Ukraine Receives More than $31 Million in Bitcoin and Ethereum

With cryptocurrencies becoming widely recognized as valuable assets, they’ve also been the primary way to fund causes in need of financial support.

According to statistics issued by the blockchain analytics firm Elliptic, the two digital wallet addresses posted by the Government of Ukraine received approximately $31.7 million worth of cryptocurrencies in Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Polkadot (DOT).

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More than that, the government confirmed that there will be an airdrop rewarding Ukraine supporters presumably with tokens and NFTs.

The week after the invasion of Ukraine has been quite up and down in the cryptocurrency realm. Right after the first moves were made by Russia, Bitcoin dipped by about 8%, falling below 35k. However, just a few days later, the price shot up by almost 17%, surpassing the initial price before the conflict, reaching nearly $44.6K on the 1st of March.

At the time of writing, Bitcoin has seen a significantly slower trading volume - a 16.87% decrease over the past 24 hours. However, the price of BTC seems to be on a stable trajectory, going up by 1.23% since yesterday and currently averaging $44,097.32.

Aaron S., Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
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Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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