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El Salvador, the only country in which bitcoin is a legal tender, is going to build an entire city based on the largest cryptocurrency, President Nayib Bukele told a raucous crown in a Saturday night presentation at Bitcoin Week in El Salvador.“Bitcoin City” will be located along the Gulf of Fonseca near a volcano. The government plans on locating a power plant by the volcano to provide energy for both the city and bitcoin mining, the president said.Several other leading cryptocurrencies, including Ethereum (ether), Solana (SOL), and Cardano (ada), as well as the meme coins dogecoin and shib inu, have also dropped in value this week.Most of the top 10 cryptocurrencies are down by between 6 to 10 per cent, with a flash crash on Tuesday coming less than a week after several of them hit all-time highs.Bitcoin’s price has held firm above $58,000, bolstered by the rollout of the long-awaited Taproot update over the weekend, which improves both the privacy and security of BTC. https://www.openlearning.com/u/kjerpanduro-r2xn4d/blog/ElSalvadorToCreateBitcoinCityUse500MOfPlanned1BBondOfferingToBuyMoreCrypto -Fried detailed some of the areas that he wished he had learned about earlier, from overarching themes dominating the crypto space to some of the more nuts and bolts aspects of operating an exchange.“I think that there's a lot of opportunities in the space that did not gel to me until the last year,” Bankman-Fried said. “I think one of them is thinking about what the consumer financial experience would look like, what a comprehensive one could look like.”The price falls wiped more than a hundred billion dollars from the overall crypto market, though it remains above $2.5 trillion.