Ethereum-based ASTEROID Dips Over 9% in 24 Hours, Market Cap Falls to $130 Million

BlockBeats News, May 12th, according to GMGN data, Ethereum-based ASTEROID experienced a more than 9% drop in the past 24 hours, with a market cap falling to $130 million and a 24-hour trading volume reaching $23.4 million.

It is reported that the narrative of the meme coin ASTEROID originated from a 15-year-old girl, Liv Perrotto. Her biggest wish before her death was to meet Musk and she was involved in designing a Shiba Inu-shaped plushie named "Asteroid." After the girl passed away, her mother publicly wrote a letter to Musk and the story was further spread by well-known media personality Glenn Beck on his show. On April 19th, Musk agreed to have Asteroid become the mascot of SpaceX.

Earlier today, Marc, the organizer of the St. Jude Children's Research Hospital crypto donation project, revealed that during the process of receiving cryptocurrency donations for the hospital, the team has completed a phased exit of ASTEROID-related assets. Initially, about 0.5% of the ASTEROID tokens were donated to the institution's ETH wallet and held long term due to the lack of an immediate fiat exchange path. Eventually, this position was entirely converted into approximately 290 ETH, valued at about $676,000, and will be used to support the hospital's medical and research projects.

BlockBeats reminds users that meme coin trading is highly volatile, heavily reliant on market sentiment and hype, with no real value or use case. Investors should be aware of the risks.