The recent mention from former Binance CEO Changpeng ‘CZ’ Zhao might have influenced the latest price action as seen in the Test Token (TST) linked to BNB Chain. The token currently trades at $0.1091 after bagging up to 35.56% within the last 24 hours.
The BNB Chain AMM Shocker
As he is popularly referred to, CZ started his post on X by saying it was his first time using an Automated Market Maker (AMM) liquidity pool. Furthermore, he acknowledged that he never had any reason to utilize a Decentralized Exchange (DEX) in the past. The Binance Founder said he has always used Centralized Exchanges (CEXs) to complete his transactions.
For a change and as a test, he attempted to put a few BNBs in TST.
“I seen demos of Pancake before. It looked so simple. I thought, how hard could it be? But I forgot my IQ level. (Look on the bright side, it shows you don’t need to be smart to get lucky,” CZ wrote on X.
He claimed not to have followed tutorial videos because he was out to see how his first BNB Chain experience would be. CZ noted that there is still room to improve the overall DEX experience as many have equally noted.
However, he pointed out two shortcomings: the error messages and the platform’s lack of confidentiality. His statement suggested disappointment in this regard.
The TST Price Trend and CZ Memecoin Links
CZ’s statement has once again placed the spotlight on BNB Chain TST, judging by the 35.56% increase recorded. This marks an opposing reaction to the token. After a few days, CZ announced that he wished to compensate victims of TST and BROCCOLI tokens over accrued losses.
This came after CZ’s pet Broccoli triggered the creation of many alternative tokens that got caught in pump and dump over the past week. With links to CZ, both tokens plummeted 60-80% from their peak within this period, creating a significant market panic.
Noteworthy, BROCCOLI is a meme coin inspired by the Binance founder’s dog. Despite its uncertain trends, the memecoin, which is on the BNB Chain ecosystem, is currently gaining traction. Last week, a crypto whale bought BROCCOLI, fueling a 160% surge in the token at the time.
This made it one of the hottest tokens in the market at the moment. Notably, social media hype and speculation continue to push its value higher, with whale transactions adding to the frenzy.
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