• The Bored Ape Yacht Club donates $1 million in Ethereum to Ukraine

  • While BAYC is the most recent crypto firm to donate to Ukraine, the European country has garnered considerable support from the wider crypto community, with significant donations made in its national interest.

    a well-known NFT collection The Bored Ape Yacht Club (BAYC) has donated $1 million to Ukraine, which was transferred directly to the country’s ETH wallet address. The donation was motivated by the contributions of BAYC community members, according to BAYC’s official Twitter account.

    Crypto donations continue to support relief efforts to assist those affected by Ukraine’s war catastrophe. According to experts, the deepening of the crisis can only result in the globe witnessing the most massive input of alternative financial help for an emergency scenario in history.

    With this donation, the Bored Ape Yacht Club NFT collection joins other communities in expressing solidarity and support for Ukrainian citizens. According to Merkle Science, this takes Ukraine’s total crypto donation to more than $80 million.

    NFTs are a one-of-a-kind token that exists on the blockchain and serves as proof of asset ownership. Bored Ape Yacht Club is one of the rare NFT projects with a floor price of more than 50 ETH.

    The initiative has established itself as a cultural representation in the NFT ecosystem, attracting the attention of celebrities such as Eminem, Steph Curry, and Jimmy Fallon, among others, who have opted to contribute into the collection.

    Donations of cryptocurrency to Ukraine

    While BAYC is the most recent crypto firm to donate to Ukraine, the European country has garnered considerable support from the wider crypto community, with significant donations made in its national interest. Binance, FTX, and other cryptocurrency exchanges have made significant donations to Ukraine.

    According to publicly available statistics on the country’s official Ethereum address, it has a balance of approximately 2500 ETH, which is worth over $7 million in total.

    Elliptic data, on the other hand, suggests that the entire sum donated to the country is roughly $60 million, which is $20 million less than that of Merkel Science.

    Unsurprisingly, Bitcoin and Ethereum donations are the most popular among donors. According to Elliptic, Ethereum donations account for approximately 34% of all donations sent to Ukraine, while Bitcoin donations account for approximately 31%. Stablecoins such as Tether and USDC account for 17% of donations, with Polkadot accounting for 15%.

    Ukraine may be considering issuing war bonds to help fund its military. The government was able to raise $277 million with an 11 percent interest and a one-year maturity, according to the report.

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