A new meme token, TST, has quickly gained popularity after being accidentally discovered by traders. Initially, TST was created by the BNB Chain team as a part of an educational video to display how to launch the token on the four.meme platform.
In the video clip designed to educate users on how to create a meme token, the name “TST” caught the eye of some members of the crypto community as it appeared briefly in one frame.
The team, after finding out the exposure, erased the video from the web but the internet didn’t forget, and TST was there to stay trading, as traders started pumping its liquidity.
The video and the token attracted the interest of some Chinese crypto influencers who saw the name in the video. They started to endorse TST, which made more traders to start investing in it. In just a short period of time, this token, which was basically an initial test asset, emerged to be a full-fledged tradable token.
Changpeng ‘CZ’ Zhao, the founder of Binance, even mentioned in his statement that maybe TST will continue to trade and be uncensored even if it isn’t officially backed by Binance or the BNB Chain team.
“The team member deleted the video upon learning about it. But the internet does not forget. I recommended they put the video tutorial back. It is what it is. This is NOT an endorsement from me for the token,” he said in a tweet.
Meanwhile, TST took off with a market cap of over $37 million backing up liquidity of $4.5 million. And, this is surprising due to the fact that the token was intended to be a simple test token.
The token went from an initial value of less than $500K to a fully diluted value of over $26 million. In short, meme traders quickly jumped on the asset, thinking it was a ‘stealth launch’ and giving it cult status.
But even if the token was not technically endorsed, it still connected to a ‘test token deployed by Binance,’ which hyped up the token. The team said that they only have a small part of TST, and they have locked their wallets after launching the token.
As TST was becoming more and more popular, it was added to PancakeSwap, which is a popular decentralized exchange (DEX) on the BNB Smart Chain. This helped increase its trading activity, with a liquidity pool of $3.3 million.
The early traders, or “snipers,” made significant profits. One trader made $303,600 by selling the token, while another made $258,200. Soon after, TST was also listed on the MEXC exchange, where it traded between $0.02 and $0.04.
Also Read: Bitstamp Urges XRP Holders to Stay Strong Amid Market Drops
