Recently, the test token TST, created by the BNB Chain team, unexpectedly gained popularity. Earlier today, Binance suddenly announced that they will list TST spot trading at 7:00 PM. Encouraged by this news, TST once again experienced a significant increase, with a market value exceeding 360 million US dollars, setting a new historical high.
Background: Zhao Changpeng shared that the market value of the BNB Chain meme token “TST” exceeded 50 million US dollars in just one hour. Has CZ, who never buys memes, changed?
The meme token TST, created by the BNB Chain team as a demonstration, has recently ignited a market frenzy. CZ, the founder of Binance, explained the situation in a tweet, and with the promotion of Binance Alpha, TST’s price surged by over 1000% in a single day, with a market value reaching a peak of 140 million US dollars at 2 AM this morning.
Binance unexpectedly announced the listing of TST, and its price surged once again, possibly influenced by this news.
GMGN data shows that after the news of TST being listed on Binance Alpha last night, TST reached a peak of $0.227 and then experienced a significant decline. The lowest point was at $0.091 at 9 AM this morning. However, after Binance announced the listing of TST, TST saw another huge surge, skyrocketing by over 300% within half an hour, reaching a high of $0.491.
At the time of writing, TST is priced at $0.391, with a staggering 1140% increase in the past 24 hours.
With TST’s surge, Coinmarketcap data shows that its market value has rapidly climbed to 360 million US dollars.
Early investors profited over 2.5 million US dollars
The surge in TST also allowed early investors to profit. According to Lookonchain monitoring, a wallet address bought 903 BNB (approximately 543,000 US dollars) worth of TST yesterday. After Binance announced the listing of TST and the subsequent surge in price, the address began to cash out, currently making a profit of over 2.5 million US dollars.
Previously, Zhao Changpeng stated this morning that, like all meme tokens, he has never bought or owned TST. He emphasized that it is now a completely community-driven behavior, and everyone should take responsibility for their actions. He also reiterated this afternoon that “it’s not just me, but also the community. TST token has nothing to do with me.”
However, it is worth noting that Zhao Changpeng has always remained neutral towards meme tokens. Although he has repeatedly stated that he does not intend to endorse TST, the rapid listing of TST on Binance inevitably gives the impression of a well-planned move, leading to speculation about Zhao Changpeng’s intention to promote his own BNB Chain ecosystem.