GuShiio.com Due to a black hole incident, a token TST with a market value of US$100 million has been added to the currency circle. The token was originally just an example token in the BNB Chain teaching video, but it quickly became popular due to community hype. The market value once exceeded US$500 million. Later, Binance even launched a perpetual contract and spot transaction for the token.
Author: Techhub Hotspot Express
Compiled by: J1N, Techhub News
Due to a black hole incident, a token TST with a market value of US$100 million has been added to the currency circle. The token was originally just an example token in the BNB Chain teaching video, but it quickly became popular due to community hype, and its market value once exceeded 5.billion US dollarsLater Binance even launched perpetual contracts and spot trading for the token.
In addition, Zhao Changpeng’s repeated hesitation in the “Test Coin Incident” caused many participants to lament his so-called dislike of Meme tokens,”maybe just dislike the Meme coins issued by others.”
Cause of the incident: BNB Chain teaching video exposure TST
On February 6, the BNB Chain team released a paragraphAbout how to create tokens“Teaching video.” In the video, the team usesTSTAs an example token name. It is worth noting that TST appears twice in the video (1:09 and 1:18), with only one frame each time. After this video was released,Accidents aroused market attention, many KOLs in Chinese communities quickly traded and promoted the token, resulting in its market value.Soars to $500,000 in a short time。
After the incident, the BNB Chain teamThe video was deleted immediately, and destroyed the private key of the creator address used in the tutorial (the address holds0.13% TST）。However, the market hype about TST has begun, prices continue to rise, and community sentiment is high.
Zhao Changpeng clarified: TST is not an official token and the Binance team does not hold it
Faced with the rapid popularity of TST tokens, Binance founder Zhao Changpeng tweeted clarifications many times, emphasizing that TST is only a test token in teaching videos, is not an official token of BNB Chain, and has not been recognized by Binance or himself. He said that the Binance team and himself did not hold TST, and although it was recommended that the team re-upload tutorial videos, this did not mean that he recognized the token. At the same time, he pointed out that the memory of the Internet cannot be erased, and TST is just a test token, that’s all.
TST prices soar, community hype is crazy
althoughZhao ChangpengClarify that TST is only an example token, but the market popularity has not diminished, and TST prices have soared all the way:
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February 6：TSTMarket value hits around $20 million, and then fell back to$18.3 million。
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February 7：TSTMarket value exceeded US$40 million, reach$41.3 million。
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February 8：TSTThe market value exceeded US$100 million in a short time, the 24-hour increase exceeded400%。
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February 9：TSTMarket value exceeded US$500 million。
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February 10: With the launch of the TST perpetual contract in Binyuan, the market value of TST fell to US$200 million, a drop of 62% in 24 hours.
Zhao Changpeng clarified again: TST belongs to the community and Binan does not hold it.
As the price of TST soared, the community spontaneously established the TST official website and X account, and even used the Binance Logo without authorization, causing some investors to mistakenly believe that the project was related to Binance. In response, Zhao Changpeng once again tweeted clarification, emphasizing that the TST website and X account were not created or managed by the Binance team, but were operated by community members. He pointed out that using the Binance Logo without authorization was an infringement and reiterated that he had never purchased or held TST to remind investors to pay attention to risks.
Binance officially launched TST trading pairs, but Zhao Changpeng said he did not know about this
After market hype peaked,Binance officially announced that it will be held at 19:00 on February 9, Hong Kong timeLaunch TST USDT and USDC spot trading pairs; at 21:00 on February 9Launch TST U-standard perpetual contract with a maximum leverage of 75 times。
Zhao Changpeng: Not aware of TST’s online currency security
Zhao ChangpengHighlight the tokenInitially it was just a test token in a video tutorial, was not recognized by him or Binan. However, every time he issued a clarification, it accelerated the viral spread of TST and quickly became a popular Meme token in the market.
Regarding questions from the outside world about whether he deviated from fundamentals and turned to Memecoin track,Zhao Changpeng about thisDirectly deny it, saying that he has always beenFocus on construction and fundamentalsdevelopers. He also reiterated that he had never purchased any Memecoin, but that did not mean he was opposed to Meme culture, any more than he did not collect sports cars, art or NFTs, but still supported the entire cryptocurrency industry.
Regarding how TST is wired by currency,Zhao ChangpengsaidHe wasn’t involved at all, and pointed out that there is competition among exchanges and there is a need to launch hot tokens as soon as possible, especially assets with large trading volume. If a token is sought after by a large number of traders, it will naturally attract the attention of the exchange and there is no need for the team to actively promote it. He suggested that the project partyFocus on the product itself, rather than focusing on listing coins。
As for why Memecoin is so popular,Zhao ChangpengIt is believed that this may be related to regulatory policies, speculative culture and community drive. In the past few years, regulators have targeted manyFunctional tokenThe lawsuit was filed, causing the market to turn to Memecoin. In addition, speculators prefer to trade volatile assets, and Memecoin’s cultural attributes and strong community further boost its popularity.
Finally,Zhao ChangpengIt was pointed out that there is still a large amount of funds waiting for investment in the market, and opportunities still exist. key isCreate products that people really need, rather than being influenced by market sentiment. At the same time, he reminded everyone that while enjoying Meme culture,Risk management must be done well。
