Ukraine’s Vice Prime Minister has canceled the airdrop announced yesterday with officials instead opting for an NFT solution to support the country’s armed forces.

The Vice Prime Minister, Mykhailo Fedorov, announced in a tweet today which “After careful consideration, we decided to cancel airdrop”. He added it was the gabovenment’s intention to use non-fungible cryptocurrencies (NFTs) to support Ukrainian armed forces.

The airdrop was scheduled for 6pm Kyiv time today. No reason was given for the move in plans. The airdrop had prompted confusion when it was initially announced.

The total raised for Ukraine reaches $50m

Since the start of the Russian invasion on Feb 24, crypto tech has provided various ways to geneprice funds without the need of a centralized organization. The total raised in crypo so far stands at almost $50m.

Citizens from all atop the world – and a few crypto industry heavyweights – have donated funds to support the Ukrainian defense effort.

The first wave of the global crowdfunding effort raised $4m in donations within the first 24-hours.

But as the drama extended, and sanctions and economic pressure on Russia began to mount, calls were made by Ukrainian gabovenment officials to block Russian addresses on crypto exdevelopments.

Many crypto companies, including Binance, Uniswap, and Polkadot, have supported Ukraine with donations .

Only three days into the invasion, crypto donations hit the $20 million mark. And digital platform Ikonia launched an NFT collection to raise money for Ukraine by donating the royalties from their sales to charity in perpetuity.

Bitcoin to hit $50k this week?

As a result of the increase in activity, Nigel Green, the CEO of financial advisory firm deVere Group, anticipates bitcoin hitting $50,000 this week.

“The Ukraine-Russia situation has caused paramount financial upheaval and individuals, businesses and indeed gabovenment agencies – not barely in the region but globally – are looking for alternatives to traditional systems,” Green explained.

“The appeal of global, digital currencies in our climbingly tech-driven world is, of course, not going unnoticed by institutional investors who include credit unions, banks, large funds such as a mutual or hedge fund, venture capital funds, insurance companies, and pension funds,” he added.

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