The Test (TST) meme coin has delivered significant gains to investors in the past 24 hours as its value has increased by 32% after a controversial listing on Binance that drew scrutiny from the exchange’s founder and former CEO, Changpeng Zhao.
On February 9, Binance announced the listing of Test (TST) in the spot market. The meme coin would be available as a BNB Smart Chain token initially along with 1000CHEEMS.
This meme coin was created by the Binance team to show users how they could easily deploy these digital assets in the exchange’s native blockchain via the Four.Meme protocol. However, a Chinese crypto community picked up the token’s address and started to promote it.
😂 A tricky situation. A BNB Chain team member just told me this:
"We did the step by step video education for launching meme token on https://t.co/74psayTeug platform. In this video, we launched a token named TST as the example.
When we posted the education video yesterday,… https://t.co/lD77CaQDCj— CZ 🔶 BNB (@cz_binance) February 6, 2025
Right after, CZ clarified that the BNB Chain does not directly endorse this asset. However, this added extra fuel to the rally as the token started to be picked up by thousands of investors across the world who follow the influential crypto executive.
Just three days later, TST was listed on Binance’s spot market. As a result, the token has produced gains of 810.5% in the past 7 days alone.
CZ took to X again and reflected on the whole situation, and even criticized his own company’s listing process as it was not clear why TST was brought on board while other popular tokens were not.
“I think the Binance listing process is a bit broken,” CZ commented. Nevertheless, the token’s popularity continues to increase as Four.Meme is now using it as a marketing tool to get more people to adopt and embrace their token-minting protocol.
TST Token Could Drop Further as Binance Listing Tailwind Fades
Right after its Binance listing, TST surged to an all-time high of $0.52 per token. However, early investors started to dump the asset and pushed it below the $0.15 mark. Now, although TST has made a higher low, momentum indicators in the hourly chart are almost turning negative.
The $0.145 level seems to be the most critical area of support for TST in the near term. However, the Relative Strength Index (RSI) has just moved below the signal line, while the MACD’s histogram shows steadily declining positive momentum readings.
A break below this threshold could result in further weakness of TST down the road. Since this is a meme coin with no community, no ethos, and no utility, the risk that an investment in TST at this point can result in disaster is quite high.
In contrast, the presale event of Solaxy’s utility token ($SOLX) is going quite well as investors have been drawn by the project’s robust value proposition, which involves solving Solana’s congestion issues once and for all.
Solaxy Raises Nearly $20M to Further Strengthen Solana’s Ecosystem
Solaxy ($SOLX) is a layer-two Solana scaling solution that seeks to alleviate the mainnet’s congestion by bundling transactions offline.
Since the presale event of its native token $SOLX was launched in December, investors have poured $19.7 million into the project as it comes to solve a real issue that is preventing the Solana meme coin and decentralized finance (DeFi) to grow further.
Back in January, when the $TRUMP token was launched on Solana, the network experienced significant delays and failed transactions. Solaxy would have helped in this scenario as it loads a higher volume of transactions into a single block to reduce congestion in the layer-one blockchain.
Early buyers not just benefit from the upside potential that $SOLX carries at its discounted price of $0.001632 but also through the staking rewards offered by the protocol for those who are willing to help secure the network.
Currently, Solaxy offers a 208% annual percentage yield (APY). These rewards will be distributed in $SOLX tokens once the claim date is announced.
To buy $SOLX, just head to the Solaxy website and connect your wallet. You can either swap USDT, ETH, or BNB or use a bank card to make your investment.
