Crypto Update: XMR Gains Momentum Despite 18-Block Reorg

Bitcoin traded lower on Monday after failing to stay above $116,000, as whales rotated funds into ether. The broader market also retreated, with the CoinDesk 20 Index falling over 3% in 24 hours to 3,239 points.

Privacy-focused cryptocurrency Monero (XMR) surged to nearly $333, its highest level in almost two months, despite an 18-block reorganization that reversed more than 100 transactions. The event underscores centralization risks in proof-of-work blockchains, which can make them susceptible to record manipulation.

XMR’s rally reflects strong investor demand for privacy coins, even amid technical disruptions, while bitcoin and the wider market continue to face volatility driven by capital rotations and whale activity.