Test Token (TST): BNB Chain Demo Token Turned Meme Coin
The crypto market is no stranger to bizarre and unpredictable trends, especially in the meme coin space. Dogecoin (DOGE) was created as a joke but became the largest meme coin, reaching a market cap of over $69 billion at its peak.
On Feb 6, 2025, the market witnessed another addition to this phenomenon with the Test token (TST). TST was originally created during a video demonstration by the BNB Chain team, but inadvertently became a meme coin on BNB chain, reaching a peak market cap of $489 million. In this article, we’ll explore TST’s origin and its accidental rise to fame, and see where the token can be traded.
Key Takeaways:
TST was never intended to be a tradable asset, but it gained traction after a tutorial video accidentally exposed its name, triggering a speculative frenzy.
Binance co-founder CZ’s mention of TST and BNB Chain’s subsequent listing fueled the token’s meteoric rise, despite CZ’s explicit disclaimers.
Like all other meme coins, TST remains extremely volatile. In its first three days, the token’s price appreciated by a factor of 200x, and in the days following that, it has retraced almost 70%.
Test Token Origins
On Feb 5, 2025, the BNB Chain team published a step-by-step tutorial video for a Pump.fun-like platform called four.meme. This platform was designed to simplify the process of creating and launching meme coins on BNB Chain. As part of this video tutorial, the BNB Chain team created and launched a coin called Test with the TST ticker. The token was never meant to be publicly available for trade. For this reason, most of the video didn’t show the name of the coin or the ticker. However, at one frame at 1 minute 18 seconds, the name became visible.
This unintentional exposure caught the attention of Chinese crypto influencers and traders, who quickly began promoting and trading TST. A new narrative was created that Binance has launched its own meme coin. The video quickly went viral, and the market cap of the TST token reached nearly $500K.
The BNB Chain team quickly distanced themselves from the coin, explaining that it wasn’t meant to be a meme coin, but just an example demonstrating to viewers how to create new tokens. The BNB Chain team also deleted the video and the private key to the tutorial wallet. This, however, did little to quell the TST mania, as the token continued to rise both in market cap and user trading volume.
CZ And Token Growth
On Feb 6, 2025, Changpeng Zhao, former CEO of Binance and known as “CZ,” took to X to address the TST phenomenon. He clarified that the token was purely educational, with no official backing from Binance or the BNB Chain team. However, he also informed the crypto community that he has asked the tutorial video to be reposted, as the information was already out in the open. This post was interpreted as tacit approval by many traders, leading to another sharp increase in the price and market cap of the TST token. Over the next two days, its market cap rocketed from less than $10 million to $186 million.
On Feb 9, 2025, Binance announced that it would list TST on its spot exchange at 11:00AM UTC that same day. This led to another round of frenzied buying, pushing TST’s market cap to nearly $500 million. That same day, CZ published another post on X, in which he defended his stance on meme coins, reiterating that he doesn’t buy or hold any meme coins in his portfolio.
As of Feb 11, 2025, the token has given back most of the gains that followed the Binance listing announcement, and its market cap is currently valued at around $155 million.
The Power Of Community And Hype
Despite Binance and CZ’s clarification, TST went on a tear. The frenzy following the announcement of Binance’s listing also created windfall returns for early buyers. According to DEX Screener, the top 3 traders of the token have realized profits of $2.60 million, $2.30 million and $1.70 million, respectively. TST is another example of the way in which meme coins can be driven entirely by attention. Whether it’s deliberate or accidental seems to be irrelevant.
Ultimately, the story of the Test (TST) token is a microcosm of the crypto market’s contradictions: a demo token turned speculative asset, fueled by community hype and amplified by mentions from influential figures such as CZ — even if the mention wasn’t an endorsement.
Where to Trade TST
For those who want to trade this new meme coin, Bybit just launched the TSTBSCUSDT Perpetual contract with up to 50x leverage. You can find more details in the announcement post and start trading TST here. As with any investment in a meme coin, exercise caution in the volatile crypto market, never invest more than you can afford to lose — and DYOR.
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