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For the first time in 2021, Ether surpassed Bitcoin as the most donated cryptocurrency
According to data from The Giving Platform, a crypto philanthropy platform for organisations and individuals, Ether will be the most-donated cryptocurrency in 2021, with a donation volume of $30.79 million.
Bitcoin, which has traditionally had the highest annual donation volume, came in second with $25.88 million last year.
According to The Giving Platform's year-end report, which was released on Wednesday, stablecoins were also gifted in large quantities. Overall, bitcoin, ether, and USD coin accounted for 85 percent of total donation volume.
As more options were added to the platform throughout the year, people donated more than 70 cryptos. For example, the meme token shiba inu debuted in November and was already the fourth-most donated cryptocurrency a month later.
In comparison to the previous year, total donations increased by 1,558 percent to $69.6 million for the year. The average size of a cryptocurrency donation was $10,455, a 236 percent increase from 2020.
The platform attributed the increased giving to three factors: the crypto market's bull run performance, which resulted in the appreciation of many crypto assets; the diversity of assets donated, which reflected the evolution of the digital asset ecosystem; and the deadline to qualify for the tax benefits of donating crypto.
Nonprofits became more accepting of digital assets as well. According to the Giving Platform, by the end of 2021, over 1,000 organisations will accept cryptocurrency.
The report stated that "many nonprofits have looked to cryptocurrency as the next logical step in fundraising innovation." "Crypto philanthropy addresses the more specific challenge of creating sustained, meaningful engagement with younger donors for several organisations, while also taking advantage of a powerful tax incentive to donate."
Non-fungible token projects donated an additional $12.3 million in 2021, establishing themselves as a major force in charitable crypto giving. According to the report, one gift was worth $3.5 million at the time of its donation.
The Giving Block is a non-profit organisation that promotes crypto philanthropy. It was founded in 2018. More than 1,000 organisations, charities, universities, and faith-based organisations of all sizes are now able to accept cryptocurrency donations through the platform.
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By Crypto PiratesAccording to data from The Giving Platform, a crypto philanthropy platform for organisations and individuals, Ether will be the most-donated cryptocurrency in 2021, with a donation volume of $30.79 million.
Bitcoin, which has traditionally had the highest annual donation volume, came in second with $25.88 million last year.
According to The Giving Platform's year-end report, which was released on Wednesday, stablecoins were also gifted in large quantities. Overall, bitcoin, ether, and USD coin accounted for 85 percent of total donation volume.
As more options were added to the platform throughout the year, people donated more than 70 cryptos. For example, the meme token shiba inu debuted in November and was already the fourth-most donated cryptocurrency a month later.
In comparison to the previous year, total donations increased by 1,558 percent to $69.6 million for the year. The average size of a cryptocurrency donation was $10,455, a 236 percent increase from 2020.
The platform attributed the increased giving to three factors: the crypto market's bull run performance, which resulted in the appreciation of many crypto assets; the diversity of assets donated, which reflected the evolution of the digital asset ecosystem; and the deadline to qualify for the tax benefits of donating crypto.
Nonprofits became more accepting of digital assets as well. According to the Giving Platform, by the end of 2021, over 1,000 organisations will accept cryptocurrency.
The report stated that "many nonprofits have looked to cryptocurrency as the next logical step in fundraising innovation." "Crypto philanthropy addresses the more specific challenge of creating sustained, meaningful engagement with younger donors for several organisations, while also taking advantage of a powerful tax incentive to donate."
Non-fungible token projects donated an additional $12.3 million in 2021, establishing themselves as a major force in charitable crypto giving. According to the report, one gift was worth $3.5 million at the time of its donation.
The Giving Block is a non-profit organisation that promotes crypto philanthropy. It was founded in 2018. More than 1,000 organisations, charities, universities, and faith-based organisations of all sizes are now able to accept cryptocurrency donations through the platform.
Support us!