Major social media and advice platforms Facebook, Instagram and WhatsApp went offline Monday equally the toll of Bitcoin and other cryptocurrencies surged.

As data from Cointelegraph Markets Pro shows, Bitcoin (BTC) price moved above $49,000 afterward falling to a daily low of $47,166, an increment of roughly four.v% in less than two hours. Similarly, the price of Ether (ETH) rose 3.5% over the same flow to accomplish $three,411 at the time of publication.

The sudden price volatility comes as major social media platform Facebook, photo and video sharing app Instagram, and messenger app WhatsApp — both owned by Facebook — went downwardly at approximately 3:16 pm UTC on Oct. iv. Co-ordinate to Facebook's communications team, which communicated through Twitter, the visitor was "working to go things back to normal as rapidly as possible."

At roughly the same time on March thirteen, 2022, all 3 platforms reported a major outage that lasted more than 24 hours. At the time, Facebook attributed the problems to a "server configuration change."

The interruptions may impact community engagement around crypto and blockchain projects, only Discord, Twitter, YouTube and many other platforms are still functioning commonly. Many Crypto Twitter users are already using the incident to highlight the need for a decentralized social network built on blockchain.

"If they built Facebook on a blockchain, it would never go downward," said Allen Farrington, who regularly writes near Bitcoin and cryptocurrencies on his Medium blog.

The outage also follows onetime Facebook employee Frances Haugen turning over to journalists and others thousands of documents that imply that the company was not doing what information technology claimed in regard to removing from the platform hate speech and posts encouraging violence, amid other things. Facebook's stock fell by more than than 5% on Monday to attain $324.90 at the time of publication.

Related: How the Bitcoin model tin solve the social media dilemma

Twitter is already working on its ain decentralized social media initiative. CEO Jack Dorsey first announced in Dec 2022 that the platform would be funding a defended team to develop a decentralized standard for social media, and recently hired a crypto developer to lead the group. At the time, Dorsey said the aim was to shift away from content hosting and removal to recommendation algorithms directing users' attending and to avoid content that sparks controversy and outrage rather than healthy and informative conversations.

This story is developing and may exist updated.