2021 wasn’t just a year for cryptocurrency institutionalization and new highs at all; It also proved to be the most successful year in crypto-breeding.

Cryptocurrency donations rose to $69.6 million in 2021, up from $4.2 million in 2020, according to research from The Giving. The volume of cryptocurrency donations increased by 1558%, or nearly 16 times, in the same period. The average crypto donation also increased by 236%, from an average of $3,109 in 2020 to $10,445 in 2021.

The data also showed that the average cryptocurrency donation was 82 times greater than the average cash donation. The average crypto donation is $10,455 compared to $128 in cash.

The monthly donation data revealed several interesting aspects for crypto subscribers. The report highlights that cryptocurrency donations were the highest in the last four months of 2021. The volume of donations peaked each month with a total of $300,000 in January and a total of over $20,000,000 in December. 42% of all cryptocurrency donations in 2021 came in the past two months.

Percentage of cryptocurrency donations in each month of 2021 Source: The Giving Block
The study attributes this increase to the beef market and the increased penetration of digital assets among the public as well as non-profit organizations. The research report showed that by the end of 2021, more than 1,000 non-profit organizations had accepted cryptocurrency donations.

Related: Progressive Group Accepts Bitcoin Donations to ING and PayPal

The volume of cryptocurrency donations grew every quarter in 2021, with the total in the first quarter reaching $1.69 million, and in the fourth quarter this amount rising to $43.1 million. A total of 70 cryptocurrencies were used for donations, with ether being the top choice for donations, followed by bitcoin (BTC) and US dollar stablecoin. 85% of all cryptocurrencies in 2021 took place in BTC, Ether (ETH), and USDC.

Maximum number of crypto donations Source: The Giving Block
Crypto data is a reflection of the growing popularity of digital currency among activists, politicians, and even shadow governments. In 2021, Bitcoin appeared in a protest in Hong Kong. The shadow government of Myanmar, which is fighting the current military regime, has declared USDT Tether its official local currency. Blockchain makes cryptocurrency unlimited, which in turn has made it the best option for donations.

Source: CoinTelegraph

LEAVE A REPLY