Bitcoin Price is Crashing Today 

It's been a tough few hours for bitcoin as the price has crashed from around $22,600 to below $20,100 at the time of writing. The sell-off was triggered by some disappointing US inflation data which came in above expectations, leading to concerns that the Fed may start to tighten monetary policy sooner than previously thought.

This has led to a sharp increase in the US dollar, which is bad news for bitcoin as the majority of trading takes place in dollar-denominated exchanges. The price had been on a good run in recent days, but this latest sell-off has wiped out all of those gains and then some.

It's still early days, but this could be the start of a more prolonged period of selling as traders take profits and head for the exits. The next few hours are going to be critical in determining the short-term direction of the market.

One thing is for sure, it's going to be a volatile ride. So, strap in and get ready for some more wild price swings.

Signs That the Crypto Market is Nearing a Bottom

The $20,000 mark is now the most psychologically important level for Bitcoin to hold. Despite this latest setback, there are indications from recent crypto price action that the market is nearing a bottom.

On note to that, the institutional front is seeing continued developments with the latest reports of fund giant Fidelity opening up its 34 million retail brokerage accounts to bitcoin trading. With the institutional investors getting involved in the cryptocurrency space, it is only a matter of time before we see even more mainstream adoption of digital assets.

Fidelity Investments, one of the world’s largest asset managers, is considering a plan to let individual investors trade bitcoin on its brokerage platform, according to people familiar with the matter.

The move would mark the latest foray into cryptocurrencies by a major financial institution and could help legitimize the asset class among mainstream investors.

Russia may begin accepting bitcoin and some cryptocurrencies as payment for international trade in 2023, per a report from local media company Izvestia.

The Russian government is reportedly considering the possibility of using cryptocurrencies to settle international trade deals, in a move that could see the country become one of the first major nations to do so.

The news comes amid a growing push by Russia to legitimize cryptocurrencies and their use within the country. Earlier this year, the Russian government announced plans to launch its own cryptocurrency, the “cryptoruble”, and has since been working on legislation to regulate the crypto industry.

Now, it seems that the country is also considering using cryptocurrencies to settle international trade deals. According to Izvestia, a high-level government working group has been set up to explore the possibility, with a report on the matter expected to be delivered later this year.

“We have a number of legislative initiatives that we are working out in working order, but which have not yet been formally submitted to the government,” Chebeskov said (director of the financial stability market for the Russian Ministry of Finance).

The market may be down, but it's definitely not out with latest institutional market drive.

Is Now the Time to Buy Solana at $38?

The past week has been a volatile one for the cryptocurrency market, with prices swinging up and down. However, Solana (SOL) has been one of the few coins to consistently rise during this period. In the past 24 hours alone, the coin has risen by 5%, moving from $36.82 to $38.67. This represents a 20% jump in the past week and a 19% increase in the last 14 days.

So, what’s driving this bullish run?

There are a few factors that could be at play.

First, Solana recently announced that it had secured $20 million in funding from a number of high-profile investors, including Andreessen Horowitz, Polychain Capital, and FTX. This injection of capital is likely to have given the project a boost and increased confidence among investors.

Second, Solana is one of the few cryptocurrencies that is actually being used in the real world. The Solana platform is being used by a number of high-profile projects, including Serum, a decentralized exchange, and Bitwise, a cryptocurrency asset manager. This real-world usage is likely to be driving up demand for the coin.

Third, Solana’s technical team is strong and has a proven track record. The team is led by Anatoly Yakovenko, who previously worked on projects such as Cosmos and EOS. This gives investors confidence that the Solana team knows what they’re doing and that the project has a bright future.

Fourth, Solana is looking to integrate with Helium, a move that will no doubt help expand the reach of the Solana network. Helium is a decentralized wireless network that allows for the easy and secure transfer of data. This is a perfect fit for Solana, as the two projects share a similar vision of decentralization and security.

In addition to the Helium integration, Solana is also working on a integration with Hivemapper. Hivemapper is a service that allows users to create and share 3D maps of their surroundings. This is an exciting development for Solana, as it will allow users to map out their own decentralized applications and services.

These are just a few of the many developments that Solana has in the works. With so much going on, it's no wonder that the Solana token is on the rise. With the cryptocurrency market still in a volatile state, it’s possible that we could see Solana’s price continue to rise in the short-term.

Ethereum Price Predictions for 2022 – Is $2,000 the New Target?

Currently, Ethereum is down 6.81% on the 24-hour time frame. However, ETH has still managed to move up 2.96% against Bitcoin. This is a positive sign for Ethereum holders, as it shows that the demand for ETH is still strong.

The Merge event is scheduled to take place on September 15, 2022 (https://www.ethernodes.org/merge). This is when the Ethereum blockchain will officially merge with a new blockchain version powered by PoS consensus.

