March 31, 2023

Crypto Donations Expected To Surpass $10 Bln in Decade

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The Giving Block, a crypto charity platform, expected that the crypto donations would surpass $10 billion in the next ten years, according to Cointelegraph.

In its 2023 annual report, titled “Crypto Philanthropy Data, Trends & Predictions,” The Giving Block pointed out that, according to data, the crypto donations on the platform exceeded $125 million in 2022. And based on the data, it predicted that the donations in crypto would hit $1 billion by August 2027 and would reach $5 billion in June 2031, and exceed the $10 million mark in November 2032.

As for the most used cryptocurrencies in donations, The Giving Block said that the USD Coin was the most used crypto for donations, accounting for 44% of the total donations, followed by Ethereum (24%) and Bitcoin (17%).

In addition, the crypto platform expected that the bitcoin would reach $100,000 in September 2026 and $250,000 in October 2029 based on its price trajectory.

The report also mentioned the largest crypto donation of the year was made by Ethereum Co-founder Vitalik Buterin, worth $9.4 million through Balvi, his philanthropic fund.

Moreover, it mentioned the beneficiaries of these crypto donations in 2022 as many ask which organizations benefit from these donations. The Giving Block mentioned six charities, including Orangutan Outreach, which aims to preserve orangutans from extinction, CARE, Trees for the Future, which succeeded in planting 2.3 million trees from the crypto donations it received, and Vive Church.

The Giving Block, a Shift4 company, is a platform helping nonprofits fundraise more effectively from modern philanthropists.

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