During the tumultuous CrowdStrike outage, while conventional systems rushed to restore functionality, Bitcoin and the cryptocurrency market surged upwards.
Decentralized technology once again demonstrated its resilience on Friday amidst a widespread IT disruption affecting banks, media outlets, travel services, and numerous everyday functions. As Web2 activities ground to a halt in several regions worldwide, Web3 markets flourished, reportedly impacting more than 150 million individuals.
Taking advantage of the situation, U.S. Senator Cynthia Lummis, an advocate for cryptocurrencies, highlighted Bitcoin’s capability to operate seamlessly and evade centralized points of failure.
In other news:
– Polymarket’s major bet faltered as Bitcoin was omitted from Trump’s RNC speech
– Bitcoin achieved its highest value in a month
– The total cryptocurrency market surpassed $2.5 trillion for the first time this month. The significant market upturn propelled Bitcoin above $66,500, marking a one-month peak. Leading the market gains among the top 10 cryptocurrencies by market cap was Solana (SOL), which surged by over 9% to reclaim $170. Ethereum (ETH) also saw a 3% increase, pushing its price to $3,500.
BTC surges amidst CrowdStrike outage impact
On Friday, PAAL AI Launchpad emerged as the biggest gainer in the cryptocurrency market, soaring by more than 103% at the latest check.
Additionally, ecosystems like TRY Stablecoin, Decentralized Identifier, Farming-as-a-Service, and Pump.fun memecoins all experienced at least a 20% rise as the digital asset market enjoyed a bullish day. In contrast, the S&P 500 and global stock markets saw slight declines due to the fallout from the CrowdStrike incident.
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