power to mine Monero (XMR) and sell the proceeds to buy and burn Qubic tokens, while being paid in QUBIC. Qubic miners reportedly earn more than Monero miners under this setup.

The attack has sparked fears of a possible “51% attack” — a rare and serious event that can let attackers rewrite transactions or block them entirely.

An orphaned block is a valid block excluded from the main chain because another competing block at the same height was accepted first. In selfish mining, a miner with significant hashrate withholds blocks and publishes them strategically to overtake the public chain, causing honest miners’ work to be discarded.

As of the time of writing, Monero’s price stands at over $247, down over 8.6% from the price of over $276 reported 24 hours ago.

Qubic attack disrupts Monero network

Qubic’s Monero mining pool openly engages in selfish mining, with Qubic founder Sergey Ivancheglo admitting it in an X post. Ivancheglo claimed in a Tuesday X post that “Qubic has achieved 51% over Monero” and the team is “waiting for independent confirmations.”

Related: 51% attack on Ethereum more difficult than on Bitcoin — Justin Drake

A 51% attack occurs when a single entity — in this case, the Qubic mining pool — controls over half of a blockchain network’s mining power or stake, allowing them to manipulate transactions. Zhong Chenming, the co-founder of crypto cybersecurity firm SlowMist, said in a Tuesday X post that “this time the 51% attack on Monero seems to have succeeded.” He added:

“The cost was also high, and it’s unclear what the economic benefits of doing this are in the end… In theory, the Qubic mining pool can now rewrite the blockchain, achieve double-spending, and censor any transactions.”

Not everyone is convinced

Doubts remain around whether a successful 51% attack occurred. Engaging in selfish mining with control over a high percentage of the hashrate that is short of the majority can occasionally lead to orphaned blocks.

Monero’s total hashrate evaluation by CoinWarz results in a 5 GH/s estimation. Unverified data provided by Qubic claims a peak hashrate of 3.01 GH/s, which is more than sufficient, and a current hashrate of 2.08 GH/s, insufficient for a 51% attack.

The Monero Consensus Status also indicates that the number of blocks mined by unknown mining pools and solo miners — the category which includes Qubic — reached nearly 30% on Aug. 11. This could signal Qubic controlling most of the hashrate for a brief period, or controlling a significant portion but still a minority of the hashrate.

SeraiDEX’s lead developer, Luke Parker, raised an issue with reports that a 51% attack took place in a separate X post. He noted that a six-block-deep network reorganization with block orphaning “does not mean a ‘51% attack’ was successful.”

“It does mean an adversary with a high amount of hash got lucky,” he added.

Related: Coin Metrics research shows BTC and ETH are immune to 51% attacks

Hack war escalates between networks

Qubic and Monero are locked in an ongoing hack war, trading countermeasures. Ivancheglo previously wrote on X that Monero broke Qubic’s selfish mining system, prompting his fix. Before that, Ivancheglo accused a developer of Monero mining software XMRig, Sergei Chernykh, of denial-of-service (DDoS) attackg Qubic’s pool, leading to hashrate losses — a claim Chernykh disputes.

The attack first started in late July when the community noticed what it described as an “economic attack.” The operation uses economic incentives — paying Qubic miners more than Monero miners — in an attempt to take control over most of Monero’s hashrate and consequently the network.

Niko Demchuk, head of legal at onchain forensics firm AMLBot, told Cointelegraph that Qubic’s attack on Monero could be deemed “computer sabotage” or “unauthorized access” under Belarusian and European Union laws. However, no statute explicitly mentions 51% attacks. Demchuk said Belarus’ cybercrime rules could apply if blockchain manipulation disrupts protected systems.

