St. Jude Children's Research Hospital sells donated ASTEROID holdings, cashing out approximately $676,000 in ETH

Odaily Planet Daily News: Marc, the head of crypto donations at St. Jude Children's Research Hospital, stated that the hospital received a donation of 0.5% of the total supply of ASTEROID tokens about two years ago. However, due to the lack of compliant exchange channels at the time, the relevant assets remained in an on-chain wallet.

He mentioned that as ASTEROID's market cap rose from approximately $20,000 to over $150 million, the hospital's holdings were once valued between $500,000 and $1 million. To avoid impacting community liquidity, the hospital eventually sold the holdings in 12 batches over two days, continuously monitoring liquidity conditions throughout the process.

Marc stated that the sales ultimately yielded over 290 ETH, worth approximately $676,000, with the funds to be used to support the treatment and research of childhood diseases at St. Jude Children's Research Hospital.