Bitcoin and the cryptocurrency market as a whole made big gains on Friday, even though traditional systems in banks, media, travel, and everyday life were interrupted by a global IT outage focused on CrowdStrike. This was a striking example of how resilient decentralized technology is.
It was bad for more than 150 million people around the world, and it showed how weak centralized organizations can be. Web3 markets did really well, while Web2 markets slowed down a lot. A senator from the United States named Cindy Lummis jumped at the chance to talk about how strong Bitcoin (BTC) is and how it can work without any set places of failure.
Bitcoin Surges Amidst Market Growth And CrowdStrike Outage
The market for all cryptocurrencies grew by more than 3% and reached $2.5 trillion this month, a new record. Thanks to this broad market rise, Bitcoin went above $66,500, the highest level in a month.
Out of the top 10 cryptocurrencies by market cap, Solana (SOL) made the most progress, rising over 9% to get back $170. The price of Ethereum (ETH) also went up by 3%, hitting $3,500.
On Friday, the PAAL AI Launchpad had the biggest gains in the coin market. Data showed a 103% rise, and it was still going up at press time. Things like Pump, TRY Stablecoin, Decentralized Identifier, and Farming-as-a-Service are also ecosystems that are very important. There were also big gains for fun memecoins. Each one went up by at least 20%.
But when CrowdStrike went down, the S&P 500 and other stock markets around the world fell a little. The event showed that decentralized and centralized systems had very different results. This supports the idea that cryptocurrencies are a good choice when controlled systems fail.
The success of the cryptocurrency market shows how popular and stable it is becoming, while traditional systems worked quickly to fix the CrowdStrike problem. In a world that is becoming increasingly computerized, this shows that decentralized technologies could help keep things stable.
