A donation campaign centered on utilizing cryptocurrency to support the welfare of children worldwide has achieved an impressive milestone, accumulating over $7.6 million in donations thus far, with nearly half of the contributions made in ether.
The ongoing initiative, known as Save the Children's HODL Hope Campaign, aims to reach a fundraising target of $10 million by the close of 2023. As of the current tally, Ethereum (ETH) makes up 50% of the total raised, amounting to $3.83 million in cryptocurrency donations.
Bitcoin contributions constitute around 34% of the overall cryptocurrency sum, totaling slightly above $2.6 million, while USDC, a USD-backed stablecoin by Circle, claims 7% of the donations, equating to nearly $520,000.
Other cryptocurrencies account for smaller portions of the donations, with the U.S. dollar comprising 2% and major altcoins like Bitcoin Cash, Tezos, Thunder Core, Tether, Litecoin, and Solana collectively making up the remainder.
Leading the donor rankings are Own The Doge (DOG) and the PleasrDAO community, with a combined contribution of 291.16 ETH, valued at over $1 million. However, many donors choose to remain anonymous and opt out of appearing on the public leaderboard.
The ease and accessibility of cross-border transactions in cryptocurrency have facilitated greater participation in global charitable causes. Recently, the Singapore Red Cross, a humanitarian organization offering aid and community services, has started embracing cryptocurrency donations in collaboration with Triple-A.
Benjamin William, the secretary-general and chief executive of the Singapore Red Cross, expressed the significance of this move, stating that by embracing digital currencies, they are opening doors for a new cohort of donors who are tech-oriented and wish to contribute through digital assets.
