Monero Hashrate Hit 7.2 GH/s Record as Atomic Swap Volume Hit $84 Million After New Exchange Delistings

Privacy mining just roared back after delistings, and hash won. Monero hashrate hit 7.2 GH/s record this week, up 18% week over week, after atomic swap volume hit $84 million as users moved off centralized venues. Daily mining revenue hit $142k with 2.1% average fee for atomic swaps versus 0.8% on old order books, so traders paid more for privacy.

Why hashrate jumped is fear plus profit. Three large exchanges delisted XMR for EU users, so spot depth fell 42% and spread widened to 28 bps from 6 bps. Miners with RandomX rigs saw profit rise from $0.18 per kH per day to $0.24, so 12k new CPUs joined, mostly Ryzen 9 and EPYC. One pool added 1.1 GH/s alone. Atomic swaps via BTC to XMR now settle in 18 minutes median, with $2.4k median size, up from $420 last month, so size grew 5x.

On-chain flow shows holders moved to self custody. XMR exchange balances fell to 1.8 million XMR, lowest since 2021, while total supply is 18.4 million, so 9.8% sits on exchanges. Coins aged over 1 year rose to 72%, a record. Funding for XMR perps went negative to -0.012% per 8h as shorts piled on delisting news, but spot held, so short squeeze risk rose. Liquidations above $180 total $68 million.

For traders, privacy premium returned. XMR/BTC ratio added 6.2% week over week, best since March. Options are thin, but call skew for XMR $200 calls for August rose 5 vol points. One OTC desk reported $12 million of BTC to XMR flow in a day with 40 bps premium over spot.

Risk is chain attack math. At 7.2 GH/s, cost to 51% XMR for one hour is near $380k using rental CPUs, versus $1.2 million for a GPU chain of similar cap, so cheaper to attack than many think. Also, atomic swap scams rose, with 14 reports of fake refund keys losing $420k total.

When delistings push users to atomic swaps and hashrate hits record, privacy has demand. That is why XMR hash and swap volume spiked together.

#Monero #XMR #Privacy #AtomicSwaps #Mining