Binance Smart Chain (BSC) meme coin TST has experienced a rapid price surge of nearly 50% within the last 24 hours, hitting a one-week peak.
This surge was triggered by Binance co-founder Changpeng Zhao (CZ) conducting his inaugural decentralized exchange (DEX) trade involving TST.
In his debut DEX trade on February 22, CZ purchased TST and ventured into providing liquidity, despite facing initial challenges due to his unfamiliarity with DEX platforms compared to centralized exchanges (CEX).
“I wanted to test the TST liquidity pool with some BNB. While the Pancake demos seemed straightforward, the reality hit me hard. Let's just say, I underestimated it,” Zhou revealed.
Though CZ has taken a backseat in Binance's day-to-day operations, his recent actions continue to resonate within the market. Speculation within the crypto community suggests that this unexpected move may hint at potential new Binance-related developments.
While CZ's intention was to contribute Binance Coin (BNB) to the TST liquidity pool, the complex interface posed a challenge. Liquidity providers play a vital role in facilitating trades and earning transaction fee shares.
CZ reportedly invested 1 BNB (equal to $660) to acquire 5,388 TST and later added 1,111 TST along with 0.096 WBNB (valued at $64) to the liquidity pool.
Reflecting on the experience, CZ admitted to forgoing video tutorials to authentically navigate the DEX platform, and highlighted areas for substantial improvement to enhance user experience.
Following CZ's DEX trade involvement, TST witnessed a remarkable 50% surge in value, underlining his lasting influence within the market.
Despite this surge, TST still trails significantly below its peak value of $0.47 observed on February 9. Initially introduced as an experimental token by BSC meme coin creator Four.Meme, CZ's acknowledgment of TST sparked widespread interest and engagement.
While some perceive CZ's participation as an experimental endeavor, critics contend that his involvement has inadvertently bolstered activity on the BNB Network.