As Russia attacked Ukraine, many people have started donating the Ukrainian army in cryptocurrencies to help them, and in the last 24 hours, people have donated more than $400,000 worth of Bitcoins have been donated to only one group. Come Back Alive, a Ukrainian non-government organization (NGO)that raises crypto funds for the Ukrainian army has received more than $400,000 worth of digital tokens in the past few days, according to the research from the blockchain and crypto analytics firm Elliptic. The common amount has donated is around $1,000 to $2,000. The group has earned at least 317 personal donations in the last 2 days. Here we will share more information about this, so keep reading.
Donations have been pouring into Ukraine as it braced for an invasion by Russia. On Thursday, Russia has launched a full-blown army assault on the country. Russian force at the latest reportedly captured the infamous Chernobyl power plant. The U.S among the nations imposed heavy sanctions on Russia as the offensive continues. Crypto markets took a big hit on the invasion news Thursday evening liquid around $242 million in mere house. In Ukraine, people have started to seek out crypto as a safe haven.
Pro Ukraine groups and pro-crypto parties on social media platforms like Twitter and Facebook and other sides also contributed. The surge of donations in cryptocurrencies signifies that digital assets have “emerged as an important alternative funding method, allowing international donors to bypass financial institutions that are blocking payments to these groups,” according to Elliptic. The wallet in queries has already been disbursed $150,000 worth of Bitcoin it has received so far. All funds received by Charitable Foundation are used exclusively for the needs of the army. Their analysis shows that hundreds of Crypto asset donations totaling several hundred thousand dollars have been made this group increasing by over 900 percent in 2021.
Also Read: SOL Price Forecast 2022
Elliptic had recognized some cryptocurrency wallets used by these volunteer groups and NGOs, which had collectively received funds totaling just over $570,000 much of it over the past year. The Ukrainian cyber Alliance has earned close to $100,000 in Bitcoin donations over the last year. Ukraine’s ministry of security has also set up a designated bank account to accept donations for troops in legal currencies. Cryptocurrency prices have plummeted in the past two weeks over fears of a Russian invasion of Ukraine and the market has lost $150.Here we have already shared all the information related to this news. stay tuned for more updates.