TST Memecoin Surges Over 22,500% Following CZ's Post
A test memecoin on BNB Chain, TST, skyrocketed past a $52 million market cap within minutes after a social media post by Binance founder and former CEO Changpeng "CZ" Zhao. The price later stabilized above $15 million.
Zhao’s post highlighted an educational video by the BNB Chain team demonstrating how to create memecoins using the Four.Meme platform.
The video featured TST as an example, triggering an unexpected trading frenzy, particularly among influential Chinese crypto KOLs.
Following the surge, the BNB Chain team removed the video and deleted the private key of the creator address, which held only 0.13% of the total supply.
Addressing the situation, Zhao clarified, "It happened. This is NOT an endorsement of the token," while adding, "Happy trading!" He also emphasized that TST is not an official BNB Chain token and that neither Binance nor the BNB Chain team holds any of it.
TST’s price spiked over 22,500% from its initial value, reaching a peak of $0.0517 and pushing its estimated market cap to $52 million.
In a related development, Zhao had returned to Binance Labs—now known as YZi Labs—in April 2023 to actively engage in investment activities.
