Polkadot Founder Donates $5.6M As Ukraine Begins Accepting DOT

Key Insights:

• The tweet specified that Polkadot donations are now being accepted.
• Polkadot Founder Gavin Woods mentioned his donation of 298,367 DOT in reply to the same.
• His donation became the highest crypto donation for the country yet.

As the world bears witness to Russia’s invasion of Ukraine, the crypto community has been at the forefront in terms of support.

Cryptocurrencies from all around the globe continue to pour in for Ukraine as it fights back the Russian Federation. The latest to join the list is Polkadot’s founder.

Ukraine Welcomes Polkadot

Since the war began, Ukraine has been very active and vocal on its social communication channels.

They have made the most of this technology, from requesting blocking Russian crypto accounts to accepting crypto donations. And it has paid off as well.

After accepting crypto donations, over $36 million has already been donated to support Ukraine.

Although initially, the crypto donations were only limited to Bitcoin, Ethereum, and Tether (USDT). Today the country announced that it would also begin accepting donations in Polkadot. 

In response to this, Polkadot founder Gavin Woods linked a Polkadot transaction of 298,367 DOT.

This transaction was Woods fulfilling his promise of donating $5 million once Ukraine enabled Polkadot donations. As a result, the total DOT donated came to be valued at around $5.6 million.

In response to the donation, Ukraine tweeted:

The people of Ukraine fighting for our freedom are forever grateful to Gavin Wood @gavofyork for the generous donation of $5M of @Polkadot $DOT as promised publicly. Thank you from all of us here in Ukraine working for a peaceful future 🇺🇦

— Ukraine / Україна (@Ukraine) March 1, 2022

This contribution marked the single largest donation from both an individual and an organization.

Recently, Binance also stated that Binance Charity would donate $10 million for on-ground support and aid using its charity arm.

Payment processor Coingate also enabled direct donation links to Ukraine on the platform. Litecoin endorsed it, stating donations could now be made using LTC.

Enabling Polkadot would further help Ukraine and return to the altcoin itself.

Polkadot Under $20

The altcoin has been keeping its movement surrounded by $20 for a while now. The level has been serving as a critical resistance and essential support simultaneously.

While yesterday’s recovery did push the coin closer, it did not test or breach it yet.

Regardless, crossing it would still only be a tiny step in the altcoin’s recovery. Polkadot fell from its ATH in November and continues to be 64.9% away from returning to it.