Mubarak’s Incredible Surge

Following a few humorous posts by Binance founder Changpeng Zhao, the price and total market value of an altcoin called Mubarak experienced an incredible increase.

Mubarak, a memecoin on Binance Smart Chain (BSC), has seen an impressive 747% increase in the past 24 hours, pushing its total market cap to $42 million.

The memecoin gained popularity after Zhao shared a photo in a local United Arab Emirates outfit, seemingly supporting the trend with his posts.

One major reason behind the token’s rise was its addition to Binance Alpha, a pool of altcoins evaluated for potential listing by Binance.

However, the token is likely very volatile and should be used with caution. It is not currently listed on any centralized cryptocurrency exchange, leading to the promotion of fake tokens for fraudulent purposes, especially on social media platforms.

In contrast, the Test (TST) token, introduced by Zhao for testing purposes and also on Binance, has fallen 88% from its all-time high price level, currently holding a market value of $59 million.

> This is not investment advice.