A crypto donation campaign with a noble mission to enhance the lives of children across the globe has garnered an impressive total of over $7.6 million in contributions to date.
Notably, half of this substantial sum, amounting to $3.83 million, has been generously donated in the form of Ether (ETH), a prominent cryptocurrency in today’s digital landscape.
At the time of this report, the price of ETH was hovering at $2,026.
Despite this remarkable achievement, the philanthropic foundation spearheading the initiative, known as Save the Children’s HODL Hope Campaign, finds itself approximately $2.4 million short of its ambitious goal. Their aim is to amass a total of $10 million by the culmination of the year 2023.
Breaking down the donations, Bitcoin (BTC) commands a significant share, constituting 34% of the overall crypto contributions. This translates to slightly over $2.6 million in BTC donations.
USD Coin (USDC), a stablecoin pegged to the U.S. dollar and issued by Circle, emerges as the third most favored medium for contributing to this noble cause, accounting for approximately 7% of the total donations, which equates to nearly $520,000.
Conventional U.S. dollars made up a modest 2% of the donations, followed by major altcoins such as Bitcoin Cash, Tezos, ThunderCore, Tether, Litecoin, and Solana.
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Topping the charts on the donor leaderboard are the communities “Own The Doge (DOG)” and “PleasrDAO,” whose collective contribution of 291.16 ETH, exceeding $1 million, deserves special recognition.
However, it is important to note that many donors prefer to remain anonymous and thus do not feature on the leaderboard.
A substantial portion of the campaign’s funding, to the tune of approximately $3.9 million, originates from these anonymous donors, underscoring the privacy and security attributes inherent in cryptocurrency donations.
The seamless facilitation of cross-border fund transfers via cryptocurrencies has democratized participation in charitable endeavors aimed at addressing global challenges. This trend extends beyond the purview of Save the Children’s campaign.
Notably, the Singapore Red Cross has joined the digital revolution, forging a partnership with Triple-A to accept cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC) for their humanitarian and community service initiatives.
Benjamin William, the Secretary-General and CEO of the Singapore Red Cross, lauds this move, stating that it welcomes a new segment of tech-savvy donors eager to leverage their digital assets for making a positive difference in the world.
In summary, the Save the Children’s HODL Hope Campaign exemplifies the growing influence and acceptance of cryptocurrency donations within the philanthropic sector, marking a significant stride toward harnessing digital assets for the betterment of global humanitarian causes.
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