June 24, 2024
Ether Leading the Charge: Save the Children's Crypto Drive Surpasses $7.6M
Altcoins News

Ether Leading the Charge: Save the Children’s Crypto Drive Surpasses $7.6M

In a remarkable display of generosity, the ongoing crypto donation campaign by the philanthropic foundation Save the Children, titled HODL Hope, has garnered over $7.6 million to date. Ether (ETH) takes the lead, representing 50% of the total, with Bitcoin (BTC) and USD Coin (USDC) following suit in the crypto community’s bid to improve the lives of children worldwide.

Save the Children’s HODL Hope campaign, aimed at collecting $10 million by the end of 2023, is currently $2.4 million short of its target. The cryptocurrency contributions, a testament to the growing role of digital assets in philanthropy, demonstrate the crypto community’s commitment to making a positive impact on global causes.

As of now, ETH accounts for $3.83 million of the $7.6 million raised, with Bitcoin donations constituting 34%, valued at just over $2.6 million. USD Coin, a stablecoin backed by the U.S. dollar, emerges as the third most preferred crypto for contributing to the cause, representing 7% or nearly $520,000 of the collection.

Beyond the major cryptocurrencies, traditional U.S. dollars filled 2% of the donation pool. Notable altcoins such as Bitcoin Cash, Tezos, ThunderCore, Tether, Litecoin, and Solana collectively play a role in diversifying the donation landscape.

Leading the charge on the donor leaderboard are the Own The Doge (DOG) and PleasrDAO communities, contributing a substantial 291.16 ETH, equivalent to over $1 million. It’s noteworthy that donors have the option to remain anonymous, not being featured on the public leaderboard.

The campaign received its most significant contribution from an anonymous donor, who generously gave away $3.9 million, underscoring the potential impact of crypto philanthropy.

The ease of cross-border fund movement has facilitated widespread participation in donation events for global causes. Another recent example is the Singapore Red Cross, which, in collaboration with Triple-A, embraced digital currencies by accepting BTC, ETH, USDT, and USDC. Benjamin William, the Secretary-General, and CEO of the Singapore Red Cross, highlighted the importance of opening doors to tech-savvy donors wishing to make a difference through their digital assets.

The success of Save the Children’s HODL Hope campaign reflects the crypto community’s commitment to leveraging blockchain technology for positive social impact and supporting initiatives that strive to make the world a better place for vulnerable populations.

Image: Wallpapers.com

Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.

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