According to The Giving Block’s 2023 annual report, “Crypto Philanthropy Data, Trends and Predictions,” all crypto donations on the platform across $125 million by 2022. Based on available data, the crypto-charity project predicted that it could cross $1 billion by August 2027, reach $5 billion by June 2031, and cross the $10 billion mark by November 2032.
Data collected by crypto charity platform The Giving Block shows that donations in the form of cryptocurrencies will exceed $10 billion within the next decade.
In addition to the platform’s data on crypto donations, The Giving Block also based its predictions on its analysis of the potential price trajectory of bitcoin (BTC). The platform predicted that BTC could reach $100,000 in September 2026 and $250,000 in October 2029.
In its annual report, the charitable project also highlighted the most used cryptocurrencies in charity and the largest crypto donations of the year. In terms of the top cryptocurrency used for donations, USD Coin (USDC) accounted for 44% of the volume, while Ether (ETH) contributed 24% and BTC donated 17%.
Meanwhile, Ethereum co-founder Vitalik Buterin set a record for the largest crypto donation of the year, donating $9.4 million through his philanthropic fund Balvi.
Connected: Crypto donations increase momentum and global reach during crisis
As crypto donations and donations increase in number, some may wonder where the donations are actually going. In 2022, The Giving Block also shared six charities that stand to benefit from crypto donations. This includes the orangutan conservation project Orangutan Outreach, which cares for orphaned and displaced orangutans, and the non-profit regenerative agriculture organization Trees for the Future, which managed to plant 2.3 million trees thanks to crypto donations it received.
magazine: Best and Worst Countries for Crypto Taxes – Plus Crypto Tax Tips
Stay connected with us on social media platforms for instant updates, Click here to join us Facebook
Denial of responsibility! Technicripon.com is an automated aggregator of around the world media. All material is available for free on the Internet. We have organized this on a platform only for educational purpose. A hyperlink to the primary source is specified in each material. All trademarks belong to their rightful owners, all content belongs to their authors. If you are the content owner and do not want us to publish your content on our website, please contact us at email – email@example.com. The content will be removed within 24 hours.