A recent incident involving the discovery of the test token $TST led to a sharp price increase following a mention by Binance founder Changpeng Zhao (CZ) on social media.
Video Sparks Market Frenzy
In the early hours of Thursday, February 6th, a seemingly innocent tutorial video by a BNB Chain team member inadvertently caused a memecoin frenzy. The video, designed to demonstrate token creation on the Four.Meme platform, accidentally revealed a test token named $TST. This brief exposure led to a chain reaction in the crypto market.
From Test Token to Trading Phenomenon
The situation escalated when a Chinese Key Opinion Leader (KOL) discovered the token and began actively trading and promoting it. This initial promotion drove the token's market capitalization to nearly $500,000 before CZ's involvement.
CZ's Response and Market Impact
In his social media post, CZ made several crucial clarifications: the private key for the creator address has been deleted, effectively burning 0.13% of the token supply. No BNB Chain team members hold any $TST tokens. The token is not officially associated with BNB Chain or its team members. Despite these clear statements, the market reaction was significant.
This unusual incident serves as a compelling example of how quickly cryptocurrency markets can react to social media activity and influential figures, even when those figures explicitly attempt to distance themselves from the asset in question.
