Binance Smart Chain (BSC)-Based Meme Coin, TST, Jumps Nearly 50% After CZ Conducts His First-Ever DEX Trade

The Binance Smart Chain (BSC)-based meme coin, TST, has jumped nearly 50% in the past 24 hours, reaching a one-week high.

Binance co-founder Changpeng “CZ” Zhao's first-ever decentralized exchange (DEX) trade has sparked a massive price rally for the Binance Smart Chain (BSC)-based meme coin TST.

According to data from Binance, TST price soared by over 50% in the past 24 hours, reaching a one-week high of $0.123. The token also experienced a 70% surge in 24-hour trading volume, now exceeding $2.5 million.

CZ Trades on a DEX for the First Time Using TST

On February 22, CZ made history by executing his first-ever DEX trade. Notably, he chose TST to be a part of this venture. Interestingly, the Binance founder opted to purchase the meme coin and provide liquidity.

In a series of posts on X (formerly Twitter), CZ shared his experience trading on a DEX for the first time. He admitted to having never used a DEX before, having always traded on centralized exchanges (CEX).

“I wanted to put a few BNB in TST liquidity pool, as a test,” CZ wrote. “I had seen demos of Pancake before. It looked so simple. I thought how hard could it be? But I forgot my IQ level.”

After completing the trade, CZ stated that he planned to contribute Binance Coin (BNB) to the TST liquidity pool. However, navigating the unfamiliar interface proved challenging.

“My goal was to contribute a few BNB to the TST liquidity, but I didn't follow any video tutorials,” he explained. “I kinda wanted to see what a first experience would be like. As a noob, I have to say the DEX experience can be improved, a lot!”

Importantly, liquidity providers help facilitate trades and, in return, receive a share of transaction fees.

Blockchain analytics platform Lookonchain reported that CZ spent 1 BNB (around $270 at the time of the transaction) to acquire 5,388 TST. He later contributed 1,111 TST and 0.096 WBNB (around $64) to the liquidity pool.

“The error messages don't make any sense,” CZ added. “There are probably bots trying to front run my public address (or any large transaction I suspect). And why can everyone watch what I was doing in real time?”

CZ's Involvement Continues to Influence Crypto Market

Despite stepping back from Binance's daily operations, CZ's actions still shape market sentiment. His unexpected move into the world of DEX trades has sparked speculation across the crypto community.

Some users on X believe CZ's actions hint at a potential new Binance-related product or initiative. Others speculate that his trade might serve to increase engagement on the BNB Network.

Meanwhile, several users on X expressed amusement at CZ's 'noob' experience with DEX trading. They highlighted his difficulties navigating the interface, encountering bots, and having his every move scrutinized in real-time.

“This feels like an experiment. Maybe to test something for a new product?” one user commented.

“CZ's first DEX trade experience is quite funny,” another user wrote. “He's learning the hard way, but at least he's trying to understand how the other side lives.”

It's worth noting that TST, initially launched as a test token by BSC meme coin deployer Four.Meme, has garnered significant attention following CZ's social media mentions of the asset.

The token, which was created for testing purposes and has no use case, has experienced massive price rallies andを集めるを集める. While some view it as an experimental trade, critics argue that his involvement inadvertently boosted engagement on the BNB Network.