According to data gathered by The Giving Block, a crypto charity platform, donations made in cryptocurrency are expected to surpass $10 billion within the next ten years. The platform’s 2023 annual report reveals that cryptocurrency donations exceeded $125 million last year.
The Giving Block Predicts BTC To Reach $100K By 2026
By using the available data, the crypto charity initiative forecasted that crypto donations could surpass $1 billion by August 2027, reaching $5 billion by June 2031 and ultimately exceeding the $10 billion milestone by November 2032.
Besides the information on cryptocurrency donations, The Giving Block’s projections were influenced by their evaluation of Bitcoin’s price trend. The platform anticipated that BTC’s price could hit $100,000 by September 2026 and reach $250,000 by October 2029.
In addition, the platform disclosed the cryptocurrencies most frequently utilized in donations and identified the largest crypto donation of the year. Among the most commonly used cryptocurrencies for donations, USDC comprised 44% of the total volume, followed by Ethereum and Bitcoin at 24% and 17%, respectively.
Meanwhile, Vitalik Buterin, the co-founder of Ethereum, made the largest crypto donation of 2022. He donated $9.4 million through his charitable organization, Balvi.
Also read:As crypto donations and charities continue to expand, some may have concerns about where these contributions end up. To address these concerns, The Giving Block disclosed a list of six charitable organizations that received support from cryptocurrency donations last year.
These organizations comprised Orangutan Outreach, an initiative focused on preserving orangutan populations by providing care for displaced and orphaned orangutans. The second was Trees for the Future, a non-profit organization promoting regenerative agriculture that successfully planted 2.3 million trees with the crypto donations it received.
Crypto Community’s Donation For Ukraine, Turkey, And Syria
Earlier in March, the crypto community also donated funds to the Turkey and Syria earthquake victims in February. Chainalysis, a blockchain analytics company, claims that relief organizations in the region have received roughly $5.9 million in cryptocurrency donations.
The Earthquake Humanitarian Aid campaign by the Turkish Ministry of Interior, Project Hope, Save the Children, and the Turkish Red Crescent, have all received cryptocurrency-based contributions to support the earthquake relief efforts. Furthermore, various cryptocurrency exchanges, such as Binance, KuCoin, OKX, and Bitfinex, donated over $9 million to aid victims in the affected area.
In addition, a February 24th report from Chainalysis revealed that since the onset of the Russian-Ukraine conflict, Ukraine had received over $70 million in cryptocurrency donations, primarily in BTC and ETH, which helped fund the country’s military equipment and humanitarian assistance. Among the donors, ETH contributors led the way with $28.9 million, followed by BTC, which contributed $22.8 million, and USDT, which chipped in $11.6 million.
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