Daily News 19

Tag: Monero

  • Monero and Zcash Rally as MemeToro Introduces Public Smart Contract Rules for BNB Chain Memecoin Launches

    Monero and Zcash Rally as MemeToro Introduces Public Smart Contract Rules for BNB Chain Memecoin Launches

    Key Highlights

    • Monero (XMR) breaks a multi-month descending trendline, trading near $580 with a critical resistance level at $585.37 that could open a path toward a modeled $650 target.
    • Zcash (ZEC) surges over 200% in three months to hold above $1,500, fueled by Grayscale’s $900M+ ETF holdings, a planned 3-for-1 stock split, and the upcoming NU7 network upgrade.
    • MemeToro releases 1,373 lines of public Solidity code under an MIT license for a BNB Chain fair-launch memecoin platform, aiming to eliminate insider allocations, though the project remains pre-deployment and unaudited.

    Privacy Coins Reassert Market Strength Amid Technical Breakouts

    The privacy coin sector is commanding renewed market attention as both Monero and Zcash demonstrate robust technical structures and fundamental catalysts. Monero has decisively broken a descending trendline that had capped rallies since January, while Zcash has posted a staggering 200% gain over three months. These moves represent live-market rallies anchored by clear technical levels and network-level developments, distinguishing them from purely speculative narratives.

    Monero Targets $585 Resistance After Trendline Break

    Monero is currently trading close to $580 after slicing through a descending trendline that had acted as a ceiling since the start of the year. This breakout is a bullish technical development, signaling that buyers have overwhelmed sellers at a level where supply previously dominated. The immediate focus is the $585.37 resistance level; a daily close above this price would validate the broader breakout structure. Algorithmic models suggest a potential weekly target near $650.40 if this level holds, though such a move requires sustained demand and a constructive broader market backdrop. Momentum indicators remain neutral to bullish, indicating room for upside but offering no guarantees. As with all privacy assets, XMR remains sensitive to regulatory shifts, liquidity conditions, and sudden changes in market sentiment.

    Zcash Rally Powered by Institutional Demand and Protocol Upgrade

    Zcash has surged above $1,500, capping a powerful three-month ascent. Institutional interest has been a primary driver, with Grayscale’s Zcash ETF reportedly managing over $900 million in assets under management. A planned 3-for-1 stock split for the fund aims to enhance accessibility and liquidity for investors. On the protocol layer, the NU7 network upgrade, scheduled for November 5, is a major catalyst. The upgrade targets a reduction in block-generation times from 75 seconds to 25 seconds, a change designed to significantly improve the user experience for private payments. While ZEC eyes resistance near $1,700, the velocity of the rally introduces correction risk. Market participants are closely monitoring whether demand can be sustained after such a large, rapid move.

    MemeToro Unveils Public Smart Contract Framework for BNB Chain Launches

    Distinct from the established privacy assets, MemeToro represents an early-stage project focused on restructuring the memecoin launch process on BNB Chain. The project has published 1,373 lines of Solidity code across 17 files under an MIT license, including a FairLaunchEscrow contract, interfaces, tests, and documentation. The stated objective is to enforce transparent, immutable launch conditions from inception. Key proposed rules include fixed contributor and liquidity allocations, the elimination of developer-insider allocations in the fair-launch split, defined refund and liquidity pathways, and public functions for claims and finalization.

    For buyers, this framework promises improved transparency regarding tokenomics and fund flows. For creators, it offers a structured, rule-based launch alternative to the often opaque processes prevalent in the sector. However, the project is at a nascent stage: the code requires deployment, rigorous testing, liquidity execution, and independent security review. Public code availability is a meaningful transparency step, but it does not equate to a live, audited, or battle-tested platform.

    Illustrative $MT Token Economics Highlight Risk/Reward Profile

    MemeToro has provided illustrative scenarios for its native $MT token. A $1,000 purchase at a hypothetical price of $0.00430 would yield approximately 232,558 tokens before fees. If the token reaches a displayed launch target of $0.05186, the holding would carry a paper value near $12,060—a 12.06x multiple. At a theoretical $1 billion fully diluted valuation across the 1.2 billion token supply, the implied price would be near $0.8333, valuing the same allocation at roughly $193,798. The project explicitly states these are not guaranteed returns or investment advice. Realized outcomes depend on taxes, fees, slippage, liquidity depth, token supply mechanics, market demand, and successful product delivery. Prospective buyers are directed to the official MemeToro purchase guide for full details.

    Why This Matters

    The divergence between Monero, Zcash, and MemeToro underscores the widening spectrum of risk and maturity within the crypto asset class. Monero and Zcash are established Layer 1 networks with deep liquidity, proven cryptographic primitives, and live ecosystems; their current price action reflects technical analysis and institutional product dynamics. MemeToro, by contrast, is a pre-launch application-layer project attempting to solve the “fair launch” problem for memetic assets via transparent smart contract logic. While the privacy coins offer a “live price discovery story with visible support and resistance,” MemeToro’s value proposition is entirely contingent on future execution—specifically, whether AI-guided creation tools and public contract rules can attract a critical mass of creators and traders to BNB Chain. Investors and users must apply fundamentally different risk standards: one set for battle-tested monetary assets, another for unaudited, pre-revenue platform bets.

