Ukraine Asks for Crypto Donations, Price Stabalize

TIM THOMAS TIM THOMAS Learn more

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At first, you might think the state of the world right now has little to do with the world of cryptocurrencies, but they’ve actually featured in many major stories. Russian-born Ethereum founder Vitalik Buterin has made headlines for his comments against the Russian regime

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Plus, the Ukrainian government has asked for donations in the form of bitcoin and ethereum — millions of dollars worth of cryptocurrencies has been raised already.

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As the world discusses sanctions against Russia in the form of blocking SWIFT transfers, it also shines a light on the role of centralized financial institutions in our lives.

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BTC’s price dropped at first amid the madness — proving that it’s far from being a safe haven asset like gold, which reached high points when the news of war loomed. However, BTC’s price recovered after the first few days, as reflected by its net increase over the last week.

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Interestingly, the cryptocurrency tether (USDT) fared a little better, with its value surpassing $1 on a major Ukrainian exchange. This shows that stablecoins may indeed have a solid use case as an alternative to the dollar.

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