Binance Founder and former CEO Changpeng Zhao (CZ) attracted attention for the first time by making a memecoin investment. The CZ bought Bnb Chain -based Mubarak (Mubarak) from Memecoin and aroused a great impact in the market. While this move provides serious gains to early investors, the Memecoin market launched a new mobility.
Unexpected Memecoin move from CZ
According to the data of Block Chain Analysis Platform Lookonchain, the CZ’s wallet purchased 20.150 Mubarak Token for 1 BNB (about $ 600) over Pancakeswap. The process took place yesterday at 13:53 (TSI). The CZ, which is not limited to, purchased 9,161 token for another memecoin test (TST) for 1 BNB.
This was surprised by CZ’s contradiction with the past rhetoric. Stating that he had previously criticized the speculative structure of Memecoins and investing only in projects with basic value, CZ was involved in discussions about the exit of TST token last month and announced that he did not buy any memecoin at that time.
The value of Mubarak Token reached the summit
This investment made by CZ increased the interest in Mubarak, while Token’s price also caused a huge increase. Binance Alpha, one of Binance’s sub -platforms, further increased the interest in Token.
Mubarak was released on March 14 on BNB Chain’s Four.mem platform. Token, which had only 6,000 dollars market value when it was first released, grew rapidly thanks to the investment of CZ and the listing of Binance Alpha and reached a market value of $ 135 million. Mubarak became the favorite of investors in a short time when the interest in Memecoins increased gradually.
An investor made 521 thousand dollars profit
The rapid rise of Mubarak created great opportunities for early investors. According to Lookonchain’s analysis, an investor spent 8.55 BNB (about $ 4,947) and bought 12.35 million Mubarak Token. With the rise of the price, this investor sold 2.35 million Mubarak Token to 125 BNB ($ 74.120).
According to the analyzes, this investor’s wallet still has 10 million Mubarak Token and the current value is about 452 thousand dollars. This development increased the interest in the Memecoin projects on BNB Chain, while the network -decentralized stock market (DEX) transaction volume has reached record levels.
