Binance Founder CZ’s First DEX Trade Triggers a 50% Rally for TST Meme Coin
In Brief
- Binance co-founder Changpeng Zhao (CZ) executed his first-ever decentralized exchange (DEX) trade.
- He purchased the TST meme coin and provided liquidity, which led to a 50% price surge for the token.
- This shows that CZ’s actions continue to influence and impact the crypto market sentiment
The Binance Smart Chain (BSC) meme coin, TST, has jumped nearly 50% in the past 24 hours, reaching a one-week high.
The price spike comes after Binance co-founder Changpeng Zhao (CZ) conducted his first-ever decentralized exchange (DEX) trade involving the token.
CZ Trades on a DEX for the First Time Using TST
On February 22, CZ executed his first-ever DEX trade, purchasing TST and providing liquidity.
He admitted facing difficulties since he had never used a DEX before, having always traded on centralized exchanges (CEX).
“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,” CZ stated.
Despite stepping back from Binance’s daily operations, Zhao’s actions continue to shape market sentiment. His unexpected move has sparked speculation across the crypto community. Some users on X believe it hints at a potential new Binance-related product or initiative.
Meanwhile, the Binance founder stated that his goal was to contribute Binance Coin (BNB) to the TST liquidity pool, but navigating the unfamiliar interface proved challenging. Liquidity providers help facilitate trades and, in return, receive a share of transaction fees.
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Blockchain analytics platform Lookonchain reported that CZ spent 1 BNB (worth $660) to acquire 5,388 TST. He later contributed 1,111 TST and 0.096 WBNB (worth $64) to the liquidity pool.
“I didn’t follow any video tutorials. I kinda wanted to see what a first experience would be like. As a noob, I have to say the DEX experience can be improved, a lot! The error messages don’t make any sense. There are probably bots trying to front run my public address (or any large transaction I suspect). And why can everyone watch what I was doing in real time?” CZ wrote on X (formerly Twitter).
Following his DEX trade, TST’s value surged by over 50%, showing how influential his involvement remains.
However, the token still trades significantly below its all-time high of $0.47, recorded on February 9.
TST was initially launched as a test token by BSC meme coin deployer Four.Meme. CZ’s social media mention of the asset brought significant attention.
While some view it as an experimental trade, critics argue that his involvement inadvertently boosted engagement on the BNB Network.
