Crypto and Web3 remain unperturbed despite technical glitch

The financial market has faced headwinds today following a Microsoft glitch. This has seen institutions such as the London Stock Exchange, airlines, and banks face severe impacts. However, cryptocurrency markets and exchanges remain clear with positive comments from the industry.

Cryptocurrency market remains unchanged

The glitch that is shaking financial institutions has not yet left any traces on the cryptocurrency market. At press time, major cryptocurrency exchanges, DeFi projects and protocols remain active with growing volumes. Cryptocurrency executives have emphasized the underlying value of blockchain technology amid resistance from financial intermediaries. However, many fear the impact on broader economic sentiment, a stock slump could limit market momentum.

Blockchain analytics firm Nansen has attacked centralized finance by proposing decentralized finance (DeFi) models. The company added that blockchain technology can solve this disruption. Meanwhile, the co-founder of SolanaAnatoly Yakovenko wrote on X (formerly Twitter) that the machines are thin clients inside a giant Windows computer.

Cryptocurrency users also reacted to Microsoft’s outage, pointing to blockchain development to prevent glitches in financial interactions and business transactions. User X, @emilyjnicolle wrote: “

Microsoft glitch leaves the world in shock, and yet… cryptocurrency exchange status pages remain clear?”

However, several market commentators say that while Microsoft’s outage has not affected the structure of cryptocurrency firms, it could have an impact on macro trading sentiments. Recent institutional investments in Bitcoin and other crypto assets have seen the market trade in correlation with stocks amid massive macro impacts. Market observers believe this could hamper cryptocurrency price recovery efforts.

Microsoft Outage Shakes Institutions

Global institutions have suffered significant disruptions due to technical issues. This includes banks, airlines, supermarkets and financial exchanges. A company official said an investigation into the matter was being conducted.

“We’re investigating an issue that’s preventing users from accessing various Microsoft 365 apps and services.”

In the United States, several 911 classes have been disrupted as other countries grapple with airline check-in. Related issues and challenges. The company announced that the cause of the outage has been resolved, citing the remaining impact of the outage on Office 365 apps and services. Meanwhile, airport officials have asked airlines to provide better service to delayed travelers.

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