Key Takeaways
- Monero faced a 51% attack by QUBIC pool, triggering a 30% price drop.
- LayerZero proposed a $110M acquisition of Stargate via token swap, sparking mixed8 reactions.
- Pump.Fun rebounded strongly with massive buybacks but faces sustainability risks.
The crypto world struggled9 with a variety of events this week, including a network attack on Monero, LayerZero offering an unbridled takeover bid for Stargate, and Pump.Fun’s increasing popularity within the Solana meme community.
Monero Hit by 51% Attack
On August 12, 2025, there was a challenge to the Monero network’s stability in which the QUBIC pool was able to take over more than 51% of the hashrate, leading a fear of double-spending and chain reorganizations. As a result of the event, XMR price went down drastically and dropped nearly 30% to about $240. The community discussions are still split—some talk about the attack’s unsustainability due to its daily cost (~$7,000–$10,000), while others emphasize the serious risk of centralization. Apart from the FUD, Monero’s loyal community dues the potential of protocol reforms that might be the project’s long-term solution.
LayerZero’s $110M Stargate Bid
LayerZero has just made a very significant industry move by announcing that they are ready to take over Stargate (STG) with a $110M offer through token swap (1 STG = 0.08634 ZRO). Shockwaves were sent in the two markets as both tokens surged; ZRO went up by 23% and STG by 16.5%. Nevertheless, the community’s takeaway from the news has not been unanimous. STG supporters have the most to say as they accuse the offer of not only undervaluing the token but also reducing the holder’s rights, on the contrary, the proponents of the deal think the project will be easing its way into quick development and solid liquidity. Now, the DAO vote will decide the way forward.
Pump.Fun Rebounds with Buybacks
Meanwhile, Pump.Fun executed a massive 1.75B PUMP token buyback in 24 hours, reinforcing its dominance as the leading Solana meme coin launchpad. Platform revenues remain strong, with over $3.5M recently reported. Social sentiment is bullish, comparing its momentum to early DeFi mania, but critics warn of unsustainable hype, scam tokens, and reputational risks if growth relies too heavily on speculation.
Summary
The week highlighted crypto’s volatility: Monero’s 51% attack exposed network risks, LayerZero’s Stargate deal revealed governance tensions, and Pump.Fun’s rebound underscored both innovation and fragility in meme ecosystems.
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