Cryptocurrency is showing the support of the public in philanthropy at an increasing rate. According to the Giving Block, a cryptocurrency charity platform leading the trend, it is expected that crypto donations will exceed $10 billion in the decade to come. An annual report titled "Crypto Philanthropy Data, Trends, & Predictions" posted a record-breaking high of over $125 million in 2022. The report further states that USDC, Ether, and Bitcoin are the most popular crypto choices being used for donations; each accounting for 44% of the volume. Co-founder of Ethereum, Vitalik Buterin, happens to be the biggest giver as he has donated around $9.4 million to his philanthropic fund.

In a bullish market, cryptocurrency giving can bring in all the right incentives, like tax benefits, to the donor and to the organization which helps in a more effective use of the funds. The key to making sure the money is used in the right direction is in creating transparency and accountability between the firms and the organizations.

The Giving Block believes that the trend of cryptocurrency philanthropy will skyrocket to new heights, opening the doors of social change and tax savings. This would mean greater adoption of this asset class in mainstream markets, as more people turn to cryptocurrency as a vehicle for charity and for social initiatives.



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