While traditional systems raced to resolve the CrowdSpark outage, Bitcoin and the cryptocurrency market climbed upward.
Decentralized technology once again made a case for itself on Friday as a global IT outage disrupted banks, media, travel, and a litany of everyday operations.
Web3 markets boomed as Web2 activity slowed to a crawl in some parts of the world, with over 150 million people reportedly affected. Pro-crypto U.S. Senator Cynthia Lummis leveraged the situation to remind the public of Bitcoin’s (BTC) ability to run seamlessly and bypass centralized points of failure.
Bitcoin hits one-month high
The total cryptocurrency market was up over 3% and grew to $2.5 trillion for the first time this month. The widespread market uptick propelled Bitcoin above $66,500, a one-month high. Solana (SOL) led market gains among the top 10 cryptocurrencies by market cap. SOL surged more than 9% to reclaim $170, while Ethereum’s (ETH) 3% price bump took the asset to $3,500.
PAAL AI Launchpad claimed the largest gains of any cryptocurrency market on Friday. Data showed that the sector boomed by over 103% and was rising at press time.
Ecosystems like TRY Stablecoin, Decentralized Identifier, Farming-as-a-Service, and Pump.fun memecoins also rose at least 20% as the digital asset market enjoyed a green day. Conversely, the S&P 500 and global stock markets slid slightly due to the CrowdSpark debacle.