    Frequently Asked Questions

    What is the key breakout level for Monero (XMR)?

    Monero needs to hold above $585.37 to validate its breakout from the January descending trendline. A successful hold could open a path toward a modeled weekly target near $650.40, though this remains speculative and dependent on broader market conditions.

    Why is Zcash (ZEC) rising significantly?

    Zcash’s rally is supported by three primary catalysts: strong institutional demand evidenced by Grayscale’s Zcash ETF holdings exceeding $900 million; a planned 3-for-1 stock split for the fund to improve liquidity; and the upcoming NU7 network upgrade on November 5, which will reduce block times from 75 to 25 seconds.

    Does MemeToro’s public code eliminate the risks of memecoin launches?

    No. While the public smart contract rules aim to improve transparency—fixing allocations, removing insider splits, and defining refund paths—they cannot guarantee liquidity, market demand, smart contract security, or future token prices. The code is currently unaudited and the platform is not yet live.

  • Financial Times: Revolut Hackers Lower Ransom to $3M, Set 24-Hour Deadline

    Financial Times: Revolut Hackers Lower Ransom to $3M, Set 24-Hour Deadline

    Revolut Data Breach: Hackers Demand $3 Million in Monero, Threaten to Sell 680 Customer Records

    A cybercrime group styling itself “iamnotavillain” has escalated its extortion campaign against British fintech firm Revolut, demanding 6,000 Monero (XMR) tokens—valued at approximately $3 million as of September 16, 2026—in exchange for not selling confidential data belonging to roughly 680 customers. The attackers published a 24-hour countdown timer on an external website Wednesday, setting a deadline of Thursday, September 17, 2026, according to a Financial Times investigation.

    Ransom Demand and Cryptocurrency Choice

    The ransom note specifies payment in Monero, a privacy-focused cryptocurrency selected for its anonymity and cryptographic protocols that obscure transaction trails. A 60-second screen recording provided to the Financial Times reportedly displayed compromised documents including passports, driver’s licenses, and complete banking records.

    Revolut has stated officially that it has not received any direct demand from the extortionists. A company spokesperson confirmed that core infrastructure and primary databases suffered no unauthorized access, suggesting the breach may be limited to a specific compliance-related dataset.

    Breach Vector: Government Domain Impersonation

    The security incident originated from a fraudulent information request sent from a legitimate government domain. Compliance staff processed the request before identifying the identity spoofing, allowing the attackers to extract sensitive customer information. Revolut has since blocked the compromised domain and formally alerted law enforcement authorities.

    Scope of Compromised Data

    Official company disclosures indicate the leaked dataset includes:

    • Full names, residential addresses, and phone numbers
    • Identity verification photographs
    • IBAN numbers and account opening dates
    • Account statements referencing Bitcoin transfers

    The attackers told the Financial Times they used on-chain analytics to specifically target customers with significant digital asset holdings. Prior reporting by on-chain investigator ZachXBT suggests the affected accounts correspond to high-net-worth profiles, indicating a highly targeted operation rather than a broad data dump.

    Regulatory Response and Timeline

    The UK Information Commissioner’s Office (ICO) maintains an open formal investigation into the matter. UK and European Union regulators have scheduled supervisory hearings on the incident toward the end of the third quarter of 2026, signaling heightened regulatory scrutiny of fintech data protection practices.

    The extortionists’ ultimatum expires Thursday, September 17, 2026. Whether Revolut engages with the demand or relies on law enforcement intervention remains unresolved as the countdown continues.

  • Crypto Sector Surges 213% Since Bitcoin’s 2025 Peak as One Coin Leads the Rally

    Crypto Sector Surges 213% Since Bitcoin’s 2025 Peak as One Coin Leads the Rally

    Privacy Coins Surge 213% Since Bitcoin’s October 2025 Peak, Led by Zcash Rally

    Privacy-focused cryptocurrencies have climbed 213% since Bitcoin’s October 2025 high, even as BTC remains significantly below that level, according to a market breakdown published today by analyst Wise Crypto. The sector’s combined market capitalization has grown from $7.1 billion a year ago to $33.6 billion currently, though the gains are heavily concentrated in a single asset.

    Zcash Dominates Privacy Sector Growth

    Zcash (ZEC) accounts for roughly 62% of the privacy category’s total market cap on its own, rising 25x over the past year. Its market-cap ranking surged from #82 to as high as #7 at one point, though CoinGecko data currently places it at #9. Glassnode data published last week corroborated the trend, finding that privacy was the only crypto sector trading above its October peak, with every other category still down by double digits.

