Anything with momentum has kinetic energy. When it slams into something transfer of momentum takes place depending on the elasticity of the colliding objects. In case of asteroids the transfer of momentum is negligible because most of the energy is lost as heat and asteroid itself breaking apart into smaller fragments.
Initial heat loss is during the atmospheric entry and then after the collision with earths surface.
Whatever the case might be it is definitely hot and explodes like a bomb on collision.
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