The crypto community has donated over $2.2 million to support India fight a resurgence in COVID-19 cases that has grasped the South Asian country over the past month. Sandeep Nailwal, the co-founder of Polygon, founded the COVID-19 relief fund to generate more food, vaccines and medicine for those in shortage. On April 24, Nailwal urged his Twitter followers to help by donating tokens to a multi-sig ERC-20 address. Ethereum creator Vitalik Buterin has donated tokens worth approximately $650,000, as per Markets Insider. Balaji Srinivasan, the former Coinbase, also donated $50,000. Brett Lee, a famous Australian cricketer, has also vowed 1 Bitcoin (BTC) to the fund.
Sandeep Nailwal tweeted that he had to do something to support the COVID-19 circumstance in India, where cases and deaths have been growing consistently. Many patients are not receiving the treatment they require owing to a lack of resources. Nailwal opined that he could arrange oxygen, food and vaccines to those in need and urged people to donate tokens on the Ethereum network. His first tweet regarding the relief fund has been shared over 3,200 times at the time of this publication. It has attracted the attention of crypto industry leaders.
Covid-19 Cases Surging in India
On Tuesday, the relief fund’s website illustrated that it had raised crypto assets worth $2,201,618.70. The majority of the donation has been in Ether and ERC-20, another token that functions on the Ethereum network. However, supporters can donate in most cryptocurrencies. Moreover, as per the website, the funds get converted into U.S. dollars. Notwithstanding the country considering a ban on holding, trading or otherwise employing digital assets, the crypto sector has hugely expanded globally. Moreover, the trading volume and owned assets are stimulating.
Incidences of COVID-19 are raging over India, with the daily infection rate exceeding 350,000 for five straight days. On Monday, official data displayed 352,991 new reported cases across the previous 24-hour period. It witnessed at least 2,812 deaths. As per the information from Johns Hopkins University, over 17.6 million cumulative COVID cases have been listed in India so far. COVID-19 has had a disastrous influence on public health and the global economy. It has compelled nations to reevaluate their pandemic response plans, supply chains and health systems. Globally, above 148 million people have been affected by the novel disease. Johns Hopkins credits more than 3.1 million deaths to COVID.
Follow BitcoinWorld for the latest updates.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.