BNB Chain Test Memecoin Explodes to $52M After CZ Tweet – Here’s Why It Crashed Just as Fast!
CZ’s Tweet Sparks Memecoin Frenzy – Then Chaos
A test memecoin on the BNB Chain, TST via the Four.Meme platform, skyrocketed to a $52 million market cap within minutes of a now-deleted tweet by Binance founder Changpeng “CZ” Zhao. The token surged over 22,500%, reaching $0.0517, before crashing to $0.015 (a $15 million market cap) as traders realized it was never meant to be taken seriously.
What Happened?
- CZ’s Ambiguous Post: On February 6, Zhao shared a BNB Chain tutorial video using $TST as an example for launching memecoins. His caption, “Happy trading!”, ignited speculation.
- Influencer Frenzy: Chinese crypto influencers (KOLs) amplified the token, triggering a buying spree.
- Rapid Collapse: The BNB Chain team deleted the video and creator wallet’s private key, exposing $TST as a test token with no intrinsic value.
CZ’s Clarification
Zhao later stressed that $TST was not an official BNB Chain token and that neither Binance nor its team held any supply. He advised reinstating the tutorial but warned, “This is NOT an endorsement.”
Why Did Traders Fall for It?
- CZ’s Influence: His association with Binance and BNB Chain lent accidental credibility.
- Memecoin Mania: Traders chased the next Dogecoin or Shiba Inu, ignoring red flags.
- FOMO Culture: Crypto influencers capitalized on hype, pushing followers to buy blindly.
Key Stat: At its peak, TST’s trading volume hit TST’s trading volume hit 8.7M in 30 minutes – all for a token designed as a tutorial example.
The Aftermath & Lessons Learned
- Deleted Tutorial: BNB Chain removed the video to curb misuse but faces criticism for poor oversight.
- Trader Backlash: Many retail investors lost funds, calling for stricter safeguards around test tokens.
- CZ’s Dilemma: His casual “Happy trading!” remark highlights the risks of crypto leaders engaging with volatile assets.
Broader Implications for Crypto
- Memecoin Volatility: The incident underscores how easily low-cap tokens can be manipulated.
- Influencer Accountability: Should KOLs face penalties for promoting unintended assets?
- Test Token Risks: Blockchains must clarify educational content to prevent confusion.
Expert Take: A Wake-Up Call
“This frenzy reveals the dark side of crypto’s hype culture,” says blockchain analyst Clara Wu. “Traders prioritize FOMO over fundamentals, and influencers exploit that. Platforms like BNB Chain must isolate test environments from live markets.”
What’s Next for $TST?
The token remains tradable but has no utility. Analysts predict it’ll fade into obscurity, serving as a cautionary tale.
Final Word: Always DYOR (Do Your Own Research). Not all that glitters in crypto is gold – some are just test tokens.
