Bitcoin, Ethereum and USDT Donations to Ukraine Hit $13M

Bitcoin, Ethereum and USDT Donations to Ukraine Hit $13M
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  • Encrypted crypto donations to Ukraine have hit $13 million
  • This includes 1,349 Ethereum, 204 Bitcoin and various amounts in Tether (USDT) and USD Coin (USDC)
  • The donations of Ethereum and Bitcoin could be what has stabilized the value of BTC and ETH in the last few days
  • A constant flow of crypto donations and the use of crypto in Ukraine could benefit the markets

The value of encrypted crypto donations to assist Ukraine in its efforts to repel Russia has hit a new milestone of $13 million. This development was shared by @WuBlockchain through the following statement and accompanying breakdown of crypto donations.

SlowMist released the statistics of Ukraine’s encrypted donations. As of 12:30 today (UTC+8), a total of 1349 ETH, 204 BTC and some stablecoins have been raised, with a total value of about 13 million US dollars.

Bitcoin, Ethereum and USDT Donations to Ukraine Hit $13M 7

Crypto Donations to Ukraine Could be Beneficial to the Markets

Further reiterating @WuBlockchian, the amount of crypto donations to Ukraine has been in the form of 1,349 Ethereum (ETH), 204 Bitcoin (BTC) and various amounts in Tether (USDT) and USD Coin (USDC).

This then could mean that the demand by donors to purchase Bitcoin and Ethereum, could be behind the price stability being witnessed in the crypto markets. Buying BTC and ETH to assist Ukraine is potentially aiding in the ongoing crypto market recovery.

At the time of writing, Bitcoin is a few hundred dollars shy of $40k with Ethereum trying to capture the $2,800 price level as support. These values are approximately 16.5% and 21.7% higher than the local lows of  $34,322 and $2,300 experienced on February 24th, when Russia began its onslaught on Ukraine.

Vitalik Buterin Reminds Private Donors to Vet Each Crypto Address

The process of donating crypto to the humanitarian efforts in Ukraine has not been spared by scammers and tricksters.

This has then led the founder of Ethereum, Vitalik Buterin, to caution the crypto community to ‘continue to be vigilant, and always be slow and careful when sending irreversible crypto transactions.’ Mr. Buterin’s observations and insights on donating crypto to Ukraine can be found in the Tweet below.

Mr. Buterin had earlier flagged a Tweet and crypto address as being potentially belonging to a scammer. He soon withdrew his statements after he confirmed that the pleas for crypto donations were genuine.

[Feature image courtesy of Photo by Max Kukurudziak on Unsplash]

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