A "bloody incident" caused by a test token: TST's market value from 0 to 500 million yuan

Author: Techub Hot Spot Express

Compiled by: J1N, Techub News

Due to a misunderstanding, there is an additional token of TST with a market value of $100 million in the currency circle. The token was originally just a sample token in the BNB Chain teaching video, but it quickly became popular due to community hype, with a market value of over $500 million at one point. Binance later even launched the token's perpetual contract and spot trading.

In addition, Zhao Changpeng's attitude of repeatedly speaking out but stopping during the "test coin storm" also lamented that he did not like Meme tokens, "maybe he just didn't like Meme coins issued by others."

Cause of the incident: BNB Chain teaching video exposed TST

On February 6, the BNB Chain team released a teaching video about "How to Create Tokens ". In the video, the team takes TST as the sample token name. It is worth noting that TST appears twice in the video (1:09 and 1:18), with only one frame at a time. The video unexpectedly attracted market attention after its release, and many KOLs in the Chinese community quickly traded and promoted the token, causing their market value to soar to $500,000 in a short period of time .

After the incident, the BNB Chain team immediately deleted the video and destroyed the private key of the creator address used in the tutorial (which held 0.13% of the TST ). But the market hype about TST has begun, prices continue to rise, and community sentiment is rising.

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 many times to clarify, emphasizing that TST is just a test token in teaching videos, not the official token of BNB Chain, nor has it been recognized by Binance or himself. He said neither the Binance team nor himself holds TST, and although it is recommended that the team re-upload the tutorial video, this does not mean that he endorses 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, and that's all.

TST prices soar, community hype

Although Zhao Changpeng clarified that TST is only an example token, the market popularity remains unabated, and TST's price has soared:

• February 6 : TST's market value hits around $20 million and then falls back to $18.3 million .

• February 7 : TST's market value exceeded US$40 million , reaching US$41.3 million .

• February 8 : TST's market value exceeded US$100 million in a short period of time , with an increase of more than 400% in 24 hours.

• February 9 : TST's market value exceeded US$500 million .

• February 10 : With Binance launching its TST perpetual contract, TST's market value fell to US$200 million, a 24-hour drop of 62%.

**Zhao Changpeng clarified again: TST belongs to the community, Binance

does not hold it**

As the price of TST soared, the community spontaneously established the TST official website and X account, and even used Binance Logo without authorization, causing some investors to mistakenly believe that the project is related to Binance. In response, Zhao Changpeng once again tweeted to clarify , emphasizing that the TST website and X account are not created or managed by Binance team, but are operated by community members. He pointed out that using Binance Logo without authorization is an infringement, and reiterated that he had never purchased or held TST, reminding investors to pay attention to risks.

**Binance officially launched the TST trading pair, Zhao Changpeng said

he was unaware of this**

After the market speculation reached its peak, Binance officially announced that it would launch the TST USDT and USDC spot trading pairs at 19:00 Hong Kong time on February 9 ; and the up to 75-fold leverage TST U standard perpetual contract will be launched at 21:00 on February 9 .

Zhao Changpeng

: I don 't know about TST's launch of Binance

Zhao Changpeng emphasized that the token was originally just a test token in a video tutorial and was not recognized by him or Binance. However, every time he posts clarification, it accelerates the viral spread of TST, making it quickly become a popular Meme token in the market.

Regarding the outside world's doubts about whether he deviates from fundamentals and goes to the Memecoin track, Zhao Changpeng directly denied this , saying that he has always been a developer who focuses on construction and fundamentals . He also reiterated that he never bought any Memecoin, but that doesn't mean he is against Meme culture, just like he doesn't collect sports cars, artworks or NFTs, but still supports the entire cryptocurrency industry.

Regarding how TST was launched by Binance, Zhao Changpeng said he was not involved at all , and pointed out that there is competition between exchanges and popular tokens need to be launched as early as possible, especially assets with large transaction volumes. If a token is sought after by a large number of traders, it will naturally be paid attention to by the exchange without the team's initiative to promote it. He advises the project party to focus on the product itself rather than to be obsessed with listing coins .

As for why Memecoin is so popular, Zhao Changpeng believes that this may be related to regulatory policies, speculative culture and community-driven. In the past few years, regulators have filed lawsuits against many functional tokens , causing the market to shift toward Memecoin. In addition, speculators are more inclined to trade more volatile assets, and Memecoin’s cultural attributes and strong community further boosted its popularity.

Finally, Zhao Changpeng pointed out that there is still a lot of funds waiting for investment in the market, and opportunities still exist. The key is to create products that people really need , rather than being swayed by market sentiment. At the same time, he reminded everyone to do a good job of risk management while enjoying Meme culture.