The TST coin has recently attracted widespread attention in the market, and its perspective can be analyzed from the following aspects:

From market performance:

- Incredible short-term increase: From February 6 to 9, TST's market value skyrocketed from 500,000 USD to over 500 million USD, increasing more than 100 times in just 3 days, with a maximum increase of 12,749 times and a highest price reaching 0.51 USD. However, the price quickly fell, dropping from a peak of 0.52 USD to around 0.17 USD, a retracement of over 60%, and the market value also fell back to 15 million USD.

- Improved liquidity: After being listed on Binance, TST was provided with more trading channels and capital inflow, significantly increasing its liquidity, but there were also instances of whales cashing out which affected the price.

From its own characteristics:

- Unique origin: TST was initially a teaching test token deployed by the Binance Chain team on the four.meme platform, used to demonstrate the issuance of Meme coins. The original intention was technical education, with no practical application scenarios, no clear deflationary mechanism, application scenarios, or governance functions, and its value is entirely supported by trading demand.

- Scarcity and mystery: As a test token, its quantity is limited, and after being unexpectedly exposed, the market's understanding of it is limited, which has sparked community interest and attracted a large amount of speculative funds.

From a risk perspective:

- High speculative risk: Its price surge mainly stems from the unexpected popularity of the 'teaching coin' and market speculation, relying on community sentiment and market hype, with extreme volatility; when the enthusiasm wanes, it may lead to a sharp price correction.

- Regulatory risk: With the speculative behavior in the meme coin market receiving strict attention from regulatory bodies, such as the U.S. courts accepting collective lawsuits against meme coin issuance platforms, TST may also face stronger regulatory norms in the future, affecting its trading and development.

Overall, the sharp rise and fall of TST coin highlight the high risks and speculative nature of the cryptocurrency market. Investors should remain cautious when facing such coins, fully assess risks, and avoid blindly following trends.