Ethereum has been Among the Preferred Methods in Aiding the Ukraine Military

Since the Ukraine-Russia war, there have been calls to donate and aid the military defense in Ukraine. According to the donation website, more than $70 million in cryptocurrencies has been received. Many of these donations came from Ethereum, the second cryptocurrency by market capitalization. Notably, the donations featured DAOs and NFTs, showing how much they have grown in adoption. DAOs, in particular, could use the reputation boost to grow as more DAOs are coming up, bearing new use cases such as the Crayon DAO. Roughly 95% of all the NFT ecosystem uses Ethereum. In terms of trading volume, Ethereum leads the pack with a much larger market of buyers and sellers. According to a report, the NFT market is experiencing hypergrowth right now. There is an increase of 250 times over the total volume of just $95 million in 2020. Last year, it generated a transaction volume of around $25 billion. To help fund its military, Ukraine has also launched an NFT collection. Currently, 54 NFTs are available to document the first three days of the war. Each illustration references a tweet detailing some aspect of the invasion and the response. Ukrainian and international artists did them.