BlockBeats News, May 12th, according to GMGN data, the on-chain ASTEROID on the Ethereum network surged by nearly 43% in the past 24 hours, pushing its market capitalization to $180 million, with a 24-hour trading volume of $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 she passed away was to meet Musk and she was involved in designing a Shiba Inu-shaped plushie called "Asteroid." After the girl's death, her mother publicly wrote a letter to Musk, which was later amplified by the renowned media personality Glenn Beck on his show. On April 19th, Musk agreed for Asteroid to become the mascot of SpaceX.

Earlier today, Marc, the cryptocurrency donation organizer for St. Jude Children's Research Hospital, revealed that during the process of receiving cryptocurrency donations for the hospital, the team has completed staggered exits of ASTEROID-related assets. Initially, about 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, this holding was entirely converted into approximately 290 ETH, valued at around $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 speculative trends, often lacking real value or utility. Investors should be aware of the risks involved.