Magazine: Bitcoin vs. the quantum computer threat: Timeline and solutions (2025–2035)

]]> https://earlybirdsinvest.com/monero-price-dips-as-qubic-likely-succeeds-in-51-attack/feed/ 0 52824 https://earlybirdsinvest.com/dogecoin-doge-dips-again-healthy-correction-or-sign-of-weakening-momentum/ https://earlybirdsinvest.com/dogecoin-doge-dips-again-healthy-correction-or-sign-of-weakening-momentum/#respond Tue, 29 Jul 2025 05:43:11 +0000 https://earlybirdsinvest.com/dogecoin-doge-dips-again-healthy-correction-or-sign-of-weakening-momentum/ Dogecoin started a fresh decline from the $0.250 zone against the US Dollar. DOGE is now consolidating and might decline below the $0.2220 support.

• DOGE price started a fresh decline below the $0.2350 level.
• The price is trading below the $0.2320 level and the 100-hourly simple moving average.
• There is a bearish trend line forming with resistance at $0.2280 on the hourly chart of the DOGE/USD pair (data source from Kraken).
• The price could start a fresh upward move if it clears the $0.2280 and $0.2350 resistance levels.

Dogecoin Price Eyes Recovery Wave

Dogecoin price started a fresh decline from the $0.250 resistance zone, underperforming Bitcoin and Ethereum. DOGE declined below the $0.2350 and $0.2320 support levels.

The decline gained pace below the $0.2300 level. A low was formed at $0.2225 and the price is now consolidating losses. There is also a bearish trend line forming with resistance at $0.2280 on the hourly chart of the DOGE/USD pair.

Dogecoin price is now trading below the $0.2320 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.2280 level and the 23.6% Fib retracement level of the downward move from the $0.2486 swing high to the $0.2225 low.

The first major resistance for the bulls could be near the $0.2350 level or the 50% Fib retracement level of the downward move from the $0.2486 swing high to the $0.2225 low. The next major resistance is near the $0.2420 level. A close above the $0.2420 resistance might send the price toward the $0.250 resistance. Any more gains might send the price toward the $0.2550 level. The next major stop for the bulls might be $0.2650.

Downside Correction In DOGE?

If DOGE’s price fails to climb above the $0.2280 level, it could start a downside correction. Initial support on the downside is near the $0.2220 level. The next major support is near the $0.2120 level.

The main support sits at $0.2050. If there is a downside break below the $0.2050 support, the price could decline further. In the stated case, the price might decline toward the $0.1980 level or even $0.1920 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.

Major Support Levels – $0.2220 and $0.2120.

Major Resistance Levels – $0.2280 and $0.2350.

Today, we (the Devcon organizing team) are excited to make public a new way to get involved in next year’s event, and one that should make Devcon an experience that better represents Ethereum as a whole.

Devcon Improvement Proposals (DIPs) are a new tool to involve collaborative community input from across the ecosystem. They are aimed at improving the Devcon experience by formalizing a process to get your ideas heard and integrated into the event.

Why now?

In previous posts, we’ve touched on doing more to represent the entire Ethereum ecosystem at Devcon. However, doing so at any one event has become more and more challenging over the years. In many ways, this is a welcome problem to have, since the challenge is thanks to the growth in both size and diversity among builders, presenters, attendees, organizations and everyone else that’s participating.

While there was a time when everyone involved might have easily fit into a classroom, we’ve long since passed a point where demand exceeded supply in more ways than one (e.g. the amount of tickets, talk slots, or dogfooded applications).

So while we took first steps in solving for specific areas of past difficulty in our launch post earlier this year, we’ve also tried to be proactive when thinking about how to factor for things that no one team might think to include on their own. And that’s led us here.

How do DIPs work?

Let’s dig in. The best way to get started with DIPs is by visiting the DIP github repo and by joining the conversation over at the new Devcon Forum.

As a first step, we recommend posting your idea in the Devcon Forum to receive feedback from a wider community. Once things feel a bit more defined, you can submit a formal proposal. From the time of a submission, you’ll be able to receive feedback from our team and others to help refine ideas, to discuss how they might fit into the program, and more.

