BNB Chain Test Token Skyrockets to $35M Market Cap Before Sharp Decline

BNB Chain Test Token Skyrockets to $35M Market Cap Before Sharp Decline

A test token originally created for a BNB Chain tutorial video experienced an unexpected surge, reaching a market capitalization of over $35 million before crashing to $15 million, highlighting the speculative nature of memecoins in the crypto market.

According to data from Four.Meme, the TST test token, which was initially designed as an educational tool, saw trading volumes exceeding $43 million as traders rushed to buy in.

How a Test Token Became a Speculative Asset

The TST token was created as part of a step-by-step tutorial on how to launch a memecoin using Four.Meme, a social token launchpad on BNB Chain.

However, the test token quickly caught the attention of traders after its name was accidentally revealed in a single frame of the tutorial video. A BNB Chain team member later removed the video upon realizing the mistake, but Binance co-founder Changpeng “CZ” Zhao instructed the team to restore it.

At the time of CZ’s post on X (formerly Twitter), TST had a market cap of $494,000. However, speculation fueled an extreme price rally, pushing its market cap to $35 million before a significant pullback.

CZ was quick to clarify that the token had no official backing, stating:

“This is NOT an official token by the BNB Chain team, or anyone. It is a test token used just for that video tutorial. Nothing more.”

Memecoin Hype and Regulatory Concerns

The meteoric rise and price volatility of the TST token reflects the intense speculation surrounding memecoins, a niche sector that has recently drawn regulatory scrutiny from U.S. lawmakers and financial watchdogs.

In a separate legal case, Solana-based Pump.fun, a popular memecoin launch platform, is facing a class-action lawsuit from investors alleging that the platform marketed and sold unregistered securities.

Filed by Diego Aguilar in the Southern District of New York on January 30, the lawsuit argues:

“The speculative nature of memecoin trading and the prevalence of market manipulation have eroded trust in legitimate cryptocurrency markets and blockchain technology, damaging the credibility of the broader digital asset ecosystem.”

Political and Legal Pressure on Memecoins

Memecoins have also entered political discourse, particularly following the launch of the Official Trump (TRUMP) token in January 2025. U.S. lawmakers and attorneys have raised concerns that the token’s existence could pose a political conflict of interest.

Attorney David Lesperance told Cointelegraph that the TRUMP memecoin violates the U.S. Constitution, warning that it creates a potential avenue for foreign influence over a sitting president.

Similarly, Massachusetts Senator Elizabeth Warren has called for a formal investigation into the TRUMP token, citing similar concerns regarding transparency and potential political conflicts.

Memecoin Frenzy Shows No Signs of Slowing

Despite the ongoing legal scrutiny, memecoins continue to thrive in the crypto space. The unexpected rise of the TST test token, fueled purely by speculation, underscores the irrational exuberance often seen in the sector.

With regulatory pressure mounting, the fate of memecoins as a legitimate asset class remains uncertain—yet traders continue to flock to them, chasing the next speculative opportunity.