XMR (Monero) rose 1.48% in the last 24 hours.

Gate News Bot message, on September 16, according to CoinMarketCap data, XMR (Monero) is currently priced at $305.78, with a 1.48% rise in the last 24 hours, reaching a high of $308.54 and a low of $265.79. The 24-hour volume is $146 million. The current market capitalization is approximately $5.641 billion, an increase of $82 million compared to yesterday. Currently, XMR ranks 26th in the global Crypto Assets market capitalization.

Monero is a private, decentralized encryption currency dedicated to protecting users' financial privacy and security. It offers secure, private, and untraceable transaction features. Monero has multi-platform wallet support, allowing users to conveniently use it on various devices. The project also has an active developer community and research lab that continuously improve its privacy protection technology.

Important recent news about XMR:

1️⃣ Monero blockchain suffers a severe reorganization The Monero blockchain experienced a major security incident on September 15, resulting in the rollback of 18 blocks, approximately 36 minutes of transaction history being rewritten, and 118 confirmed transactions becoming invalid. This is the most serious block reorganization event in Monero's history, posing a significant challenge to the network's security and stability.

2️⃣ Cybersecurity risks have raised widespread concern This blockchain reorganization event is believed to possibly be an attack on the Monero network. Security experts point out that the attackers may have the ability to execute a double-spending attack, even if they do not necessarily possess strict control of more than 51% of the hash power. This event highlights the potential security threats faced by the Monero network, which requires the community and development team to pay close attention and take measures to address it.

3️⃣ Market Reaction and Price Trends Despite facing technical challenges, the XMR price recorded a rise of 1.48% in the past 24 hours. This may reflect investors' confidence in Monero's long-term development prospects and the market's continued optimism towards the demand for privacy coins. However, cybersecurity issues may have a potential impact on XMR price trends in the future, requiring close attention.

From a technical perspective, the security challenges faced by the Monero network may impact its reliability and attractiveness as a privacy coin. How the project team and community respond to this issue will be a key factor in determining the future development of XMR. Investors should closely monitor the Monero team's response measures to this incident and their long-term impact on network security.

This message is not intended as investment advice; investors should be aware of market volatility risks.