August 5, 2024: Traditional Brokerages Face Outages While DeFi Platforms, Powered by Chainlink, Operate Smoothly Amid Market Volatility

On August 5, 2024, multiple traditional financial brokerage platforms experienced significant outages amid heightened market volatility, leaving many retail investors unable to execute trades. In contrast, decentralized finance (DeFi) platforms operated smoothly during this turbulent period, demonstrating resilience and reliability. Users reported that DeFi systems, including those powered by Chainlink, remained fully operational, allowing for quick transactions and risk mitigation through stablecoins. The outages in traditional finance highlighted the advantages of decentralized financial infrastructure, which is characterized by its always-on nature, transparency, and open access. Observers noted that while traditional financial systems faced challenges, DeFi proved to be a valuable alternative, reinforcing the importance of self-custody and decentralized protocols in the financial landscape.