The Binance Smart Chain (BSC)-based meme coin, TST, has jumped nearly 50% in the past 24 hours, reaching a one-week high.

The price spike comes after Binance co-founder Changpeng Zhao (CZ) conducted his first-ever decentralized exchange (DEX) trade involving the token.

CZ Trades on a DEX for the First Time Using TST

On February 22, CZ executed his first-ever DEX trade, purchasing TST and providing liquidity.

He admitted facing difficulties since he had never used a DEX before, having always traded on centralized exchanges (CEX).

“I wanted to put a few BNB in TST liquidity pool, as a test. I had seen demos of Pancake before. It looked so simple. I thought how hard could it be? But I forgot my IQ level,” Zhou stated.

Despite stepping back from Binance’s daily operations, Zhou’s actions continue to shape market sentiment. His unexpected move has sparked speculation across the crypto community. Some users on X believe it hints at a potential new Binance-related product or initiative.

Meanwhile, the Binance founder stated that his goal was to contribute Binance Coin (BNB) to the TST liquidity pool, but navigating the unfamiliar interface proved challenging. Liquidity providers help facilitate trades and, in return, receive a share of transaction fees.

Blockchain analytics platform Lookonchain reported that CZ spent 1 BNB (worth $660) to acquire 5,388 TST. He later contributed 1,111 TST and 0.096 WBNB (worth $64) to the liquidity pool.

“I didn’t follow any video tutorials. I kinda wanted to see what a first experience would be like. As a noob, I have to say the DEX experience can be improved, a lot! The error messages don’t make any sense. There are probably bots trying to front run my public address (or any large transaction I suspect). And why can everyone watch what I was doing in real time?” CZ wrote on X (formerly Twitter).

Following his DEX trade, TST’s value surged by over 50%, showing how influential his involvement remains.

However, the token still trades significantly below its all-time high of $0.47, recorded on February 9.

TST was initially launched as a test token by BSC meme coin deployer Four.Meme. CZ’s social media mention of the asset brought significant attention.

While some view it as an experimental trade, critics argue that his involvement inadvertently boosted engagement on the BNB Network.

Ethereum (ETH) has shown signs of recovery after a sharp decline caused by the Bybit hack, which impacted its price. Despite this bounce back, ETH is still down nearly 18% over the past 30 days, reflecting continued volatility.

Notably, ETH’s RSI has rebounded to 58.6 from a low of 39.2 during the sell-off, indicating renewed buying pressure. This recovery in RSI suggests that market sentiment is gradually improving, potentially setting the stage for further price gains if momentum persists.

ETH RSI Has Recovered From the Recent Dip

ETH’s RSI is currently at 58.6, a notable increase from the 39.2 level it reached after the Bybit hack significantly impacted its price.

The recovery in RSI reflects the buying momentum ETH has gained since the sharp decline.

This upward movement in RSI suggests that buying pressure has returned, helping Ethereum price stabilize and potentially paving the way for further price gains if momentum continues.

RSI, or Relative Strength Index, is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100, with thresholds at 30 and 70.

An RSI below 30 is generally considered oversold, indicating potential buying opportunities, while an RSI above 70 is considered overbought, signaling a possible price correction.

ETH’s RSI is currently at 58.6, positioned in a neutral zone but leaning towards bullish momentum. This level suggests Ethereum still has room to grow before reaching overbought territory, potentially leading to continued price appreciation as buying interest remains steady.

Ethereum Whales Accumulated After Bybit Hack

The number of Ethereum whales – addresses holding at least 1,000 ETH – has been rising steadily over the past month, increasing from 5,680 on January 25 to 5,828 on February 22.

This marks the highest level since December 2023, signaling renewed interest and accumulation among large holders. The increase in whale addresses suggests that institutional investors or high-net-worth individuals are building positions, potentially anticipating future price gains, especially between February 21 and February 22, when ETH prices decreased following the Bybit hack.

This growing accumulation could provide a solid foundation for ETH’s price to rise.

Tracking Ethereum whales is crucial because their buying and selling behavior can significantly impact the market.

When whales accumulate, it reduces the circulating supply, potentially driving prices up as demand meets reduced availability. Conversely, when they sell, it can create significant downward pressure on prices.

Currently, the rise in whale addresses indicates growing confidence and a bullish sentiment among large investors.

