Data from Chainalysis, a blockchain analytics firm. It shows that as of February 2023, the one year anniversary of the war in Ukraine. The country has received over $70 million in cryptocurrency donations.

 

Ukraine Raises $70 Million in Crypto Donations

 

Since February 24, 2022, which is the beginning of the conflict of the Ukrainian-Russian war. Ukraine has announced acceptance of crypto donations. Chainalysis data shows that as of February 2023, the one year anniversary of the war, Ukraine received more than 70 million dollars in donations.

 

The most popular cryptocurrency is Ethereum (ETH), accounting for about 41% of all donations. It was worth $28.9 million, followed by Bitcoin (BTC) with approximately 32.5%, valued at $22.8 million, and Tether (USDT), which received 16.5% of the total and valued at approximately $11.6 million.

 

 

Crypto is the solution. ‘fast and safe’ people during war

 

Although donations are not as high as fiat currencies, this reflects the growth and role of crypto during these unusual times. Because at the beginning of the war People are flocking to withdraw money from ATMs that the traditional financial system has become unusable. Including hacking the banking system from Russia. This makes crypto a fast and secure solution for people at the moment.

 

The initiative to accept a wide range of digital assets came with the support of Deputy Prime Minister Alex Bornyakov. and Minister of Digital Transformation of Ukraine Twitter Announcement About Cryptocurrency Payments to supply the country with military equipment, armor, vehicles and medicines

 

Bornyakov told Yahoo Finance that about 80% of the donations came in the first few months of the war. and with the speed of digital currency This enabled the country to respond quickly to Russian aggression. which if it is the old financial system This can take several days.

 

Investing in digital assets is very risky and volatile. Investors should diversify their risks. research and plan investments carefully This article is for informational purposes only.

 

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