Holders are confident that the Merge will be a success and that Ethereum will finally surpass Bitcoin in terms of market capitalization. They are also excited about the prospect of earning higher rewards for holding ETH.

According to Coinmarketcap, Ethereum is currently $1,596 and has a market capital of $195 billion. Over the last 24 hours, Ethereum has seen an increase in trading volume by 25.18%. This is yet another bullish sign that a rally could potentially be on the way.

Investors are becoming increasingly bullish on Ethereum as the network continues to see adoption and usage grow. With more and more companies and developers building on Ethereum, the platform is only going to become more valuable.

Starbucks Takes a Big Risk on Web3

In case you missed it, Starbucks, the world's largest coffeehouse chain, is diving into the Web3 and non-fungible tokens (NFTs) space with plans to launch a blockchain-facilitated loyalty program called Starbucks Odyssey.

Yes, you read that right. The same coffee company that brought you the Pumpkin Spice Latte is now looking to bring blockchain technology to its loyalty program.

In the case of Starbucks Odyssey, the NFTs will be used to represent rewards that can be redeemed for free coffee or other goodies.

So, why is Starbucks doing this?

Well, there are a few reasons. First, it's a way to get more people using its loyalty program. Second, it's a way to reward its most loyal customers with something that has real value. And third, it's a way to stay ahead of the curve. As more and more companies begin to experiment with blockchain technology and NFTs, Starbucks is positioning itself as a leader in the space.

This is a smart move, as it could pay off big in the long run. So, if you're a Starbucks fan, keep an eye out for more details about the Odyssey program.

Starbucks Dives Into Cryptocurrency With New Blockchain Platform

This new program will be built on the Polygon blockchain, and the Polygon team says that Starbucks' choice was strongly influenced by its low transaction fees, high throughput, and Proof-of-Stake (PoS) consensus mechanism.

One of the main reasons why Starbucks chose to build the Odyssey program on Polygon is because of its low transaction fees. With Polygon, users only have to pay a small fraction of a cent in order to make a transaction. This is a stark contrast to other blockchain protocols, where users have to pay a few dollars in order to make a single transaction.

Another reason why Starbucks decided to go with Polygon is because of its high throughput. As mentioned before, Polygon is able to process thousands of transactions per second. This is important for Starbucks, as they will be dealing with a large number of transactions on a daily basis.

This is a huge win for the Polygon team, and cements their position as a top-tier blockchain platform. We can expect to see more big names joining the Polygon network in the near future.

Ravencoin Skyrockets 14.8% to $0.0613 on Ethereum Merge Effect

There’s been a lot of talk lately about Ravencoin (RVN) and its recent price surge. Some people are speculating that the surge is due to old Ethereum (ETH) miners taking an interest in the coin as Ethereum’s Merge nears and the network moves away from Proof-of-Work (PoW) mining.

I think there’s a lot of merit to this theory.Ravencoin is a fork of Bitcoin and was designed with asset creation and transfer in mind. It’s a blockchain platform that allows users to create and trade assets in a decentralized manner.

The recent price surge could be due to the fact that Ravencoin is one of the few coins that is still actively mined with GPUs. As Ethereum moves away from PoW mining, a lot of miners are going to be looking for a new coin to mine. And Ravencoin is a logical choice.

5% Tamadoge Burn Sees Price Rocket on Pet Store Purchases!

The popular meme-based cryptocurrency, Tamadoge, is on track to reach its $19 million goal, and its 5% burn rate on pet store transactions could potentially drive up the price of the coin.

So far, Tamadoge has shown no signs of slowing down after hitting the beta phase of its pre-sale and the $16 million. At this point, it has reached the sixth milestone of its roadmap and is quickly approaching its goal.

One of the things that could help Tamadoge reach its goal is its 5% burn rate on pet store transactions. This means that for every transaction made using Tamadoge, 5% of the coins are burned.

This could potentially drive up the price of the coin, as the supply of Tamadoge will gradually decrease over time. Additionally, it will also create a built-in demand for the coin, as pet stores will need to keep buying Tamadoge in order to keep accepting it as payment.

So far, the 5% burn rate has not had a significant impact on the price of the coin. However, as Tamadoge gets closer to its goal, the burn rate could become a more significant factor in driving up the price.

Tamadoge Socials

• Website – tamadoge.io
• Instagram – @tamadogecoin
• Telegram – t.me/tamadogeofficial (admins will never DM you first)
• Twitter – @tamadogecoin

Conclusion

The end of the year is approaching and, with it, the end of the decade. As we reflect on the past 10 years, it's important to remember the progress that has been made in the cryptocurrency space. While BTC may have stolen the headlines in recent months, let's not forget about the other incredible projects that are making a difference. From the SOL network and Ethereum to Starbucks and Ravencoin, there are a multitude of projects making a positive impact.