5 hours ago
A trial memecoin (TST) built connected BNB Chain saw an explosive 10,000% surge aft a societal media station by erstwhile Binance CEO Changpeng Zhao.
According to data from Four.meme, TST’s worth concisely spiked to $0.0488 pursuing Zhao’s station earlier dropping to $0.0085 astatine property time. The token reached a marketplace headdress of $52 cardinal astatine its highest but has since fallen beneath $10 million.
TST
In a Feb. 6 post connected X, Zhao clarified that TST was created for an acquisition video by the BNB Chain squad connected however to make memecoins. He added that the video unintentionally revealed the token’s name, which led to unexpected trading activity, particularly among Chinese crypto influencers.
In response, the BNB Chain squad deleted the video and the backstage cardinal associated with the token’s creator address, which controlled 0.13% of TST’s supply.
However, Zhao suggested restoring the tutorial portion clarifying that neither helium nor Binance endorsed the token. He stated:
“This is NOT an authoritative token by the BNB Chain team, oregon anyone. It is simply a trial token utilized conscionable for that video tutorial. Nothing more.”
Speculative trading
Despite its trial status, TST has gained traction connected exchanges similar MEXC, attracting speculative traders. Blockchain investigation by Lookonchain revealed that an aboriginal trader initially spent 4 BNB ($2,353) to get 54 cardinal TST.
However, arsenic prices fell, helium panic-sold 27 cardinal TST for 37 BNB ($22,000) but reinvested 16 BNB ($9,000) to bargain backmost 13 cardinal TST.
Following Zhao’s post, the trader capitalized connected the terms surge, selling 14.65 cardinal TST for 595 BNB ($350,000). He present holds 25.4 cardinal TST worthy astir $845,000.
The trader has implicit $1.2 cardinal successful nett connected the BNB Chain TST token arsenic of property time.
The station Changpeng Zhao’s X station sends BNB Chain trial memecoin soaring 10,000% appeared archetypal connected CryptoSlate.
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