The process is inspired by the PEP, BIP and EIP processes, and while this new experiment is a bit more centralized (in that the approval of proposals ultimately lies with the Devcon team), we are excited to have a new way to branch out and hope to find consensus on a whole bunch of newly proposed ideas. The goals of DIPs are for everyone to feel heard, to have a more open discussion, and (most importantly) to improve the event by listening to and learning from the innovators around us.

What might DIPs look like?

If this process sounds rather abstract to you so far and you’re wondering what DIPs might actually look like, you’re in luck! DIPs are just being made public today, but the Devcon team has been working with a few teams to trial-run the first proposals in recent weeks.

Some of our first proposals include trying to make Devcon carbon neutral, enabling hotel and flight bookings through a FOSS decentralized travel marketplace, preparing a permissionless treasure hunt, and providing attendees with a smart wallet card during the conference.

Wrapping up

We know that the Ethereum ecosystem has simply grown too large for our team alone to be aware of every great idea out there. With the aid of DIPs, combined with your awesome continued involvement, we can make Devcon more representative of our community than ever before.

For more information, everyone is welcome to check out DIP-0, to take a look at the DIPs already submitted, and to join the forum to participate in new and ongoing discussions. We can’t wait to hear from you!

The Bitcoin price is once again commanding the spotlight as bullish momentum propels the leading cryptocurrency to new all-time highs. With the price already breaking past the $122,000 mark, analysts are growing increasingly confident in the potential for even higher targets. A recently shared chart analysis by market expert CrediBull Crypto suggests that the current rally is far from—and most importantly, no major dips are expected along the way. As a result, he has forecasted that BTC could see a significant price surge to $155,000 soon. 

Bitcoin Price Action Clears Path To $155,000 

Bitcoin’s momentum continues to gather steam, with technical indicators from CrediBull Crypto’s wave analysis report signals a bullish continuation that could propel the cryptocurrency’s price to $155,000 in the coming weeks. The analyst’s new wave count projection suggests that Bitcoin is firmly in the middle of a powerful upward leg, with minimal signs of a pullback ahead. 

Related Reading

CrediBull Crypto’s shared price chart highlights a well-formed textbook Elliott Wave structure that suggests that Bitcoin is in the early stages of a strong Wave 3. Notably, BTC’s recent breakout above the $112,000 range shifted market sentiment in a bullish direction. What once served as resistance was quickly flipped to support, and now price action is clearing a path toward even higher ATH targets as momentum continues to build.

A critical factor supporting the analyst’s optimistic BTC outlook is the daily demand zone between $98,000 and 101,000. This area served as the launch point for the previous rally above $112,000 and has remained untested ever since. With selling pressure diminishing and strength building, CrediBull Crypto believes that the price of Bitcoin will stay well above the $110,000 level. 

He also views a retest to $112,000 or a decline to $110,000 or below as highly unlikely under current bullish conditions. According to the analyst, Bitcoin’s projected path forward places it near $135,000 by the completion of Wave 3, followed by a brief period of consolidation before a final push toward $155,000. 

Bitcoin Rise Above $120,000 Is Just The Beginning

As Bitcoin continues its ride above $120,000, Crypto Fella, a market expert on X, has cited the potential for the cryptocurrency to enter price discovery mode and skyrocket to uncharted levels. The analyst’s chart highlights a well-defined ascending trendline beginning in early 2023, with three distinct rally zones marked by purple rectangles. Each of these phases showcases consolidation followed by an aggressive upward move, suggesting a clear pattern of accumulation and breakout. 

Related Reading

The current leg of Bitcoin’s rally appears to mirror this trend from past bullish cycles but with greater force, hinting that the leading cryptocurrency could be on the verge of a parabolic surge. A key target identified in Crypto Fella’s analysis sits around the $138,206 level, which aligns with the projected continuation along the trendline. This level represents the next major psychological resistance and could mark the entrance into a new phase of price discovery.

Featured image from Pixabay, chart from Tradingview.com

The crypto market saw significant declines on July 1 despite Bitcoin’s record monthly close the day prior amid continued institutional and corporate accumulation.

