Monero's price has plummeted by nearly 25% in the past month due to fears of a 51% attack by the Qubic mining pool, which claims to have secured over half of the Monero network's hashrate. This situation has led to panic selling as investors rush to liquidate their holdings, causing XMR to fall to approximately $251.35. In contrast to Monero, other privacy coins such as Zcash and Dash have seen positive price movements. The selloff intensified as Monero approached critical support levels below $250, triggering concerns about a potential break below $220, which could accelerate losses. Furthermore, Monero's technical indicators suggest bearish momentum, with an oversold RSI indicating that the asset has been oversold amid heightened fear and uncertainty surrounding the network's security. While some experts argue that the attack may not be malicious, the underlying threat could undermine Monero's reputation for privacy and security, casting doubts on its future viability in the crypto market.

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