Ukraine Crypto Donations Reach a Plateau; 40% of the Country's Military Suppliers Accept Crypto
Crypto donations to Ukrainian causes have slowed down over the weekend, while reports revealed that roughly 40% of Ukraine’s military suppliers accept crypto payments.
The Ukrainian government and non-profit organizations providing support to the military raised less than USD 2m over the weekend, according to data by the crypto security firm Slowmist.
Ukraine had raised USD 63.4m by March 4. That figure dipped to USD 62.2m on March 5, arguably due to the fall in prices of cryptoassets. By March 6, Ukraine's crypto donations reached just north of USD 64.1m, an increase of around USD 1.1m from two days earlier.
Notably, donations in ethereum (ETH) have eclipsed contributions made in bitcoin (BTC). As per the latest update by the crypto research firm Elliptic, ether accounts for 33.7% of all the crypto donations, while Bitcoin constitutes 31.2% of the donations.
"The majority of donations received to date have been in Bitcoin and Ether, although US dollar stablecoins contribute a significant proportion," Elliptic said. "But it’s not only cryptoassets that are being donated; people are also sending NFTs [non-fungible-tokens] to the Ukrainian government’s Ethereum account."
Despite the recent slowdown in crypto donations, charitable organizations from around the globe continue their fundraising campaigns to help the humanitarian crisis in Ukraine.
For one, Binance Charity, the philanthropic arm of major crypto exchange Binance, has donated USD 2.5m to UNICEF to fund the organization’s effort of helping Ukrainian children and their families.
"As the conflict escalates, it poses an immediate and growing threat to the lives and well-being of the country’s 7.5 million children," UNICEF said in an announcement, adding that the donations
Read more on cryptonews.com
