After the post-launch dip, Animecoin’s native token, ANIME, has experienced a significant surge in value following its listing announcement by Bithumb, one of South Korea’s prominent cryptocurrency exchanges.
This development has not only spotlighted Animecoin but also underscored the growing influence of meme coins backed by vibrant communities like that of anime enthusiasts.
Bithumb listing impact on ANIME token price
The ANIME token, launched as the “culture coin of the anime industry,” saw its price climb by 12% after Bithumb declared its listing, reaching an intraday high of $0.0502.
This surge has marked a 15% jump from its weekly low and it reflects the market’s enthusiastic response to the token’s increased accessibility through one of South Korea’s major trading platforms.
According to the listing announcement, Bithumb will support ANIME/KRW trading pair with deposits only supported on the Arbitrum One network.
Trading was scheduled to start at 7:00 PM on Friday, January 31, 2025.
The exchange has included some strategic trading restrictions to manage the initial volatility.
For the first five minutes of trading, buy orders are restricted, and sell orders are limited to within -10% to +100% of the base price. This strategy aims to stabilize the market entry of the token.
The base price for Animecoin is also expected to hover around $66.11 once trading officially kicks off.
These measures highlight Bithumb’s cautious approach to integrating new, potentially volatile tokens like ANIME into its ecosystem.
Notably, the ANIME/KRW trading pair, allowing for direct exchange with the South Korean won, has played a pivotal role in today’s price rally, with the token’s market cap reaching $278 million and the daily trading volume soaring by 40% to around $153 million.
What is ANIME?
ANIME is the utility token of Animecoin, an Azuki-backed premier Web3 anime brand.
Besides being a memecoin, it’s a cultural phenomenon aiming to empower one billion global anime fans.
Animecoin’s vision is to transform these fans from passive consumers into active participants in a community-owned creative economy.
This ethos is reflected in the token’s distribution, where over 50% of the total 10 billion ANIME tokens are allocated to the community.
This includes a significant portion for the Azuki community as early supporters and for community cultivation through initiatives like AnimeDAO.
The utility of ANIME extends beyond mere trading; it’s poised to serve as a governance token for Animechain, an upcoming Layer-3 blockchain on the Arbitrum network, expected to launch in the first quarter of 2025.
This integration could significantly boost the token’s utility and value, offering a platform for anime creators, fans, and investors to interact in a decentralized environment.
While ANIME has reacted positively to the listing on Bithumb, similar to the enthusiasm seen when Animecoin was listed on Upbit and other major exchanges like Binance and OKX, the token’s journey hasn’t been without its challenges.
Since its peak on January 23, the token has seen a 72% drop from its all-time high despite the recent mining event through OKX’s Jumpstart program, where users staked OKB or BTC to mine ANIME.
ANIME price chart by CoinMarketCap
As Animecoin continues to weave its narrative through the crypto and anime worlds, its success will largely depend on how well it can maintain community engagement, deliver on its promise of utility, and navigate the often-turbulent waters of cryptocurrency markets.
The post Animecoin (ANIME) price jumps after Bithumb listing announcement appeared first on Invezz
