IDR 805.6 Billion Crypto Donations for the Ukrainian Military Collected, Bitcoin and Friends Strengthen All

JAKARTAKOMPAS.com – Market cryptocurrency looks bright today, Sunday (6/3/2022). Reported from Coinmarketcap this morning the 10 largest market cap crypto assets moved in the green in the last 24 hours.

The most sparkling cryptocurrency value this morning, was Terra (LUNA) which rose 4.7 percent at the level of 87.24 US dollars. Meanwhile, Polkadot (DOT) also rose 3.2 percent to 17.31 US dollars.

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Binance Exchange (BNB) and Cardano (ADA) were both up 2.8 percent at $384.9 and $0.86, respectively. Then Dogecoin (DOGE) also rose 2.06 percent to 0.12 US dollars.

The increase in crypto prices was followed by Ethereum (ETH) which rose 1.8 percent at 2,663 US dollars, then Solana (SOL) also rose 1.58 percent at 89.7 US dollars, and Bitcoin (BTC) strengthened 0.15 percent. at the level of 39,390 US dollars.

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This morning, Tether (USDT) rose 0.01 percent at the position of 1 US dollar, as well as USD Coin (USDC) which rose 0.03 percent at the position of 1 US dollar.

For information, USDT and USDC are crypto currencies of the stable coin class or types of cryptocurrencies created to offer stable prices against the US dollar.

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The movement of crypto assets is still overshadowed by sentiment of war between Russia and Ukraine.

Since the Russian invasion on 24 February 2022, Ukraine has raised more than 56 million US dollars equivalent to Rp 805.6 billion (an exchange rate of Rp 14,386 per US dollar) in donations spread across various assets such as bitcoinether, polka dots, solana, dogecoin, tether and many more.

Also read: Besides Bitcoin, Ukraine Also Receives NFT Donations to Finance Military Troops, Check Crypto Prices Today

In the days of the war, Ukraine decided to ask for crypto donations

Reporting from Forbes, Sunday (6/3/2022), these funds have been used to help humanitarian agencies distribute aid in the country, obtain necessary supplies for soldiers such as food, uniforms and bulletproof vests.

Ukraine initially planned to leverage digital assets and blockchain technology to help revitalize the Ukrainian economy and bring all government processes online.

Ukraine’s deputy minister for digital transformation Alexander Bornyakov said the mission of the ministry, which was founded two years ago, is to move 100 percent of government services online and build a digital state to make all government services transparent, easy to use and convenient for Ukrainian citizens.

However, all of these plans were shattered after Russia’s invasion of Ukraine in February 2022. The Ukrainian government is looking for ways to use its know-how in crypto and digital assets to support the war effort.

“Within days of war, Ukraine decided to ask for crypto donations. It was the second or third day we decided that we needed money to come in, because there were problems with banking liquidity,” Bornyakov said.

Bornyakov also got a call from the minister of digital transformation Mykhail Fedorov, who mentioned the need to help the army of war and the possibility of donations of crypto assets to Ukraine.

“We decided to create a wallet and build this infrastructure to get money and send cryptocurrency to different suppliers, so that we can buy all the things the army needs,” Bornyakov added.

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