Binance’s CZ Sparks TST Meme Coin Frenzy, Traders Reap Huge
Binance founder and former CEO Changpeng Zhao (CZ) inadvertently triggered a craze for TST’s test tokens around test tokens. Interestingly, a lucky trader turned $35,000 into nearly $700,000, accounting for nearly 1,900% of the gains.
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Binance’s CZ claims accidental exposure
The incident originated from an educational video produced by the BNB team that demonstrates how to launch a meme token on the Four.meme platform. However, this led to an unexpected surge in the market value of Token TST.
Changpeng Zhao entered the social media platform X (Twitter) to illustrate how TST gets attention. He listed a now-deleted video tutorial published on the Four.meme platform.
“In this video, we initiated a token called TST as an example…” CZ Explainedciting members of the BNB chain team.
After the BNB team accidentally revealed, members of the Chinese crypto community identified the token and began to actively trade and promote. CZ emphasizes him and Binance Exchange Hold any token.
“This is not my endorsement of the tokens…No one on the team (or binance) owns any tokens. This is not an official token for the BNB chain team or anyone. This is a test token for only this video tutorial. .” he said.
Team members also reportedly deleted the private key of the tutorial wallet. However, this did not stop speculators from jumping in, sending TST’s market cap to nearly $500,000 in a few hours.
Crypto analyst AI illuminates interesting deals. The trader identified by the wallet address 0xebb…74711c purchased a $35,000 TST a few minutes before CZ’s tweet. As the hype was established, traders’ holdings soared to floating profits of $657,000, a staggering 1,885% return. AI speculates that this is pure luck or the trader’s internal knowledge of video leaks.
“Lucky/Smart Currency 0xebb…74711c happened to open a $35,000 position on CZ Twittered TST with a floating profit of $657,000 and a return of 1885%! After CZ tweeted, he quickly increased by 2 He currently holds 28.82 million TST, making him the number one. His luck has also left a deep impression on me. Comment.
Add guesses to encrypt user 0xsun suggestion This address can be linked to members of the Binance chain team. This speculation has raised doubts about potential internal transactions.
Another industry veteran, Elliot’s cryptocurrency (Crypto), noted that members of the BNB community saw an opportunity, piled up in transactions and drove meme-driven price increases.
“Let’s send it to the culture of BNB memes…I mean, there can be huge opportunities on these levels. I have only a small bag and still hold it…it’s been shared first by BNB chains on video , but the community found the cat,” the user Famous.
at the same time, CZ insists that the TST token is purely for demonstration purposes. However, the incident reflects the huge influence of him and other industry leaders. Even unintentional mentions can make the market crazy, enhancing the unpredictable and volatile crypto market.
Gecko Terminal data shows that TST’s market value at press time was $15.1 million, much higher than its debut price, but the price action shows continued profit bookings.
The rise of token launch pads and regulatory scrutiny
It is worth noting that four. BNB ChainBased on the platform, allowing users to easily create and launch meme coins. This is due to the growing trend of the token launchpad, which allows users to easily create and launch new cryptocurrencies.
Launchpad has joined Competitive space. Players like Solana PumpTron’s Sunpump and pancakeswap springboard Already in the market, lowering barriers to token creation and promoting the explosion of meme coins.
However, the growing popularity of these platforms has attracted regulatory scrutiny. Financial Conduct Authority (FCA) in the UK warn Oppose the pump. Beincrypto reported that regulators warned that it could violate financial laws.
In addition, pump.fun faces a strong rebound Harmful live streaming. Here, bad actors use the platform to mislead and manipulate retail investors.
As the token launch pads continue to grow, regulatory oversight is expected to increase. Authorities are trying to prevent manipulation and protect investors from bad actors.
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