YR4, once considered a potential threat to Earth, is now unlikely to hit in 2032, as new data and observations significantly reduce the impact risk, easing fears of a massive asteroid impact.

The likelihood of the 2024 YR4 asteroid hitting Earth is now 0.001 percent, according to the European Space Agency, down from 3.1 percent as forecast by NASA last week. Scientists will continue to monitor its trajectory in the coming months but now expect that the asteroid will pass our planet in December 2032.

Initially, the odds of a collision in 2032 were as high as 3 percent, making it a top concern on global asteroid-risk lists.