A token creation tutorial on BNB Chain led to a significant memecoin price shift, influenced by Binance founder's intervention.
Video as a Market Catalyst
On February 6th, a tutorial video by a BNB Chain team member unintentionally sparked interest in a memecoin. The video briefly revealed the test token $TST on the Four.Meme platform. Despite attempts to hide the token's name, it appeared at the 1:18 mark, triggering market excitement.
From Test Token to Market Phenomenon
A Chinese influencer noticed the token, starting extensive trading and promotion, driving capitalization to $500,000 before CZ's involvement.
Key developments included: - Initial removal of the video upon trading discovery - CZ's advice to reinstate the video - A sharp increase in market cap after CZ's post - Peak market cap reaching millions of dollars
CZ's Response and Market Impact
In his social media post, CZ clarified:
1. The private key for the creator address was deleted, burning 0.13% of the token 2. BNB Chain team holds no $TST tokens 3. The token isn't affiliated with BNB Chain or team
Despite stating no official endorsement, CZ's mention caused significant market reaction.
This incident highlights how rapidly crypto markets can respond to social media and key figures. The link between social media popularity and crypto markets is increasingly apparent.
