Ethereum ETH/USD donations to war-torn Ukraine have surged after its government confirmed on Tuesday that it would conduct a cryptocurrency airdrop, data from Dune Analytics showed.
What Happened: Ukraine's government on Wednesday tweeted it would airdrop crypto tokens it had received in the form of donations over the past week, as the country fends off invading Russian forces.
Cumulative ETH donations to the Ukrainian government exceeded $20 million at press time, according to data from Dune Analytics, a tool for blockchain research.
See Also: How To Buy Ethereum (ETH)
Why It Matters: Although it was not immediately clear who the beneficiaries of the Ukrainian airdrop were, the country’s official Twitter account said it would reveal a snapshot at 6 p.m. local time on Thursday.
The Ukrainian government has collected more than $37 million in cryptocurrency donations from across the world since it made an appeal on Saturday.
The top recipient of such donations — the Reserve fund of Ukraine — raised nearly $13 million in Bitcoin BTC/USD, Ethereum, and Tether (USDT).
Ukraine has also started accepting donations in Polkadot (DOT), with the cryptocurrency’s founder Gavin Wood recently donating $5.6 million worth of DOT to the country.
Price Action: At press time, ETH traded largely flat at $2,931.77 over 24 hours.
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