Ethereum On-chain ASTEROID Plunges Over 9% in 24 Hours, Market Cap Falls to $130 Million

BlockBeats News, May 12th, according to GMGN data, the on-chain ASTEROID on Ethereum plummeted over 9% in the past 24 hours, with a market cap falling to $130 million and a 24-hour trading volume reaching $15.7 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 she passed away was to meet Musk and she was involved in designing a Shiba Inu-shaped plushie named "Asteroid." After the girl's death, her mother publicly wrote a letter to Musk, which was later amplified by the renowned media figure Glenn Beck on his show. On April 19th, Musk agreed for Asteroid to become the mascot of SpaceX.

Earlier today, Marc, the crypto donation organizer for the St. Jude Children's Research Hospital, revealed that during the process of receiving cryptocurrency donations for the hospital, the team has completed a staged exit of ASTEROID-related assets. Initially, approximately 0.5% of ASTEROID tokens were donated to the institution's ETH wallet and held long term due to the lack of an immediate fiat off-ramp. Eventually, the position was entirely converted into around 290 ETH, valued at approximately $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, and lacks actual value or use case. Investors should be aware of the risks.