Test Token (TST) Skyrockets in Value After Binance Founder CZ Indirectly Fuels New Meme Token Frenzy

A strange event in the crypto market has raised concerns on the ethics of token launches, with Binance’s founder, Changpeng ‘CZ’ Zhao, indirectly fueling

A new meme token, called TST, has seen its market capitalization reach $52 million, despite being created for an educational video by the BNB Chain team and never intended to be traded.

The token, named after a test token that appeared in the video, was briefly shown in the footage, which demonstrated how to create a meme token on the four.meme platform. However, traders quickly spotted the token's name in the video and began buying it up.

Upon realizing the exposure, the BNB Chain team deleted the video. However, the damage was already done. The crypto community quickly seized on TST, and liquidity began to pour in, turning the test asset into a fully tradable token.

Chinese crypto influencers played a significant role in amplifying TST's token, further boosting speculation and driving up its market capitalization and trading volume.

Despite Binance not officially supporting TST, its perceived connection to the exchange also contributed to the buying frenzy among traders, who viewed the token as a stealth launch, which is a common practice in the meme coin community.

Early investors in TST stood to make a substantial profit, as the token rose from an initial valuation of less than $500,000 to a fully diluted valuation of $26 million.

One early trader managed to cash out $303,600, while another secured profits of $258,200 from their early investments in TST, showcasing the rapid gains that can be made in the volatile and speculative meme coin market.

Furthermore, TST was listed on PancakeSwap, a decentralized exchange (DEX) on the BNB Smart Chain, which brought in liquidity of up to $3.3 million. The token was also traded on MEXC, where it ranged between $0.02 and $0.04.