The controversy surrounding TST (Test Token) on the BNB Chain has escalated after blockchain data revealed that the project’s developer wallet sold its entire holdings — over 30,400 tokens — in a series of four transactions. The move, worth approximately $30,400, has reignited skepticism toward Binance founder Changpeng Zhao’s (CZ) earlier statements about the token’s nature and ownership.
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Background — From Tutorial Token to Market Frenzy
TST was initially introduced as nothing more than a test token used in the BNB Chain team’s tutorial video on the four.meme platform. The token’s name was accidentally revealed in a single frame, which the Chinese crypto community quickly noticed, sparking speculative trading.
In February 2025, CZ addressed the situation on X (formerly Twitter), emphasizing that:
TST was not an official Binance token.
It was created purely for demonstration purposes.
The private key for the token creator’s address had been deleted.
Neither the Binance team nor CZ himself held any TST tokens.
Despite this, TST’s market capitalization surged to $494,560 at the time of CZ’s explanation — and even exceeded $50 million at its peak.
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Developer Wallet Activity Contradicts Earlier Claims
Crypto journalist Collin Wu reported that the TST developer wallet sold all its holdings in four transactions, directly contradicting CZ’s assurance that the private key was destroyed.
While CZ has yet to respond to the new findings, investors have taken to X with criticism.
> “Someone lied about the private key here,” one user posted, reflecting the growing distrust within the community.
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TST’s Price History — From Hype to Collapse
TST’s price trajectory has been volatile and heavily influenced by whale activity:
February 2025: Peaked before collapsing 68% to an all-time low of $0.01547.
Current Price: Around $0.02, far below its highs.
May 2025: Dropped over 40% in minutes after an anonymous whale sold $6–7 million worth of tokens.
Data from CoinMarketCap shows a daily trading volume of $25.7 million, with more than 26% coming from Binance — but demand remains low, and market sentiment is largely negative.
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A Grim Outlook for TST
With the developer wallet now fully liquidated, no clear utility for the token, and lingering concerns over transparency, TST’s long-term prospects appear bleak.
The incident underscores how quickly sentiment can shift in the meme token market, where community trust is as crucial as speculative hype.
Unless there is a public clarification or new development, the TST saga may serve as yet another cautionary tale about the risks of chasing viral crypto trends.