Cryptocurrency Grin Receives $300,000 Bitcoin As A Mysterious Donation
Grin developers have just received a new donation of 50 Bitcoin (BTC) that has surprised the whole developer team behind this cryptocurrency. The donation is currently worth close to $300,000. Grin is a privacy-focused digital asset that implemented the MimbleWimble protocol.
Grin Receives Mysterious $300k Donation
The new donation was shared during a recent meeting of Grin developers. The team behind Grin decided to make a “fair launch” of this digital asset, meaning that leaders didn’t raise funds through an Initial Coin Offering (ICO) or a private sell of their tokens.
They have been working through voluntary donations developing the MimbleWimble privacy technology. Thus, receiving a donation of 50 BTC is a very positive thing for the project that wants to keep expanding and improving. Daniel Lehnberg, one of the developers of the digital asset, said that they will ensure the funds will be used in a good way.
Users can now donate Bitcoin, Ethereum (ETH) and ZCash (ZEC) in order to help the team work on different features for the digital asset. Although it is difficult to get large donations, this shows that they were able to gather a large number of funds to keep operating in the market.
With this last donation, the project is currently holding around six times the amount of funds that it had at the beginning of the current year.
At the time of writing this article, the digital currency is being traded around $2 after falling 3% in the last 24 hours. When the virtual currency was released it was traded close to $14 at the end of January. Moreover, the digital currency has a market capitalization of $19.41 million and it is the 192 largest digital asset in the market.