An ongoing crypto donation campaign dedicated to improving the lives of children worldwide has received over $7.6 million to date, half of which was donated in Ether (ETH).
Philanthropic foundation Save the Children’s HODL Hope Campaign remains nearly $2.4 million short of the $10 million it intends to collect by the end of 2023. ETH represented 50%, or $3.83 million, of the $7.6 million raised in crypto donations at the time of writing.
Bitcoin (BTC) donations constituted 34% of the total cryptocurrencies, valued at a little over $2.6 million. USD Coin (USDC), a U.S. dollar-backed stablecoin issued by Circle, was the third most preferred way for the crypto community to help out children in need. USDC represented 7%, or nearly $520,000, of donations.
The U.S. dollar was used in 2% of donations, which was followed by major altcoins, including Bitcoin Cash (BCH), Tezos (XTZ), ThunderCore, Tether (USDT), Litecoin (LTC) and Solana (SOL).
The Own The Doge (DOG) and PleasrDAO communities currently dominate the donor leaderboard after contributing 291.16 ETH, or over $1 million, to the cause. However, donors can stay anonymous and not be featured on the leaderboard.
As shown above, anonymous donors accounted for $3.9 million of the total campaign donations.
Related: Crypto charities can exploit ‘gambler’s fallacy’ to reap larger donations — Study
The ease of cross-border movement of funds allows greater participation in donation events for global causes. Recently, humanitarian aid and community services charity, the Singapore Red Cross, started accepting crypto donations.
In partnership with Triple-A, the Singapore Red Cross started accepting BTC, ETH, USDT and USDC. “By accepting digital currencies, we open our doors to a new segment of donors who are tech-savvy and wish to make a difference through their digital assets,” said Benjamin William, secretary general and CEO of the Singapore Red Cross.
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