As the war in Russia continues the NFT collectors club announced their donation of $1 million to Ukraine. The donation came after about an identical amount was received from crypto wallets that also held a Bored Ape NFT. On March 8,389 ETH were sent from the BAYC address to the Ukraine cryptocurrency contribution address. This comes out to $1.05 million at current market prices.
$60 million worth of donations to Ukraine:
The Ethereum address currently accepting donations for Ukraine has reached a balance of 2,759 ETH. This is worth $7.5 million. However, the total sum of cryptocurrency donations is substantially higher. Elliptic, a blockchain data business has recorded all the donations given from the beginning of the Russian invasion on February 24th. Their records show that as of March 8th there were close to $60.5 million digital asset donations.
However, the sums sent have gone down significantly since March 4th.
Elliptic has noted that there have been more Ethereum donations in comparison to the other cryptocurrencies. The percentage goes as the following. There is 33.7% made in ETH, 31.2% in BTC, 17% in Stabecoin, and 14.5% in DOT.
Flipside Crypto broke down the details of the donations that have come in from Ethereum and USDT. They reported $25 million for both.
Merkel Science however reports a substantially higher figure of $88.6 million. This is the total crypto donations or Ukraine, the majority being in ETH.
Bloomberg reported on March 8th that Ukraine may issue crypto bonds to collect funding for national defense. Last week, the government raised $277 million through the issuance of a war bond with an 11 percent yield and a one-year maturity
War bonds issued by the government help fund military operations and various other expenses during wartime. they can also aid to reduce inflation by taking money out of circulation.