main socket
- Facebook is facing an outage for several hours; It appears that his domain has been omitted from the global routing tables.
- The incident caused the Bitcoin market cap to exceed Facebook’s market at various times today.
- Bitcoin has surpassed Facebook’s market cap at least twice this year, once in April and once in January.
Share this article
Facebook suspended the service for several hours, allowing Bitcoin to briefly surpass the company’s market capitalization today.
The reason for the break is not clear
The incident affected not only the main Facebook website but also its secondary apps, WhatsApp and Instagram.
Facebook said it “recognizes that some people are having trouble accessing our apps and products” and that it is “working to get things back to normal as quickly as possible.”
The interruption appears to have an internal cause. It looks like the Facebook domain name was delete from global IP routing tables, Something that can only be done from within Facebook itself. Meanwhile, it was reported that the staff were close In Facebook’s main building, which indicates that Facebook is keeping its systems under tight control.
The outage does not appear to be caused by third parties, as in the case of a DDOS attack, nor does it appear to be the result of an external service failure such as a CDN/DNS failure.
While commentators have speculated about the possibility of internal sabotage or system reconfiguration failure, the exact nature of the problem remains unclear.
Bitcoin briefly surpasses Facebook’s rating
Today’s power outage has resulted in Bitcoin overtaking Facebook in terms of market capitalization. While Facebook’s price dropped to $923 million at one point, the BTC market cap has briefly reached $929 billion today.
This made Bitcoin the sixth largest asset in AssetDash after Apple, Microsoft, Saudi Aramco, Alphabet A (Google), and Amazon.
Bitcoin has previously surpassed Facebook’s market cap at least twice this year. Those events were highlighted by Gemini Cameron Winklevoss In January and Binance Changpeng Zhao in April.
The rapid price change means that these assets have swapped positions multiple times. As such, this prestige is unlikely to last for long.
Disclaimer: At the time of writing, this author owns less than $75 worth of Bitcoin, Ethereum, and altcoins.
Share this article