TL;DR
- The TST developer sold their holdings for over $30K despite the private key having been deleted, raising doubts and backlash within the community.
- TST was created solely as a tutorial token to teach how to launch memecoins, but its exposure in a video sparked a sudden surge in price and market cap, which later collapsed.
- CZ clarified that the token is not an official asset of Binance or BNB Chain, confirmed the private key was deleted, and emphasized that the token’s promotion arose independently.
The TST token, originally developed as a tutorial example by the BNB Chain team, returned to the spotlight after its developer unexpectedly sold more than $30,000 worth of tokens. This triggered strong reactions from the community, who questioned how the sale could have occurred if the creator’s private key had been deleted beforehand.
TST was never meant to be a tradable asset; its purpose was to serve as a practical guide for creating a memecoin. However, its appearance in an educational video attracted market interest, causing a sudden spike in demand and price. Early in the year, its value reached $0.52, pushing market capitalization over $200 million. Since then, the price has dropped sharply, currently hovering around $0.026, with market cap near $25 million.
Volatility has dominated TST’s behavior since launch. Recently, the token plummeted 68% in just 15 minutes due to a $102 million trade that triggered forced liquidations totaling $4.47 million. This event pushed the market cap down from $44.7 million to $23.4 million and significantly reduced open interest across major exchanges, including Binance.
TST Is Not an Official Product of BNB Chain or Binance
Binance’s founder, Changpeng Zhao (CZ), clarified that TST is not an official product of BNB Chain or Binance. He confirmed the token was created exclusively for a step-by-step tutorial on the four.meme platform, and the video featuring the token was removed after the unexpected rise in attention. The private key linked to the creator was also deleted, and neither Binance nor the BNB Chain team holds any of those tokens.
CZ pointed out that the token’s promotion arose independently within the community, particularly among Chinese groups, without any official backing. Despite the confusion, he insisted he neither supports nor endorses the token but suggested the tutorial video be made available again for those interested in learning how to create memecoins.
The TST case reveals how the market can distort the original purpose of educational or experimental projects. Even with high trading volume, the token’s price shows weakness, reflecting declining interest and a market that penalizes the lack of real backing behind the token
