CZ’s First DEX Trade Sparks 50% Rally for TST Meme Coin

Binance co-founder CZ's first DEX trade sparked a 50% rally for TST, igniting buzz and fueling speculation about new Binance initiatives.

The Binance Smart Chain (BSC) meme coin, TST, surged nearly 50% in the last 24 hours, reaching its highest price in a week. The rally follows an unexpected move by Binance co-founder Changpeng Zhao (CZ), who executed his first-ever decentralized exchange (DEX) trade involving the token.

On February 22, CZ made his debut DEX trade, purchasing TST and adding liquidity to the market. He admitted to struggling with the process since he was accustomed to trading on centralized exchanges (CEX). Despite the challenge, he jokingly acknowledged his lack of experience, noting that the DEX interface was more complicated than he anticipated.

"I wanted to put a few BNB in TST liquidity pool, as a test. I had seen demos of Pancake before. It looked so simple. I thought how hard could it be? But I forgot my IQ level,” he shared.

Crypto Community Watches With Interest

His move caught the attention of the crypto community, sparking speculation about a potential new product or initiative related to Binance. Blockchain analytics platform Lookonchain reported that CZ spent 1 BNB (around $660) to acquire 5,388 TST and later contributed 1,111 TST and 0.096 WBNB (worth $64) to the liquidity pool.

Despite not following tutorials, CZ's attempt to engage with a DEX highlighted several issues, such as confusing error messages and concerns about bots front-running large transactions. He also expressed discomfort with the public visibility of his activity.

Following his DEX trade, TST’s value soared over 50%, underlining the significant influence CZ still holds in the market. However, the token's price remains well below its all-time high of $0.47, reached earlier in February.

TST History: Originally launched as a test token by BSC meme coin deployer Four.Meme, TST gained traction after CZ’s involvement. While some view it as an experimental move, others believe his actions inadvertently boosted activity on the BNB Network.