The post TST Token Developer Dumps $30K, Sparks Community Outrage appeared first on Coinpedia Fintech News
The TST token, originally created by the BNB Chain team as nothing more than a tutorial example, is back in the spotlight for all the wrong reasons.
What began as a harmless memecoin demo has turned into one of the most volatile stories in crypto this year.
Developer Dumps Entire Holdings
In a shocker for the crypto community, a TST developer sold over $30,400 worth of TST tokens in four transactions, fully exiting their holdings. This has sparked questions among traders, who are now demanding clarity over how these tokens were sold or traded, since the creator’s private key was supposed to have been deleted.
TST was never intended for trading. It was part of a step-by-step guide showing how to create a memecoin. When its name briefly appeared in a tutorial video, it caught the market’s attention and sparked a buying frenzy.
By early February, the token’s price shot up to $0.52, pushing its market cap past $200 million. Today, it has dropped sharply to around $25 million.
Even Binance’s founder, CZ, had tweeted about it to explain its origin, which only made more people interested. Later on, CZ clarified that TST is just a test token from a BNB Chain tutorial, and the video and the creator’s private key were then deleted.
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Flash Crash Wipes Out $4.47M in Liquidations
Just days before, the TST token crashed 68% in just 15 minutes from $0.04960-$0.01547, before it stabilised around $0.027. The crash caused $4.47 million in forced sell-offs, mostly from long traders. A huge $102 million trade triggered this crash.
The market cap plummeted from $44.7 million to $23.4 million, and TST’s open interest dropped over 35% across all exchanges on the day before the crash, with Binance seeing a 40%+ decline.
Rumors of Binance backing the token were also false, adding to the confusion.
Trading Volumes Rise but Price Still Weak
The price has bounced back since, but it still looks weak. TST is currently trading at $0.02612, up 1.93% in the last 24 hours. Its 24-hour volume has surged 32% to over $28 million.
Despite high trading volume, the token’s price remains very volatile, with repeated spikes and crashes since its launch. The decline also reflects a general slowdown in the Four.Meme ecosystem, marked by fewer daily fees, new tokens, and active users, signaling weakening interest overall.
A Lesson in Crypto Volatility
Even with a Binance listing, TST’s dramatic price moves show that market sentiments are driving the action. Does TST have a future in the crypto world? That’s something time will tell.
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FAQs
The TST token was created by the BNB Chain team as an example for a tutorial video on how to create a memecoin. It was never meant to be traded.
The token crashed 68% in 15 minutes, triggering $4.47 million in liquidations. This was reportedly caused by a single large trade of $102 million.
Yes, TST sees high trading volume, but its price remains highly volatile with repeated spikes and crashes.
