Solana Ecosystem Meme Coin ASTEROID Surges 48% Intraday, Ethereum Ecosystem Version Slightly Under Pressure for Correction

BlockBeats News, May 25th, according to GMGN monitoring, the Solana-based Meme coin ASTEROID surged this morning, with its market cap peaking at $15.1 million, currently at $13.8 million, a 48% increase in the past 24 hours. The trading volume during the same period was relatively low, at around $740,000, and the current market cap is down about 25.9% from its all-time high.

On the Ethereum chain, ASTEROID experienced a short-term decline in the past hour, with its market cap dipping close to $91 million at one point, now trading at around $99 million, marking an 18.6% decrease in the past 24 hours, with a trading volume exceeding $11.7 million.

Furthermore, according to monitoring, in the Ethereum version of ASTEROID, a trader (0x68a) executed a large sell-off of 1.515 billion tokens (approximately $363,600) in the past hour, potentially causing downward price pressure, and becoming the largest selling address in the past 24 hours. The trader had previously bought the token with $1.07 million, and has now sold off positions worth $829,000 as of the time of writing, resulting in a total loss of approximately -$136,000.

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 involved.