• Crypto-donations have taken an important part in the conflict between Ukraine and Russia
• Project Squid Squad OG successfully manages to get donations for Ukraine
Ukraine has been getting stronger through the cryptocurrency market due to the decentralized scheme managed by the Blockchain. The country in Europe was attacked by Russia last February, and since then, casualties have been reported on both poles. Still, the Ukrainian territory has been the most affected, and several countries have shown their support through donations where cryptocurrencies play a fundamental role.
Crypto trading has gained priority worldwide because it shares a Decentralized network that everyone has access to. Tokens like Bitcoin have a unique value that can be used in Ukraine, the United States, or some Latin countries.
Crypto donations arrive in Ukraine
After more than five months at war, Ukraine has adapted to the crypto trade due to the great donations wave in the country. According to the web platform “Giving Block,” crypto donations increase simultaneously with the market adoption worldwide.
The website and philanthropy agency clarifies that the boom in crypto-donations is caused because the tokens work in a generalized way. Therefore, they can be used by each person regardless of the country where people are located. The country can be a reference point for the latest adoption wave where various entities and people worldwide have solidarity with citizens.
According to reports, the country got around $63B in crypto donations in March alone. In subsequent months the figure increased considerably, according to the graphs shared by tradingplatforms.com.
Projects in decentralized finance within Ukraine
Not only have crypto-donations been present in Ukraine, but projects in decentralized finance or DeFi have recently been executed. One of the most current projects is “Squid Squad OG,” a virtual game linked to the Blockchain network. Konstellation, which would correspond to the company that makes DeFi projects for Ukraine, had the good fortune to donate about $14,000 to the country after closing its donation plans.
Although the war between Ukraine and Russia has ceased over the months, this has not stopped crypto donations between various NGOs and global philanthropy agencies. Konstellation’s “Squid Squad OG” project is still running despite its initial fundraising round being closed so interested parties could purchase their SSOG NFTs on the website. This Defi plan is inspired by the famous Netflix streaming server series “Squid Games.”
The movement in crypto-donations does not positively or negatively affect virtual commerce, but it has been a way of demonstrating that the technology is available to fulfill these purposes. The last two years or so have seen increased donations with cryptocurrencies.