CZ's First DEX Trade Sparks TST Meme Coin Rally
1min read Binance founder Changpeng Zhao (CZ) made headlines recently when he conducted his first-ever decentralized exchange (DEX) trade, involving the purchase of TST, a meme coin based on the Binance Smart Chain (BSC). The trade triggered a significant rally for TST, with its price surging nearly 50% within 24 hours to reach a one-week high.
CZ, who has largely stepped back from Binance's daily operations, admitted to facing challenges during the DEX trade, as he had never used a DEX before, having always traded on centralized exchanges (CEX). Despite the difficulties, his actions continue to shape market sentiment, sparking speculation across the crypto community about potential new Binance-related products or initiatives.
In his DEX trade, CZ spent 1 BNB (worth approximately $660 at the time) to acquire 5,388 TST. He then contributed 1,111 TST and 0.096 WBNB (worth around $64) to the liquidity pool. Following this trade, TST's value surged by over 50%, demonstrating the influential power of CZ's involvement in the crypto market.
TST, initially launched as a test token by BSC meme coin deployer Four.Meme, has gained significant attention since CZ's social media mention of the asset. While some view his involvement as an experimental trade, critics argue that it inadvertently boosted engagement on the BNB Network.
