TST got listed on Binance. A few thoughts:
1. CZ said “fundamentals”, then talks about a test coin turned meme coin.
I posted to clarify that TST was NOT endorsed by me/us. It was just a test token used in a video tutorial. But every clarification post just made it more viral for whatever reason. 😂
2. Is CZ shifting away from fundamentals? No. I am a builder. I always focus on fundamentals.
3. Is CZ “into” meme coins now? It depends on your definition of “into,” I haven’t bought a single meme coin so far.
4. Then, is CZ against meme coins? No. Not “into” something doesn’t mean I am against it. I am not into sports cars; I don’t collect art; I haven’t bought any NFTs; I also haven’t bought most altcoins (I hold BTC and BNB). But I am not against any of the above. And I think most of you’d agree, that I have worked hard and "gone to some lengths" to help many altcoins and the crypto industry in general. I adopt the same view towards meme coins.
5. Why did TST get listed on Binance? I don’t know for sure. I am entirely NOT involved in their listing process. Based on historical experience, people always complain, “Why do you list this but not the coin I hold?” You might not like to hear this, but the truth is: exchanges must compete to list popular coins (with trading volume) as early as possible. If your coin is actively sought after by traders, you don’t need to talk to exchanges. As I always say, work on your project, not the exchanges.
6. Why do people buy memes instead of utility tokens? I don’t know, but I will go on a limb and make a few speculations (pun intended).
6.1 During the last four years, a powerful regulatory agency sued almost anyone with any utility token, falsely claiming they are securities. So, people started to launch memes.
6.2 There are groups of traders known as speculators. Things with clear tangible value are harder to speculate on. They stay around the clear value. This is indeed a challenge for RWA. For example, a building whose value doesn’t fluctuate much may not have a lot of trading activity. Then, it won’t have much liquidity, and the order book becomes thin, then even less trading activity, a vicious cycle.
6.3 Memes are fun, etc. It’s a cultural thing. I am not an expert in this area. There are plenty of die-hard defenders of memes. Don’t go against the community.
7. Lastly, it’s clear there are lots of money ready to invest in the market. Lots of opportunities. You need to build things people want.
Happy building and happy memeing! And manage your risks. 🫡
😂 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/DTPHFxejfm platform. In this video, we launched a token named TST as the example.
When we posted the education video yesterday, there is 1 frame at 1:18 where the name gets uncovered.
Chinese community KOL starts to trade this token and promote this token, now the market cap of this token $494.56k."
The team member deleted the video upon learning about it. But the internet does not forget. See👇. I recommended they put the video tutorial back. It is what it is. This is NOT an endorsement from me for the token.
The team member also deleted the private key for the creator address used in the tutorial, which holds 0.13% of the token. And no one on the team (or Binance) holds any of that token.
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.
Happy trading! 🤷♂️
https://t.co/hiHmX6U0GI
$XRP Finally reached $2.35👍
As promised, I want to change someone's holiday and send 10,000 $XRP (~$23,500) to one person by tomorrow.
Just like, retweet and comment '$XRP'.
Random winner in 24 hours. I will announce as a tweet at 12pm EST Sat
🔧💪 Getting Ready for the Shift! 💪🔧
Our team is all set to crush coal material into spec, ensuring top-quality results every time. Precision, power, and expertise are our driving forces as we gear up for another productive shift. Let's do this! 💥 #CoalCrushing