Ukraine’s request for crypto donations to help it resist the Russian invasion sparked a wave of interest among cryptocurrency projects and innovators alike. More than $24 million worth of cryptocurrencies has landed in the country. With this newfound push, many people are stepping up their involvement in Cardano. The coin’s founder, Charles Hoskinson, created a video to explain his stance.
The People Should Take Note Of This Warning
Even though Polkadot’s inventor, Gavin Wood, has donated to Ukraine, Hoskinson said that Wood has no plans to do the same for the ADA soon, either.
“I’m not sure,” Hoskinson said, “if the payments would be used solely for the benefit of the public or whether they will be subjected to future control by a “puppet government.” A man may be taught how to fish rather than being handed fish. Hoskinson issued a warning, saying,
“Since cryptocurrency is decentralized, it is possible that, if the Ukrainian government invades, the wallets in Kyiv containing the assets may simply disappear, with individuals claiming that the keys had been lost or that the people who knew them had died, while the assets have been confiscated.”
💪Until Mar 2, 2022 18:00 GMT+8, the official #TRON address of the Ukrainian government to accept donations has received total $1,334,820 #USDT on #TRON for 3286 transactions with average $406 each donation.
— TRON DAO (@trondao) March 2, 2022
Hoskinson suggested that the Cardano community help out the Ukrainian refugees in other countries as an alternative.
Afterward, There Were Nine
Hoskinson’s statements have raised a potential ADA donation to Ukraine. In terms of market capitalization at this writing, Cardano’s ADA was the ninth-largest cryptocurrency. Coin value has risen 5.06 % in the last week, however.
ADA’s price and the number of active addresses have been declining for some time, according to Santiment statistics. In contrast to December’s lows, the number of active addresses increased slightly.
Whale transactions are very unusual, as can be seen by the total number of transactions. There was an uptick in whale activity, even though ADA’s price rebounded briefly at the end of February. However, it didn’t matter since the coin dropped once again soon afterward. After the 22nd of September in 2021, the number of transactions involving whales hardly increased.
Trouble In The Form Of A Tron
There is a lot of pressure on cryptocurrency pioneers and influencers to donate to Ukraine’s official crypto addresses. Among the company’s early supporters are Justin Sun, the brains of TRON, and Gavin Wood, the brains behind Polkadot.
Sun voiced his dissatisfaction due to the cancellation of the airdrop, stating that the Ukrainian government should have conveyed its gratitude to Tron contributors during the airdrop.
“Even though Ukraine was left out of the airdrop, the TRON community still stands for the nation! The great amount currently exceeds $1.3 million. However, it is wrong to exclude them! Regardless of the amount contributed, donations should be treated equally!”