ASTEROID on Ethereum drops more than 9% in 24 hours, market cap falls back to 130 million dollars

BlockBeats News, May 12 — According to GMGN data, ASTEROID on the Ethereum chain has dropped more than 9% in 24 hours, with its market capitalization falling to 130 million US dollars, and a 24-hour trading volume of 23.4 million US dollars.

Reportedly, the narrative behind the Meme coin ASTEROID originates from a 15-year-old girl named Liv Perrotto. Her biggest wish was to meet Musk, and she participated in designing a Shiba Inu-shaped plush toy called "Asteroid." After her passing, her mother publicly wrote a letter to Musk, and the story was retold and spread by renowned media figure Glenn Beck on his show. On April 19, Musk agreed for Asteroid to become the SpaceX mascot.

Earlier today, Marc, the crypto donation organizer at St. Jude Children's Research Hospital, disclosed that in the process of receiving cryptocurrency donations for the hospital, the team has completed phased exits of ASTEROID-related assets. Initially, approximately 0.5% of ASTEROID tokens were donated to the institution’s ETH wallet, and were held long-term due to the lack of an instant fiat conversion channel. Ultimately, the entire position was converted into about 290 ETH, valued at around 676,000 US dollars, which will be used to support the hospital’s medical and research projects.

BlockBeats reminds users that Meme coin trading is highly volatile, driven mainly by market sentiment and hype, without real value or use cases. Investors should remain aware of the risks.