Kraken Stop XMR Deposit After Qubic Get 51% Monero Hashrate
Kraken crypto exchange stop Monero (XMR) deposit on August 15 afta say Qubic mining pool claim say e get control of over 51% of di network hashrate. Qubic reorganize six blocks wey fit allow double-spends and transaction reversal before e hashing power drop for short time from 2.6 GH/s to 0.8 GH/s during DDoS attack on August 4. Even tho trading and withdrawals no harm, Kraken talk say e dey risky for network integrity, including block reorganizations, double-spends and censorship. Dis thing make Monero price drop 10%, but later e recover reach about $265, increase by 12% inside 24 hours. Kraken go resume XMR deposits once di hashing power decentralize and network security restore. Traders suppose watch Monero decentralization level and Kraken deposit status as volatility fit increase.
Bearish
Di 51% hash power dey concentrated plus di suspension of deposit by Kraken don make market fit lose confidence, e cause immediate selling pressure and e increase volatility. Even though Monero price recover after di first drop, people still dey uncertain about di network security and if deposit go dey available, e fit hold back bullish sentiment for short term. For long term, if dem fit restore decentralization and clear security improvements, e fit stabilize XMR price, but traders still dey careful until dem fully address network integrity risks.