Former Binance CEO Changpeng Zhao made a symbolic purchase of two memecoins, drawing attention from the cryptocurrency community.
Symbolic Purchase of Memecoins
According to Lookonchain data, Changpeng Zhao purchased one BNB each of two memecoins, Mubarak and Test (TST), via a decentralized exchange. This purchase was made amidst his interest in supporting memecoin development.
Supporting Development on Binance Smart Chain
Zhao has been posting frequently to promote the development of memecoins on the Binance Smart Chain (BSC) network. The memecoin Mubarak was recently launched and has reached a market value of $66 million, with its price increasing by 69% over the last 24 hours.
User Reaction and Market Impact
With CZ's purchases, many users have started sending their own tokens and memecoins to his wallet, often for free. Zhao announced that he would either burn or donate these tokens. His activity on decentralized exchanges has garnered significant market interest.
Changpeng Zhao's symbolic purchase of memecoins highlights his interest in BSC and the development of memecoins, sparking active reactions from the cryptocurrency community.
