CZ Tests Mubarak Token, Sparking Price Surge
Changpeng Zhao, the founder of Binance, made a leveraged trade on Mubarak (MUBARAK). He used 0.04 BNB as collateral for a 24.7x long position on APX Finance. This action caused a spike in MUBARAK’s price.
On March 23, Zhao opened a high-risk trade. the move was to check for Maximal Extractable Value (MEV) issues. MEV is when validators reorder transactions for profit. he did this on APX Finance. An analyst on X noted the trade. Zhao said it was just a test.He often tests new platforms.
Within minutes, APX’s price jumped 26%. MUBARAK also rose by 5.5%. The trade used a public donation address. The position was quickly closed. Despite his calm response, the market reacted strongly. APX and MUBARAK prices soared. This isn’t the first time Zhao’s actions stirred the market.His trades usually cause buying frenzy. In February, he bought 20,150 MUBARAK tokens for 1 BNB. This boosted MUBARAK’s value and trading volume. It briefly topped BNB Chain’s memecoin rankings. The trade aimed to explore MEV on BNB Chain. MEV is a concern for blockchain users. It lets validators reorder transactions for profit. In 2024, BNB Chain users lost $1.5 billion due to MEV.
MEV is a problem for blockchain users. It lets validators reorder transactions. This can hurt users. Zhao wants to fix this issue. he asked users if BNB Chain should reduce MEV. His actions frequently enough cause price spikes. His recent poll on X showed his interest in solving MEV. He seeks to improve BNB Chain’s security.
MEV is common on Ethereum. BNB Chain faces similar issues. Zhao’s trade was a test. He wants to see if MEV still exists.His X post explained the test. He wants to make BNB Chain safer. His poll on X showed his interest in solving MEV. His poll on X showed his interest in solving MEV. He wants to make BNB Chain safer.
MEV is common on Ethereum. BNB Chain faces similar issues. Zhao’s trade was a test. he wants to see if MEV still exists. His X post explained the test. he wants to make BNB Chain safer.
