Anime to be Launched on Upbit, South Korea’s Premier Exchange, on January 23
The native token of the Animecoin community will be launched in South Korea on Jan. 23 at 22:00 KST through Upbit, following its listing on Binance.
According to a recent notice, Upbit will introduce the token, which is inspired by the Japanese pop-culture phenomenon, starting from Jan. 23 at 22:00 KST. The South Korean cryptocurrency exchange will offer trading support for ANIME paired with the Korean Won, Bitcoin, and Tether. The token will be available on the Arbitrum (ARB) network.
Traders can begin depositing and withdrawing ANIME at 22:00 KST. Upbit will announce the start of transaction support at a later time. However, due to the token’s newly launched status, the crypto exchange cautioned traders that the token may not have sufficient liquidity to ensure a stable trading experience.
“Upbit will provide additional information on the trading support time through this notice 1 hour before the trading support time after sufficient liquidity is secured within the exchange,” Upbit stated in the notice.
Buy orders for ANIME will be restricted for approximately 5 minutes after trading commences, while sell orders will be restricted for one hour. The base price for the Animecoin token will be announced one hour before trading officially begins.
Animecoin is also listed on other major cryptocurrency exchanges, including Binance, Bybit, and OKX, starting from Jan. 23.
According to the official description, ANIME is a “culture coin of the anime industry” aimed at addressing issues afflicting the animation industry, such as fragmented consumer experience, limited fan participation, and outdated monetization models, using a community-owned creative web3 network.
ANIME will be utilized as a gas and governance token for Animechain, the community’s web3 network scheduled to launch in Q1 of 2025. The project pledges to introduce a range of original and third-party anime content, including games, merchandise, and NFTs.
The Animecoin foundation has prepared a total token supply of 10 billion ANIME tokens, with an initial circulating supply of 7.69 billion ANIME. Around 50.5% of the total token supply will be allocated to the community, while over 20% will be allocated to the team and company.
