Ukraine-Russia’s impact on cryptocurrency!
Russia’s invasion on Ukraine shocked the world! While the experts around the world were predicting some kind of conflict between Russia and Ukraine, the extent to which Russia went in destroying Ukraine was shocking. The invasion influenced a lot changes around the world. Various industries were shattered, hit rock bottom. Cryptocurrencies market was one among those industries which got swept away due to the war. The consequences of the war resulted in the historic market crash which saw billions of dollars get wiped away in the market. While the war had a major and a negative affect on the crypto market, the cryptocurrencies are being used by Ukrainian to donate funds to Ukraine’s army to fight the battle with Russia.
Eurovision Trophy bought for $90,000 in crypto!
Kalush Orchestra, one of the most popular bands in Ukraine, won the historic Eurovision top award for writing the song “Stefaina.” After winning the award, the band did something remarkable and something which every Ukrainian would be proud off. They went on to auction the prize in facebook, and sold the trophy for $90,000 or 500 Ethereum coins and donated the amount to the Ukrainian Army.
The Glass Microphone contribution for Ukraine!
The Glass Microphone which was the prize from the Eurovision, was auctioned and won by the Tallin, Estonia-based company who won the bid for 500 Ethereum coins. The band’s front man, who was sporting a pink bucket hat was also auctioned and was sold for another $370,000 and the same was donated to the army. The band’s facebook was filled with comments and the band obliged the comments and the participants in the auction thanking them. They put out a post saying “You guys are amazing!”
How does the donation positively impact the Ukraine’s chances?
Kalush went on to reveal that, the donation will used to buy three drones and the remaining funds will be allocated to set up a control center for the needs of Ukrainian forces through Prytula’s charity the Serhiy Pyrtula Charity Foundation.
The details of the drones were also revealed. The drones were military grade drones which would be active for at least 7 hours and carry over 400 pounds on their own.
The news comes as a trend because, never in the history, the winners of Glass Microphone sold the award in an auction or otherwise. The award is considered as an epitome of success, professionalism, connection and what not. But, the band truly felt that Ukrainian army needed all the support and took the bold step of auctioning the prize and donating the funds received from the auction.