{"id":26143,"date":"2025-08-17T19:34:46","date_gmt":"2025-08-17T16:34:46","guid":{"rendered":"https:\/\/forklog.com\/en\/week-in-review-cryptos-rollercoaster-and-a-51-attack-on-monero\/"},"modified":"2025-08-17T19:34:46","modified_gmt":"2025-08-17T16:34:46","slug":"week-in-review-cryptos-rollercoaster-and-a-51-attack-on-monero","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/week-in-review-cryptos-rollercoaster-and-a-51-attack-on-monero\/","title":{"rendered":"Week in review: crypto\u2019s rollercoaster and a 51% attack on Monero"},"content":{"rendered":"

Bitcoin and Ethereum tested peak levels; Qubic organised a 51% attack on Monero; the US ruled out topping up its crypto reserve with federal funds; Turkish exchange BtcTurk lost $48m; and other events of the week.<\/p>\n

Up and down<\/h2>\n

The past seven days were volatile for digital assets\u2014first a rapid climb, then an equally brisk fall.<\/p>\n

The first cryptocurrency opened Monday at $118,000, the same day it climbed<\/a> to $122,000 before returning to its morning level. From Tuesday to Wednesday bitcoin traded in a $118,000\u2013$120,000 range.<\/p>\n

Overnight on August 14, digital gold set a new all-time high above $124,000, but almost immediately corrected, dropping to $117,000.<\/p>\n

\"Week
Hourly chart, BTC\/USDT on Binance. Source: TradingView<\/a>.<\/figcaption><\/figure>\n

At the time of writing BTC trades at $118,100.<\/p>\n

Ether tracked bitcoin all week, with shallower drawdowns. At the peak, the second-largest cryptocurrency fell short<\/a> by less than $100 of its ~$4,880 record.<\/p>\n

\"Week
Hourly chart, ETH\/USDT on Binance. Source: TradingView<\/a>.<\/figcaption><\/figure>\n

The rise came alongside hefty inflows to spot ether ETFs\u2014from 5 to 14 August, receipts reached<\/a> a record $2.8bn. However, on Friday the products lost $60m amid a broader market pullback.<\/p>\n

\"Week
Source: SoSoValue<\/a>.<\/figcaption><\/figure>\n

ETH now trades around $4,500. The weekly gain is 8.3% versus a near\u2011flat print for bitcoin.<\/p>\n

\"Week
Source: CoinGecko<\/a>.<\/figcaption><\/figure>\n

Beyond bitcoin, BNB set<\/a> a new ATH at $867. Including the pullback, it rose 7.4% on the week.<\/p>\n

In parallel, Solana topped<\/a> $205. It now trades just below that psychological level, up 6.7% over seven days.<\/p>\n

Total crypto market capitalisation holds a touch above $4trn. Bitcoin\u2019s dominance slipped to 57.4%.<\/p>\n

The crypto fear-and-greed index stands at 62, signalling restrained optimism among investors.<\/p>\n

\"Week
Data: alternative.me<\/a>.<\/figcaption><\/figure>\n

Monero under siege<\/h2>\n

The 51% attack promised by Qubic materialised this week. On August 12 the mining pool seized<\/a> a majority of the network\u2019s hashrate.<\/p>\n

\"Week
Source: X<\/a>.<\/figcaption><\/figure>\n

The initiators pulled off a large block reorganisation. Control allowed Qubic to rewrite transaction history, conduct double spends and censor operations.<\/p>\n

Ledger\u2019s CTO, Charles Guillemet, put the daily cost of sustaining such an attack at $75m.<\/p>\n

At the time of writing Qubic still controls a considerable share of Monero\u2019s hashrate, though the figure has fallen to 32.3%. The next-largest pool accounts for 21.5%.<\/p>\n

\"Week
Source: MiningPoolStats<\/a>.<\/figcaption><\/figure>\n

Developers urged the community to switch on their own mining rigs to \u201cenhance security\u201d.<\/p>\n

\n

Fire up your miners to support the Monero network and enhance its security! https:\/\/t.co\/axXOwhhY0m<\/a><\/p>\n

\u2014 Monero (XMR) (@monero) August 16, 2025<\/a><\/p><\/blockquote>\n