TL;DR Breakdown
- Ukraine continues to accept crypto donations from all around the world.
- The government announces the acceptance of Dogecoin to raise funds.
- Millions in crypto donations continue to make their way for Ukraine.
The Russian invasion of Ukraine has remained in the headlines for a few days now. The conflicts are continuously increasing as the tensions are rising on a global level. Russia is facing severe backlash from all over the world. The Western world along with the US have put certain sanctions on Russia. Due to this, the Russian economy and financial markets have struggled majorly.
On the other hand, Ukraine has been asking for the support of international communities. Donations have been coming in for the war-stricken Ukrainian people. The government also issued a wallet address to accept donations in cryptocurrencies. The Vice President has stayed vocal about these crypto donations for a few days now. The crypto market has also been very responsive to all these developments.
Ukraine to accept Dogecoin after Bitcoin and Ether
In a recent development, the Vice President of Ukraine Mykhailo Fedorov tweeted that the country has enlisted Dogecoin in its list of crypto donations. His tweet read that “now even meme can support our army and save lives from Russian invaders.”
He also added the wallet address for $DOGE donations in his tweet. Moreover, the Vice President called out the Co-founder of Dogecoin and popular billionaire, Elon Musk to support the cause against Russian invaders. It was the latest crypto related move of the Ukrainian Government.
Elon Musk has been quite vocal and supportive of Dogecoin. Thus, Ukraine has tried to use this to its advantage. Previously, the President has also called out Elon Musk to provide internet service across Ukraine. Musk responded to this by stating that the operations of Starlink were live all across Ukraine.
Crypto donations continue to pile up for Ukraine
The Ukrainian Government started accepting crypto donations last week. Vice President Fedorov tweeted the wallet addresses of Bitcoin and Ethereum, announcing that the country will now be “accepting cryptocurrency donations.” People from all over the world have donated generously after the call to action.
According to an estimate, Ukraine was able to amass a total of over $20 million in BTC and ETH. It shows that the plea for donations proved to be immensely fruitful, as the funds piled up to support the Ukrainian army and people against the Russian forces.
Ukraine also started accepting Polkadot Donations. The government announced this through a tweet almost one day ago. After Polkadot, Dogecoin was also added to the list of accepted crypto tokens. The Co-Founder of Dogecoin, however, tweeted in response to the Vice President’s tweet. After this, funds have been transferred to the DOGE wallet address. The tally is now up to over $38,350 in DOGE tokens.
The Ukrainian Government has also announced an airdrop for March 3. It will be held at 6 pm according to Kyiv time. It has been reported that a total of over $35 million has been raised by Ukraine in its crypto donation funds. The amount is constantly increasing as the country keeps on adding more crypto tokens to the list.
This is also having a positive impact on the performance of the overall crypto market that has seen a turn of events since the start of the war. Experts believe that the Russia and Ukraine crisis will prove to be ‘extremely bullish’ for Bitcoin. Therefore, we have seen that Bitcoin was able to rise from the lows of under $40K. The positive impact could further strengthen in the coming days.
