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

Odaily Planet Daily News St. Jude Children's Research Hospital's crypto donation lead, Marc, 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 assets remained in the 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 ultimately sold the holdings in 12 batches over two days, continuously monitoring liquidity conditions throughout the process.

Marc stated that they ultimately exchanged the holdings for over 290 ETH, valued at approximately $676,000. These funds will be used to support the treatment and research of childhood diseases at St. Jude Children's Research Hospital.