Bitcoin (BTC) managed to maintain its footing above the $105,000, but altcoins experienced drastic declines, with some posting double-digit percentage losses for the day.

Bitcoin fell nearly 2% to a low of $105,182, while its daily trading volume rose 5.2% to $44.96 billion, indicating continued activity even as prices dipped. The flagship crypto was trading at $105,700 but remains in danger of further downside if the recovery loses steam.

Ethereum (ETH) also fared better than the average, sliding 3.8% for the day to a low of $2,393, while other major tokens such as Solana (SOL) and Cardano (ADA) posted losses exceeding 7%, reflecting wider market weakness. The overall crypto market value dropped 2.5% to $3.25 trillion.

Over the past 24 hours, approximately 99,016 traders were liquidated, with total liquidations reaching $243.49 million. Long positions accounted for $207.14 million, while shorts represented $36.36 million, based on Coinglass data.

Bitcoin saw the highest liquidations at $57.93 million, followed by Ethereum at $33.04 million.

Broader economic uncertainty continues to weigh on market sentiment. Persistent inflation pressures remain despite prior rate increases, fueling concerns that the Federal Reserve may maintain elevated borrowing costs for longer than previously expected.

Meanwhile, geopolitical tensions, especially the upcoming July 9 tariff deadline, have added to investor caution, with worries about global supply chain disruptions and energy security impacting broader market confidence.

The US Senate also passed President Donald Trump’s “Big Beautiful Bill,” but it dropped the crypto tax amendments from the final draft, further exacerbating the negative sentiment in the market.

Traditional markets showed mixed results, with the Nasdaq and S&P 500 edging down while the Dow Jones Industrial Average rose 1%.

Bitcoin’s relative stability in the face of these declines emphasizes its position as the dominant digital asset, though its failure to break above key resistance levels has prompted some traders to lock in profits, adding to market pressure.

Investors are now awaiting upcoming US labor market data later this week, which could influence the Federal Reserve’s policy path and set the tone for risk assets in the days ahead.

Mentioned in this article

• The Chaikin Money Flow is in negative territory, showing bearish capital flows.
• Squeeze Momentum Indicator hints at upcoming price volatility.
• Reclaiming $0.180–$0.188 may signal trend reversal, but outlook remains cautious.

HBAR has reversed its earlier gains this week, dropping 6.43% in the last 24 hours and settling at $0.1679. The altcoin’s short-lived rally of 13% failed to overturn a month-long downtrend.

Investors remain cautious, with technical indicators now pointing towards sustained bearish pressure.

Key metrics like the Chaikin Money Flow and Squeeze Momentum Indicator suggest HBAR could face significant volatility ahead.

Unless buying interest returns quickly, the asset risks slipping further towards the $0.154 level in the near term.

Bearish CMF signals declining investor confidence

One of the clearest signals of HBAR’s faltering momentum comes from the Chaikin Money Flow indicator.

The CMF has now crossed into negative territory, suggesting that capital outflows are exceeding inflows.

This metric, which reflects buying and selling pressure, implies that investor confidence in HBAR’s short-term recovery is weakening.

Market participants are becoming increasingly cautious as trading volumes fail to support a rebound.

The earlier 13% price increase that briefly took HBAR out of its slump has been undone, with traders failing to follow through with sustained buying.

Without a shift in sentiment or a clear catalyst to spark demand, the coin’s price may remain under downward pressure.

At current levels, HBAR risks losing support at $0.163—a critical zone that, if breached, may result in steeper losses.

Squeeze momentum indicator shows volatility is incoming

Volatility is another major concern for HBAR. The Squeeze Momentum Indicator (SMI), which helps traders anticipate sharp price moves, has formed black dots over the past 48 hours.

This pattern typically suggests that a “squeeze” is developing, meaning a breakout—upward or downward—may be imminent.

