Amidst the volatility in the global markets Russia-Ukraine According to CoinGecko, during the crisis, bitcoin held close to $40,000 on Sunday, gaining 1.4% over the past 24 hours and trading at $39,513.14. CoinGecko reported that the global cryptocurrency market cap today stands at $1.85 trillion, which is a 1.5% change over the past 24 hours.
While Ethereum rose 1.2% to $2,658.07, one of the highly donated cryptocurrencies received by the war-torn country Ukraine. Dogecoin is up 1.8% to $0.125064, while Shiba Inu is up 0.6% to $0.00002426. Polygon is up 0.7% to $1.49 in the past 24 hours.
Meanwhile, Ukraine’s Deputy Minister of Digital Transformation Alex Bornyakov said the country has already spent $15 million of donations received in cryptocurrencies on military supplies, including bulletproof vests that were distributed on Friday. The Ukrainian government anticipates doubling the $50 million of crypto donated so far in the next two or three days, Bornyakov said Friday in a Zoom interview from an undisclosed location inside Ukraine. Most donations have been made in bitcoin and ether.
Bornyakov said the 250-man ministry had managed to find suppliers for everything from food packages to bandages and night-vision equipment for the military in Europe and the US within two days after Russia’s invasion of Ukraine on February 24. Has attained. About 40% of suppliers are willing to take crypto. The rest is usually paid for with crypto converted to euros and dollars, he said.
While many companies and crypto startup founders have donated money, “most donations come from people,” Bornyakov said, noting that air-raid sirens are sometimes needed to drive them to a bomb shelter. The ministry has also received donations in Tether, Polkadot and Solana, he said. It also received hundreds of NFTs, including a valuable cryptopunk.
The ministry was formed two years ago, and was working to develop Ukraine’s information-technology services industry, provide high-speed Internet access throughout the country, and move all government services online. Bornyakov said most of the ministry’s team is under 35, and most are working remotely, inside or outside the country. Before joining the ministry, Bornyakov studied public administration at Columbia University in New York and founded several startups, including an ad-technology provider and a startup investment fund.
(with inputs from agencies)
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