The practice of donating cryptocurrency to charities and non-profit organizations is steadily gaining momentum.
According to report of the Giving block platform, $69,644,535 worth of cryptocurrencies were donated to various organizations in 2021, which is 1557% higher than in 2020. At the same time, the average crypto payment increased by 236% and amounted to $10,455.
At the same time, the volume of donations in crypto grew steadily in each subsequent quarter of 2021.
In parallel The number of non-profit organizations accepting crypto-assets has also increased. By the end of last year, there were more than 1,000 such organizations.
Last year, Ethereum became the most popular cryptocurrency for donations for the first time. The total volume of charitable contributions to ETH amounted to $30.79 million. Previously, Bitcoin was the cryptocurrency with the highest annual volume of charitable contributions.
Unlike previous years, stablecoins such as USD Coin (USDC) and Dai (DAI) have also been popular among philanthropists. A total of 70 cryptocurrencies were used in transactions.
Subscribe to ForkNews on Telegram to stay up to date with news from the world of cryptocurrencies
You May Also Like
Low-wage workers in the US are quitting and investing in Bitcoin
A Civic Science survey found that about 4% of US adults quit their jobs after making profits from crypto investments.
US Republicans will begin accepting donations in cryptocurrency
The Republican Congressional Committee (NRCC) will become the first party organization in the United States to accept cryptocurrency contributions to support candidates in elections.
