Ukraine Imposes Martial Law On Crypto Purchases; Polygon dives deep into Web 3; BTC, SHIB fall

The Central Bank of Ukraine has limited purchases of cryptocurrencies in its national currency, the Ukrainian hryvnia, to “prevent an unproductive outflow of capital from the country.”

Polygon (MATIC) plans to invest $100 million in customizable “supernet” chain projects that will allow developers to run their blockchain applications at a lower cost. This project is part of Polygon’s Web 3.0 developments. Read more about Web 3.0 here.

cryptocurrency prices

The global crypto market cap fell 1.71 percent to $1.84 trillion as of 8:50 a.m. Global crypto volume also fell 24.98 percent to $79.98 billion, according to Coinmarketcap data.

Bitcoin (BTC), the world’s oldest cryptocurrency, traded at $39,528.43, down 2.45 percent over the past 24 hours. Ethereum (ETH) was also down 1.29 percent at $2,959.27.

“Bitcoin fell below $40,000 and altcoins tumbled lower, suggesting the current pullback may be temporary. Right now, trading conditions are implying uncertainty that traders are experiencing due to ongoing macroeconomic and geopolitical risks,” says Gaurav Dahake, CEO and Founder. Bitbns.

1/5 *Super* is excited to introduce #PolygonSupernets powered by @0xPolygonEdge! 🦄💫

Polygon Supernets are dedicated, scalable blockchains that aim to drive mass adoption of Polygon and Web3.

To support this ambitious product and goal, we are announcing a $100 million endowment fund. 💜 pic.twitter.com/UoaHlWzbeT

— Polygon 💚 (@0xPolygon) April 22, 2022

Among other major coins, Cardano (ADA) fell 2.47 percent to $0.8941, Algorand (ALGO) traded down 0.99 percent to $0.7144, Binance Coin (BNB) fell 1.7 percent percent at $402.80, Solana (SOL) was also trading down 2.54 percent to $99.92, and Polkadot (DOT) fell 0.28 percent to $18.24.

Today’s top gainer was Shaman King Inu (SHAMAN), who is up 1190.8 percent to $0.000000000003315. The biggest loser was Coinerr (ERR), which fell 98.85 percent to $0.00002133.

Meme Coin and DeFi prices

Dogecoin (DOGE) fell 1.09 percent to $0.1351. The volume to market cap ratio is 0.02694. Rival Shiba Inu (SHIB) is down 1.39 percent to $0.00002412.
Dogelon Mars (ELON) is down 3.29 percent to $0.0000009473, Floki Inu (FLOKI) is down 5.04 percent to $0.00002571 and Samoyed Coin (SAMO) is down 1.47 cents to $0.01869.

In the DeFi segment, YFI (yearn.finance) declined 0.83 percent to $18,654.73, Terra (LUNA) traded down 0.36 percent to $92.09, Avalanche (AVAX) lost 2, 9 percent to $73.58, Uniswap (UNI) fell 0.01 percent to $8.97 and Aave (AAVE) fell 1.85 percent to $175.67.

Kyiv

Latest news

Ukraine was already under martial law when Russia invaded. But so far, martial law has not been imposed on cryptocurrency purchases. The Central Bank of Ukraine said in a press release that individuals could buy cryptocurrencies worth only up to 1,00,000 Ukrainian hryvnia per month and no more. This limit also applies to cross-border P2P transactions.

“The infrastructure tools allow users to easily and quickly achieve the results they want. Polygon’s goal is to bring Web 3 to mass adoption, as the key to blockchain adoption is to offer businesses a full range of options,” said Sandeep Naliwal, co-founder, Polygon, told Coindesk in a statement.

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