Coindesk

Qubic, a project led by former IOTA co-founder Sergey Ivancheglo, says it has secured more than 51% of Monero’s global hashrate, a milestone that, if true, gives it the ability to reorganize blocks, censor transactions, and attempt double-spends on the privacy-focused blockchain. Ivancheglo framed the move as a stress test to help the Monero community prepare for future network threats, but the announcement has triggered sharp debate among developers and security experts.A 51% attack occurs when a single entity or coordinated group controls a majority of a proof-of-work network’s hashrate. Ethereum Classic suffered multiple reorganizations in 2020, resulting in millions of dollars in losses, while Bitcoin Gold faced similar assaults in 2018 and 2020. Smaller networks like Verge have also...

The global crypto market cap rose 2% in the past 24 hours to $4.03 trillion as major cryptocurrencies posted gains. Bitcoin (BTC) added 2.3% to $118,527, ether rose 0.7% to $4,293. Solana and XRP each advanced 4.4% while Dogecoin gained 4.7%. The rallies came alongside heavy short liquidations, with risk sentiment improving after a relatively calm macro session.Derivatives PositioningFutures open interest (OI) in major tokens decreased over the past 24 hours, indicating a capital outflow. It's also suggestive of price losses being driven by the unwinding of long positions rather than outright short sales.XMR's perpetual futures appear overheated, with annualized funding rates exceeding 200%. The extremely high figure may prompt arbitrageurs to take a simultaneous long position in the spot...

Metaplanet (3350) said it bought another 518 bitcoin (BTC) as part of its Bitcoin Treasury Operations. The purchase was made at an average price of $118,519 per bitcoin, bringing the total purchase value to about $61 million, the Tokyo-based investment company said in a post on X.The company, holder of the sixth-largest corporate stash of bitcoin, now holds some 18,113 BTC valued about $1.85 billion. It paid an average of $101,911 per bitcoin.Metaplanet also provided an update on its bitcoin-related performance metrics. Between July 1 and Aug. 12 the BTC Yield stood at 26.5%, reflecting the growth in bitcoin holdings relative to fully diluted shares outstanding. Its previous BTC Yield figures highlight notable fluctuations. The figure was 41.7% in third-quarter...

Stripe is building a new blockchain dubbed Tempo with crypto venture firm Paradigm, according to a now-removed job posting dated Aug. 3 on the Blockchain Association website.The role sought a product marketer with Fortune 500 experience, signaling an enterprise push, according to Fortune.The move coincides with the development of other stablecoin-focused blockchains. These include Plasma, which drew over $373 million in an oversubscribed token sale, and Tether-focused blockchain Stable.Interest in the $270 billion stablecoin sector has been growing exponentially. Trump’s recent signing of the GENIUS Act into law has helped boost the sector, as it established a regulatory framework for the sector in the U.S.Tempo is described as a “high-performance, payments-focused” layer 1 that will run code compatible with Ethereum....

This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.The bitcoin (BTC) rally has stalled, raising the possibility of a potentially bearish technical formation: a double top.A close examination of the daily chart reveals that bulls failed to sustain a rally above the key Fibonacci level of $122,056 on Monday, a performance that precisely mirrors a similar rejection on July 14, according to data source TradingView.This dual failure to establish a foothold above the key price point, separated by a brief pullback, is a hallmark of the double top pattern. The neckline of this pattern, drawn from the low of $111,982 reached during the brief pullback, is the key level to watch on the downside.A decisive...