Ukraine gained $70M in crypto donations
Since the Russian invasion a year ago, $28.8M in Ether, $22.9M in Bitcoin, and $11.7M in Tether have been transferred to Ukraine.
Since the start of the Russia-Ukraine conflict, Ukraine has received more than $70M in crypto, providing the country with humanitarian aid and military equipment.
The figures come from a report by blockchain data which found that most of the funds came from Ether and Bitcoin BTC $23,409 ETH donors lead with $28.92M, while BTC and Tether donors lead the way. USDT $1.01 in chips to $22.9M and $11.6M, respectively.
The help of the crypto fund in Ukraine was a great success. It was surprising not only by the number of donations, but also by the fact that the digital ministry could access these funds for the defense of Ukraine.
The 100 groups received $5.4M during the campaign, though donations have dropped significantly since July.
It is unclear if the sanctions have made things worse. However, the newest package of sanctions against Russia was introduced in February.
A Chainalysis crime report found that in 2022, $456.8M was paid in ransom. Most of that money came from Russia.
Chainalysis explained that bad actors often use such attacks to further a political agenda, such as Russia-based pro-conflict ransomware group Conti, which made $67M from victims 2022 and has previously announced full Russian support.
Potential bullish breakout for Bitcoin price action
The largest cryptocurrency, Bitcoin, will maintain its gains in the second month of 2023 – and keep bullish hopes alive.
Next week could be a decision time for a specific area of BTC price action around $25,000.
Analysts are eyeing $30,000 if support becomes more permanent, though concerns remain that a trip to resistance recovered in January is still open.
Amid a quiet week for macroeconomic data, any catalyst for BTC/USD moving up or down could come from Bitcoin itself.
Bitcoin was about to go back down, but it managed not to. It went up again this week. The weekly close, $23,500, was good news for people who wanted to see prices rise.
