The Giving Block, an American platform for donations to charity in cryptocurrency, reported a 16-fold increase in donations in 2021, to $69.6 million.
According to the company’s annual report, in 2020 the volume of donations was $4.2 million. The amount of the average donation increased by 236%, from $3,109 to $10,445. The average donation in digital currencies was 82 times more than in fiat.
The report highlights that the largest crypto contributions came in the last four months of 2021. Total receipts in December amounted to a record $20 million. In November and December, 42% of the total annual donations in digital currencies passed through The Giving Block.
Donors used 70 different cryptocurrencies. Ethereum was the most popular with $30.7 million, followed by Bitcoin and USDC stablecoin. Donations in these three digital currencies accounted for 85% of the total.
The authors of the report attribute such growth to the “bullish trend” in the market, an increase in the number of non-profit organizations that are ready to accept cryptocurrency transfers, as well as the growing popularity of crypto assets among investors.
Last August, New York-based non-profit organization Hearts & Homes for Refugees announced a fundraiser in cryptocurrencies to help refugees from Afghanistan.
Source: Bits
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