CZ’s donation address burned a portion of CZ and TCC tokens, sparking a short-term sharp surge in the related tokens.

According to GMGN data, CZ’s donation address transferred 700 million CZ tokens and 400 million TCC tokens to a black hole address five minutes ago. Triggered by the news, CZ rallied over 220% in a short time, with its current market capitalization standing at $30.48 million; TCC rose 82.51% in the same period, now valued at $7.55 million. Earlier, CZ posted on social media: “I neither hold nor am familiar with the newly launched meme coins CZ, TCC, and AB on BNB Chain. I only interact with active, energetic users in the community. May the best meme coin prevail.” The timing of this burn of popular meme coins by CZ’s donation address is noteworthy. Over the past week, Robinhood Chain has surged, with its on-chain activity (DEX trading volume) ranking second across the entire crypto industry globally.