The large space rock, named 2024 YR4, was originally thought to have a 3.1 per cent possibility of smashing into our planet on 22 December 2032.

But fresh data from NASA's James Webb Space Telescope (JWST) has given researchers hope that the moon might bear the brunt of the impact.

"While an Earth impact by 2024 YR4 on December 22, 2032, has now been ruled out, it continues to have a non-zero probability of impacting the Moon at this time." revealed an international team of astronomers in a recent study.

They highlighted that further observations of 2024 YR4 are planned for May 2025 by JWST, aiming to "primarily help refine the orbital and thermal properties" of the concerning cosmic boulder.

Chilling digital simulations had previously visualised the apocalyptic aftermath should 2024 YR4 have struck Earth as initially feared.

If the asteroid were to strike Earth, the energy released could be equivalent to 8 megatons of TNT, capable of devastating an area the size of Washington, D.C.

An explosion of that magnitude would dwarf the destructive power of the Hiroshima atomic bomb by over 500 times - that bomb yielded around 15 kilotons (or 0.015 megatons).

Cyberspace was alight with anxiety and speculation before the relief, including comments such as: "I guarantee they are already building bunkers underground" and tongue-in-cheek prophecies like "That won't happen because obviously Bruce Willis and Ben Affleck are going to go up there, drill a hole in the side and nuke it."