Ukraine has received a lot of donations in the form of Bitcoin (BTC) and Ethereum (ETH) cryptocurrency tokens, especially as the war with Russia has entered its second week.
Since Moscow ended up invading on February 24, Ukraine has received 106,000 cryptoasset donations, which at the time of writing are totaling $56.2 million.
Millions in Donations
Some of the donations are going to the Ukrainian Government directly, while others are going to “Come Back Alive,” which is an NGO that provides support to the military.
All of this is based on data published by the blockchain analytics firm, Elliptic.
Source: Elliptic.co
According to the report, some of these donations come from Gavin Wood, the founder of Polkadot, which donated $5.8 million, alongside a CryptoPunk NFT worth over $200,000.
The total value of donations received by the Ukrainian Government is $48 million, while the others were received by Come Back Alive.
Ukraine also recently expanded its crypto donation options to include the DOGE cryptocurrency token.
On the Flipside
- UkraineDAO auctioned off an NFT of the Ukrainian flag for $6.5 million in ETH, which is the 10th most expensive NFT ever sold, and the proceeds will be donated to the NGO.
Why You Should Care
The majority of the donations which have been received to date are in the form of Bitcoin (BTC) and Ethereum (ETH) tokens, although US dollar stablecoins also contribute to a significant proportion, which could lead to an increase in the value of these tokens, as well as to the overall mass adoption.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7] You can always unsubscribe with just 1 click.