    Grayscale’s Zcash ETF, trading under the ticker ZCSH, crossed $500 million in assets within two weeks of launch. Monero (XMR), the second-largest privacy asset, has approximately doubled over the same period despite facing delistings from several exchanges. Among the 25 largest crypto assets, Wise Crypto noted that only four — ZEC, HYPE, XMR, and WBT — are still trading above their October levels.

    Investors Highlight Diversification Beyond Major Chains

    Investor Dan Tapiero told The Wolf of All Streets on September 11 that the moves in ZEC and HYPE this cycle demonstrate crypto is no longer just a Bitcoin, Ethereum, and Solana story. “Zcash has been an enormous winner this year,” he said, pointing to broader activity building outside the three largest chains.

    A day later, Egor Sidelska of Infinex argued that privacy is one of the only parts of crypto that hasn’t already been built out and cloned across other chains, calling ZEC “the last 100x in crypto that isn’t a random meme coin.”

    Valuation Debate Continues Amid Rapid Appreciation

    Not all analysts are convinced the rally is fully justified. Analyst filbfilb recently pushed back on how far the Zcash advance can be trusted, sharing valuation models that compared ZEC’s transaction activity against Bitcoin’s at a similar stage of issuance. Those models implied a price around $944 — below current levels — though convergence scenarios place fair value much higher if Zcash continues closing the gap.

    At the time of writing, ZEC was changing hands at approximately $1,140, flat on the day but up 32% over the last two weeks and more than 2,100% over the past year. The token remains well off its 2016 all-time high near $3,190. Meanwhile, Bitcoin traded near $77,000, down just over 1% in 24 hours and about 34% over one year, leaving it roughly 39% below its own October 2025 all-time high.

  • THORChain Privacy Upgrade Drives RUNE 26% Higher — Can Bulls Break $0.65?

    THORChain Privacy Upgrade Drives RUNE 26% Higher — Can Bulls Break $0.65?

    THORChain ($RUNE) Surges 26% After v3.20 Upgrade Enables Privacy Coin Swaps

    $RUNE rallied more than 26% in the past 24 hours, making it the top gainer among the top 200 cryptocurrencies by market capitalization. The price spike coincided with the launch of the THORChain v3.20 upgrade and a broader recovery across the crypto market. Daily trading volume tripled to exceed $20 million, though it remains modest relative to the token’s market cap.

    THORChain v3.20 Goes Live, Unlocking XMR and ZEC Swaps

    The network confirmed that the v3.20 upgrade went live on August 26. The release introduces native cross-chain swapping for Monero (XMR) and Zcash (ZEC) against Bitcoin (BTC), Ethereum (ETH), and major stablecoins. By bridging privacy-focused assets directly into THORChain’s liquidity pools, the upgrade expands the protocol’s addressable market and brings a new cohort of privacy-conscious users into its ecosystem.

    This development arrives three months after an exploit drained over $10 million from THORChain across BTC, ETH, and BSC networks. Since then, the protocol has rebuilt confidence, with swap volume data from DeFiLlama showing consistent dominance from Bitcoin and Ethereum. The chain currently averages roughly $7 million in daily BTC swaps and $10 million in daily ETH swaps.

    Source: DeFiLlama

    Short Liquidations Amplify the Move

    The sudden influx of buying pressure triggered a cascade of short liquidations in the perpetual futures market. According to CoinGlass data, $RUNE short positions worth roughly ten times the value of long positions were wiped out during the surge, adding fuel to the upside momentum.

    Source: CoinGlass

    Technical Outlook: Can Bulls Flip $0.65 Resistance?

    On the daily timeframe, the 200-day Exponential Moving Average (EMA) signals a shift to a long-term bullish trend. However, horizontal price structure remains bearish. $RUNE is still trading below the $0.65 zone, which marks the last lower high of the prior downtrend. Bulls tested this supply zone but faced immediate rejection, leaving it unclear whether buyers have the conviction to breach resistance decisively.

    Source: $RUNE/USDT on TradingView

    On-chain and derivative metrics offer mixed signals. Cumulative Volume Delta (CVD) data shows aggressive accumulation, with 1.78 million $RUNE bought on Binance as of press time. Meanwhile, a Sentiment reading of 80 indicates the crowd is convinced the rally is sustainable. Yet the move remains largely sentiment-driven, raising the risk of a short-lived spike if the market structure fails to confirm a trend change.

    Key Takeaways

    • $RUNE surged over 26% in 24 hours after the THORChain v3.20 upgrade, leading all top-200 crypto assets.
    • The upgrade enables direct swaps for Monero (XMR) and Zcash (ZEC) into BTC, ETH, and stablecoins, expanding THORChain’s user base.
    • Short liquidations were extreme, with shorts liquidated at roughly 10x the volume of longs.
    • Price remains below the critical $0.65 resistance; a successful flip to support would confirm a structural shift to bullish.
    • CVD and sentiment data show strong buying interest, but sustainability depends on whether the rally transitions from sentiment-driven to structure-confirmed.