In less than 24 hours after opening a DOGE address, the Ukrainian government has received $67,000 in Dogecoin donations as the meme cryptocurrency has overtaken the Russian ruble in value.
The Russian ruble experienced one of its most disastrous falls following the financial sanctions imposed by the West following last week’s Russian invasion of Ukraine. The ruble is down 40% against the US dollar so far. Interestingly, popular meme coin DOGE outperformed the Russian ruble after the country attacked Ukraine.
DOGE donations for Ukraine
Following this, Deputy Prime Minister of Ukraine Mykhailo Fedorov asked for Dogecoin (DOGE) donations. This is part of the country’s crypto fundraising efforts to counter the Russian invasion.
“Dogecoin has surpassed the value of the Russian ruble. We’re starting to accept donations in meme coins. Now even memes can support our army and save lives from Russian invaders. $DOGE Owners of the world,” the Ukrainian Deputy Prime Minister tweeted.
In his tweet, the Ukrainian Deputy Prime Minister also tagged Dogecoin creator Billy Markus and billionaire Elon Musk. He also shared the address for receiving DOGE donations.
According to the blockchain records, the address provided by the Vice Prime Minister of Ukraine has received more than so far 509.192.76162288 DOGE worth $66,600. In response to the request from the Vice PM, Billy Markus called:
“Dogecoin people aren’t typically rich and Dogecoin itself is generally used for small transactions, but we’re a caring and passionate bunch. Those who want to help will offer what they can – I hope after all this the country can heal and rebuild stronger”.
Ukraine extends goodwill to crypto community
On Wednesday, Ukraine’s official Twitter name said they will be doing an airdrop as a reward for donors. While not many details of the airdrop are available, the tweet reads:
“Airdrop confirmed. The snapshot will be taken tomorrow, March 3, at 18:00 Kiev time (UTC/GMT +2 hours). reward follows! Follow the news below on Ukraine’s crypto fundraising campaign at @FedorovMykhailo.”
Many popular crypto personalities have also come forward to offer assistance to Ukraine. Polkadot founder Gavin Wood announced a $5 million donation to Ukraine in the form of DOT tokens. “The people of Ukraine fighting for our freedom are forever grateful to Gavin Wood @gavofyork for the generous donation of 5 million @Speckle $POINT as publicly promised. Thank you from all of us here in Ukraine working for a peaceful future,” the Ukrainian tweet read.
1/ To ensure that anyone who wants to donate ERC-20 tokens to the Ukrainian government 🇺🇦 can do so, we have developed an interface that exchanges any token for ETH and then directly donates it to the Ukrainian one in a single transaction government sends. https://t.co/Fg3HSdbNSF
— Uniswap Labs 🦄 (@Uniswap) March 1, 2022
On the other hand, decentralized crypto exchange Uniswap has developed a feature that allows people to convert any Ethereum-based ERC 20 token into ETH and send it to the Ukrainian government.
Bhushan is a FinTech enthusiast and has a keen sense of understanding the financial markets. His interest in economics and finance draws his attention to the emerging blockchain technology and cryptocurrency markets. He is continuously in a learning process and motivates himself by passing on the knowledge he has acquired. In his free time, he reads thriller fiction novels and sometimes explores his cooking skills.
https://www.coinspeaker.com/dogecoin-russian-ruble-ukraine-doge/ Dogecoin exceeds Russian ruble in value, Ukraine receives donations in DOGE