The ANIME token, the native token of the Animecoin Foundation, experienced a surge of 12% following the announcement of its listing on the major South Korean exchange, Bithumb. This surge saw the token reach an intraday high of $0.0502 on Jan. 31, representing a 15% increase from its weekly low of $0.0437. With an altcoin market cap of $278 million and a daily trading volume of $153 million, ANIME is making waves in the crypto market.
The rally for Animecoin was sparked by Bithumb’s announcement of adding a KRW trading pair for the ANIME token on Jan. 31, alongside the VTHO token on the Arbitrum network. The trading restrictions for ANIME include a brief period where buy orders are limited, and automated orders can only be placed after the first trade has been executed. The base price for the token is expected to be around $66.11 once trading officially commences.
The addition of an ANIME/KRW trading pair on Bithumb allows for direct trading between the ANIME token and the South Korean won. This listing follows similar moves by other major exchanges like Upbit, which listed three ANIME trading pairs on Jan. 23. Despite the initial drop in price since its launch, ANIME has garnered attention from prominent exchanges like Binance, Bybit, and OKX.
The ANIME token, initially launched as a meme coin, aims to serve as the governance token for Animechain, an upcoming Arbitrum Orbit Layer-3 developed by the Animecoin Foundation. With the launch of Animechain scheduled for the first quarter of 2025, ANIME’s utility is expected to increase, potentially influencing its price trajectory.
While listings on exchanges like Upbit and Bithumb often lead to price rallies, the impact on newly launched tokens like ANIME can be unpredictable. Traders may rush to sell holdings acquired during token generation events, causing fluctuations in the token’s price. However, with the development of Animechain on the horizon, ANIME’s future looks promising as it establishes itself as a key player in the anime industry.