Former Binance CEO Changpeng ‘CZ’ Zhao’s recent mention has had an impact on the Test Token (TST) price action, linked to the BNB Chain. The token has seen a significant increase of up to 35.56% within the last 24 hours, currently trading at $0.1091. CZ’s post on X revealed that it was his first time using an Automated Market Maker (AMM) liquidity pool, showcasing his interest in decentralized exchange platforms.
CZ admitted to never having used a Decentralized Exchange (DEX) before, as he always relied on Centralized Exchanges (CEXs) for his transactions. His decision to try out TST on the BNB Chain was a test and a change from his usual trading practices. Despite encountering some shortcomings in the DEX experience, CZ’s involvement has drawn attention to the TST token, leading to a surge in its price.
The TST token’s price trend has seen a notable increase following CZ’s engagement with the BNB Chain. This surge comes after CZ announced plans to compensate victims of TST and BROCCOLI tokens, which suffered losses due to pump and dump schemes. The BROCCOLI token, inspired by CZ’s dog, experienced a significant market panic with a 60-80% drop in value from its peak in a short period.
While BROCCOLI continues to face uncertainty in its price trends, it remains a hot topic in the market, with social media hype and speculation driving its value higher. A recent surge in the token’s value was fueled by a crypto whale purchasing BROCCOLI, causing a 160% increase at that time. Despite the volatile nature of meme coins like BROCCOLI, CZ’s involvement and the excitement surrounding the token have contributed to its popularity within the BNB Chain ecosystem.
Overall, CZ’s exploration of the BNB Chain and his involvement with tokens like TST and BROCCOLI have sparked interest and speculation in the market. While there are concerns about the overall DEX experience and the need for improvements, the attention on these tokens has led to significant price movements and increased trading activity. As the cryptocurrency market continues to evolve and attract new participants, the influence of key figures like CZ can play a significant role in shaping trends and investor sentiment.
