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St. Jude Children's Research Hospital completes ASTEROID donation asset exit, valued at approximately $676k.
BlockBeats News, May 12 — Marc, the organizer of the St. Jude Children’s Research Hospital crypto donation initiative, revealed that during the process of accepting cryptocurrency donations for the hospital, the team has completed phased exits of ASTEROID-related assets.
An initial approximately 0.5% of ASTEROID tokens were donated to the organization’s ETH wallet and held long-term due to the lack of an immediate fiat exchange pathway. Subsequently, the token price surged significantly, with the holding value fluctuating between $500k and $1 million.
With institutional approval, the team gradually reduced their position through 12 transactions on a decentralized exchange over approximately 48 hours, aiming to minimize market impact, ensure liquidity remained above about $3.5 million, and keep net buying pressure within a certain range.
Ultimately, the entire position was converted into approximately 290 ETH, valued at around $676k, which will be used to support medical and scientific research projects at St. Jude Children’s Research Hospital.