What is Ethereum, exactly? It’s one of the oldest and most popular blockchains in the crypto sector. Ethereum is also the name of its native token, which is abbreviated as “ETH.”
A growing number of nonprofits know that donating ETH is a popular way to give back—making ETH donors a major force for good in the Crypto Philanthropy movement.
As the crypto bull market picks up momentum, there’s never been a better time to ask for ETH donations. Since “crypto” can feel overwhelming at first, we’ve gathered up some essential facts and stats about Ethereum for fundraisers and nonprofit professionals.
Key Insights
- Ethereum is one of the most popular blockchains. The cryptocurrency ETH is its native token.
- Over the years, crypto donors have made tax-efficient donations of ETH worth tens of millions of dollars.
- Vitalik Buterin, Ethereum’s co-founder, is one of the world’s foremost crypto philanthropists.
- Many NFT projects prefer to give back using ETH to support their favorite causes.
1. At over $420 Billion to date, Ethereum has the second highest market capitalization of any asset in the crypto sector.
The only cryptocurrency with a higher market cap is Bitcoin.
2. In 2023, Ethereum was the third-most donated asset to charities using our crypto fundraising solution.
In our recently-published 2024 Annual Report on Crypto Philanthropy, we break down the top assets including Bitcoin and USDC, a popular and widely-donated stablecoin.
3. Through 2023, the value of Ethereum grew by more than 85%.
Notably, Ethereum outperformed the S&P 500 and many of the most popular traditional investment assets.
4. At $3,247.29 currently, Ethereum’s price is gradually approaching its previous all-time high of $4,878.26.
Many experts predict it will reach a new all-time high sometime in the near future, with some estimates as high as $10,000 per 1 ETH.
The 2024 Annual Report on Crypto Philanthropy
Discover key trends, signals and fundraising strategies for what could be the biggest year for crypto philanthropy on record.
5. The Ethereum blockchain had a record-high 1,961,144 transactions on January 14, 2024.
As evidence of its lasting popularity, the blockchain has averaged more than 1 million daily transactions in recent years.
6. In February 2024, Ethereum transactions moved $114.8 Billion in assets.
Ethereum’s transaction volume reached a six-month high in February.
7. The Ethereum network had 14.1 Million active addresses in January 2024.
During the peak of the previous bull market, Ethereum had 20.7 Million active addresses.
8. Decentralized applications, protocols and even “Layer 2” blockchains have been built on Ethereum blockchain—and many have their own tokens.
The Giving Block’s nonprofit fundraising solution supports a variety of ERC-20 tokens, including Chainlink (LINK), Uniswap (UNI), Aave (AAVE) and Shiba Inu (SHIB).
9. The Ethereum blockchain reduced an estimated 99% of its energy needs after switching to a proof-of-stake consensus mechanism.
Wondering what’s fact vs. fiction when it comes to crypto’s energy usage? Explore our article focused on the top 5 myths about the topic.
10. Ethereum co-founder Vitalik Buterin has given away more than $1 Billion worth of crypto in the form of charitable donations.
He’s made gifts to support humanitarian aid in Ukraine, COVID-19 relief, and groundbreaking medical research.
11. In 2021, an anonymous NFT creator made headlines with an ETH donation valued at $3.5 Million.
Using proceeds from sale of NFT artworks, the donor wanted to help Médecins Sans Frontières (MSF) provide medical help around the world.
Donations like this are rocket fuel for taking crypto and NFTs mainstream. This is the type of transformational crypto philanthropy that gets the world embracing the technology.
12. Ethereum is widely credited with helping NFT culture reach its “full potential.”
Ethereum provided a new model for minting, storing, and trading NFTs that is now widely replicated on other blockchains.
13. The team behind the Bored Ape Yacht Club, a blue-chip NFT project, helped pioneer NFT-based crypto philanthropy.
BAYC’s creators made a large ETH donation to Orangutan Outreach, a nonprofit working to rehabilitate orangutans in Sumatra and Borneo.
14. If approved, spot Ethereum ETFs could bring $45 Billion of inflows in the first year.
While there’s no guarantee Ethereum ETFs will be approved by the SEC, Standard Chartered bank’s bullish prediction suggests that retail investors want ETH exposure.
15. Ethereum announced the Dencun upgrade in March 2024, which makes Layer-2 transactions significantly cheaper.
This upgrade positively impacts Layer-2 Ethereum scaling solutions including Arbitrum and Optimism.
16. Ethereum donations are currently the most-given asset in Save the Children’s HOLD Hope Campaign.
The international humanitarian organization’s crypto-only fund posts a leaderboard of cryptocurrencies it has received.
17. Ethereum donors out-gave Bitcoin donors in 2021 and 2022.
Could it happen again in 2024? If ETH donors are actively stewarded by nonprofit organizations this year, we think it’s very possible.
How to Accept Ethereum Donations in 2024
In the previous crypto bull market, we saw many crypto investors make tax-efficient Ethereum donations.
As we head into another big year for crypto, don’t wait to set up your nonprofit’s crypto donation form.
Discover how your organization can get started with The Giving Block, the #1 platform for crypto philanthropy.