As of now, the SMI bars remain red, reinforcing the bearish tone. However, traders are closely watching for a shift to green, which could signal a bullish reversal.

Until such a shift occurs, the indicator suggests that HBAR may continue to experience selling pressure.

The importance of this squeeze lies in its potential to trigger a large move in price.

Given the lack of current momentum and the negative readings from both CMF and SMI, the odds favour a downward move unless sentiment shifts decisively.

If the trend continues, HBAR could test lower levels around $0.154.

HBAR fails to recover from downtrend

The overall market structure for HBAR remains bearish.

Despite the temporary recovery earlier this week, the token has failed to exit the broader downtrend that has gripped it for over a month.

Price action shows a consistent inability to break past the $0.172 resistance level, a key point that analysts believe must be overcome for any bullish sentiment to return.

The next few trading sessions are crucial. A move above $0.172 would invalidate the current downtrend and may attract fresh buying.

In that scenario, HBAR could reclaim higher levels near $0.180 and potentially target $0.188.

However, without strong buying support, that outcome looks unlikely for now.

For now, the bearish indicators—negative CMF, red SMI bars, and failed breakout attempts—suggest that HBAR’s path of least resistance remains downward.

Unless the market sees renewed interest or a favourable external event, HBAR could continue facing headwinds in the coming days.

Key support and resistance zones to watch

HBAR’s immediate support lies at $0.163, a level that has held up in recent sessions.

A break below this threshold may expose the token to losses towards $0.154, intensifying the current downtrend.

On the upside, resistance remains at $0.172, followed by $0.180 and $0.188. Only a decisive move past these levels will mark a potential reversal and allow bulls to regain control.

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The XRP Ledger (XRPL) recorded a drop in transaction volume in May 2025, even as institutional adoption of the blockchain network continues to rise.

According to data from XPMarket, XRPL processed over 50.1 million transactions last month, down from 54.8 million in April. Despite the decline, active wallets rose to 278,362, up from 252,000 in the previous month.

However, this growth did not translate into deeper engagement. Analysts suggest the rise may include automated wallets, as the average activity per user remained relatively low.

dApps usage

Further breakdowns from XPMarket data reveal a concerning trend in decentralized application (dApp) engagement.

XPMarket reported that only about 10% of active wallets, roughly 28,000, interacted with dApps during the month, and most of these users engaged with just one application.

A smaller group of 3,782 wallets interacted with two dApps, while only 968 engaged with three. The number of ultra-users, defined as wallets interacting with more than three dApps, increased slightly to 293.

The imbalance between wallet growth and dApp engagement hints at automation playing a bigger role in XRPL activity. It also illustrates XRPL’s challenge in fostering long-term, human-centric user adoption.

This pattern reflects a maturing yet challenged ecosystem, where user acquisition is rising, but sustained interaction lags behind. The trend indicates that while the XRPL is gaining visibility, meaningful utility beyond basic transactions remains limited for many users.

NFT and AMM activity gains momentum

However, non-fungible token (NFT) and automated market maker (AMM) activity tell a more optimistic story.

According to XPMarket, NFT minting soared from 1.76 million in April to 2.56 million in May, showing growing interest in digital asset creation.

This uptick came alongside increased cancellations and burns, a common trend in fast-paced NFT ecosystems.

At the same time, AMM activity also grew, with more users adding and withdrawing liquidity during the period.

XPMarket remains the dominant platform for the ledger’s NFT and AMM activity, reflecting its role as a key enabler of user participation in these areas.

Institutional adoption

These numbers come as institutional adoption of the blockchain network is gaining traction.

In May, at least three stablecoin products, including EURØP, USDB, and XSGD, were introduced into the XRPL ecosystem.

In addition, the Dubai Land Department (DLD) also selected XRPL to power its real estate tokenization platform, highlighting rising confidence in the network’s infrastructure.

Market observers say XRPL’s low transaction fees, fast settlement times, and regulatory alignment make it a strong option for both traditional institutions exploring blockchain-based settlement solutions.