Although this is the highest level since December 2023, it is still relatively low compared to historical data. This suggests there is room for more accumulation. If this trend continues, it could lead to a sustained upward movement in ETH price as demand outpaces supply.

Will Ethereum Finally Rise Back Above $2,900?

Ethereum’s EMA lines suggest that a golden cross could form soon. A golden cross typically signals a bullish trend and potential upward momentum.

If this occurs, Ethereum could first test a price level near its long-term line (the blue line in the chart) around $2,876. Breaking this resistance could open the door for a move to $3,020.

If the uptrend continues with strong momentum, ETH could even reach as high as $3,442.

However, ETH has struggled to reclaim levels above $2,900 in recent attempts, signaling possible resistance and market hesitation.

If it fails to break through once more and a downtrend begins, ETH price could test the $2,551 support level. Losing this support could result in a sharper decline, potentially falling to $2,159.

Pi Network launched its mainnet with one of the biggest airdrops in crypto history. It was one of the most highly anticipated crypto launches in history, but many have criticized the project as being a pyramid scheme or even a scam.

However, few are aware of the internal leadership turmoil that nearly derailed the project before its launch in 2020.

Pi’s Internal Conflict and Legal Battle

In 2020, Vincent McPhilip, one of Pi Network’s co-founders, took legal action against fellow founders Nicolas Kokkalis and Chengdiao Fan. He claimed they removed him from the company unfairly and mishandled financial resources.

McPhilip alleged that Kokkalis and Fan, a married couple, brought personal conflicts into the workplace, creating a toxic environment.

He described incidents involving verbal altercations and physical confrontations that made it difficult for him to lead effectively. McPhilip further stated that he spent more time addressing their disputes than focusing on business operations.

“Kokkalis and Fan had marital issues which manifested themselves not only in workplace shouting and screaming but acts of physical aggression towards each other witnessed by plaintiff,” the lawsuit stated.

Tensions escalated in April 2020 when McPhilip stepped away temporarily to address internal issues. However, Kokkalis and Fan viewed his absence as abandonment and revoked his access to company assets, including servers and financial accounts.

McPhilip also accused them of trying to dilute his ownership of the project. He claimed they planned to issue new shares at an undervalued price of $0.00005 per share, reducing his stake.

This was particularly significant given that Pi Network had previously secured substantial funding through Simple Agreement for Future Equity (SAFE) investments, raising capital at a $20 million valuation in 2019 and 2020.

Kokkalis and Fan countered these claims, arguing that McPhilip was dismissed due to violations of the company’s policies.

The dispute was ultimately settled in July 2023, but the resolution details remain undisclosed. Since then, McPhilip has maintained his interest in the crypto sector by founding a new project called Knomad and consistently interacting with the sector on X.

Pi Network Rejects Scam Allegations

Despite its growing user base, Pi Network has faced accusations of fraudulent activities.

On February 22, the team addressed these claims, clarifying that scammers unaffiliated with the project had been falsely using its name.

According to the team, a police report in China warned of individuals impersonating Pi Network representatives. The team stated that they had no involvement in the situation and had not been contacted by authorities regarding the matter.

“Pi Network has not been contacted by any police department in China regarding this incident. Pi strongly condemns any alleged activities by any bad actor,” the team stated.

Furthermore, Pi Network dismissed claims of links to cryptocurrency exchange ByBit or its CEO, Ben Zhou. They stated that no official communication had occurred and that Pi Network had never commented on ByBit or its leadership.

The team also distanced itself from a social media account that had made negative remarks about Zhou, reaffirming that the project had no affiliation with the statements.

“Neither Pi Network, nor anyone affiliated with Pi Network, has ever commented about ByBit or Mr. Zhou, whether on social media or otherwise. To that end, other than the comments mentioned in this post, Pi Network – despite the comments made about Pi – still has no comment and retains its position to make no comment regarding ByBit, Mr. Zhou, or their business,” the project concluded.

Despite these challenges, Pi Network’s token has experienced a sharp increase in value. PI experienced an 86% surge within 24 hours, bringing the token’s price to $1.50 as of press time.

This marks a strong recovery from its earlier drop below $1 following the mainnet launch. Pi’s fully diluted valuation now stands at $158 billion, with a market capitalization of around $10 billion.