Bitcoin
Bitcoin Targets $67K Amid CrowdStrike Outage Disaster
As traditional systems raced to address the CrowdStrike outage, Bitcoin and the cryptocurrency market surged.
Decentralized technology once again took center stage on Friday as a global IT outage disrupted banking, media, travel and a host of day-to-day operations.
Web3 markets have boomed while Web2 activity has slowed to a crawl in some parts of the world, with over 150 million people reportedly affected. Pro-crypto US Senator Cynthia Lummis has seized on the situation to to remember the Bitcoin audience (BTC) ability to execute flawlessly and ignore centralized points of failure.
Do you know which form of currency has not been affected by widespread cyber outages? Bitcoin.
Vires in Numeris
– Senator Cynthia Lummis (@SenLummis) July 19, 2024
Bitcoin hits one-month high
The total cryptocurrency market cap rose more than 3% to $2.5 trillion for the first time this month. The market rally pushed Bitcoin above $66,500, a one-month high. Solana (SUN) led market gains among the top 10 cryptocurrencies by market cap. SOL surged over 9% to reclaim $170, while Ethereum (ETH) A 3% increase in price took the asset to $3,500.
BTC surges as CrowdStrike outage rocks the world
PAAL AI Launchpad claimed the biggest gains of any cryptocurrency market on Friday. Data showed the sector grew by over 103% and was surging at the time of publication.
Ecosystems such as TRY Stablecoin, Decentralized Identifier, Farming-as-a-Service, and Pump.fun memecoins also surged by at least 20% as the digital asset market had a green day. On the other hand, the S&P 500 and global stock markets fell slightly due to the CrowdStrike debacle.
There appears to be a global outage with multiple IT systems down. Airlines, banks, emergency responders and media outlets.
But #Bitcoin continues to work.
Block by block.
— Nic (@nicrypto) July 19, 2024