Using the example of creating the TST test token, the BNB Chain developers wanted to show in an educational video how to use the new Four.Pump platform for generating meme coins. Degens took the situation out of control. Let’s talk about this in more detail.
How TST Attracted the Attention of Crypto Users
The capitalization of the TST meme coin quickly reached $500,000. Against this background, Changpeng Zhao (CZ) decided to independently explain what was happening.
“A tricky situation. A BNB Chain team member just told me this:”We did the step by step video education for launching meme token on http://four.meme platform. In this video, we launched a token named TST as the example.When we posted the education video yesterday, there is 1 frame at 1:18 where the name gets uncovered,” the founder of Binance wrote on X (formerly Twitter).
One of the Chinese crypto influencers, after watching the educational video from BNB Chain, immediately started trading TST and promoting this token among his subscribers. When Zhao shared this story, the market value of the meme coin soared to $34 million.
The founder of Binance emphasized that TST is not an official product of the crypto exchange or BNB Chain. The team has already removed the educational video in which the coin’s ticker appeared. In addition, the developers also deleted the private key from the wallet from which the meme coin was issued.
The team member also deleted the private key for the creator address used in the tutorial, which holds 0.13% of the token. And no one on the team (or Binance) holds any of that token,” CZ said.
TST Capitalization Reached $65 Million
Zhao’s message did not stop speculators. On the contrary, the mention of TST by the creator of Binance led to a surge in demand.
According to DEX Screener, the price of the meme coin has soared by more than 239% over the past day.
At the time of writing, TST is trading at $0.7234. The asset’s capitalization is currently $72.3 million.
Trading volume over the past 24 hours exceeded $36 million.
A well-known analyst in the Chinese crypto community under the nickname Ai noticed that one lucky trader turned $35,000 into $657,000 by trading TST. According to the expert, the user bought tokens a few minutes before CZ’s tweet. Against the background of the hype, the amount of his assets increased by 1,885%.
New Platform for Generating Tokens on BNB Chain
Four.Pump, on which TST was launched, is a new platform for generating meme coins built by BNB Chain. With it, users can launch “meme” tokens in just a few clicks. This does not require any coding skills or special technical knowledge.
After the success of Pump.fun on Solana, many blockchains and crypto projects have introduced their own platforms for issuing meme coins. For example, the Tron network has SunPump, and the PancakeSwap crypto exchange recently introduced the SpringBoard platform.
Source: https://coinpaper.com/7373/what-is-the-tst-token-and-why-did-its-price-jump-by-107-271