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Azuki Creator Token Launch: Will ANIME Price Skyrocket?

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The creator behind the popular NFT collection, Azuki, has announced its plans to enter the crypto market with an ANIME token. After a year awaits, the renowned Web3 studio, Chiru Labs, is set to introduce a crypto project this year to enhance the collection’s entertainment division and build an anime community interaction. Let’s discuss the key details of the token, launch date, tokenomics, ANIME price, and much more.

Azuki Creator’s Token Launch: ANIME Listing Date, Airdrop & More

The team announced the key details of the Anime coin launch on January 13, 2025. The Azuki creator’s token may go live this month, but the exact date has not been revealed yet. It will be introduced to two popular blockchain networks: Ethereum and Arbitrum. The coin will have a total supply of 10 billion tokens, with the initial circulating supply being 7.69 billion.

The ANIME’s tokenomics states that 37.5% of the tokens are set aside for the Azuki NFT community. 24.44% of the supply is reserved for the Animecoin foundation, which will use it for project operations, grants, and interacting with the Anime community to bridge it with the crypto project. The employees, contractors, and advisors are also eligible for the 15.62% rewards, as the web3 studio wishes to reward early contributors.

There’s 13% reserved for community initiatives (AnimeDAO), the Azuki company has allocated 7.44% with three-year unlock periods, and the last Arbitrum Communities and Kaito Yappers have allocated 2% to foster collaboration with anime communities and the Kaito AI.

ANIME Token Distribution ANIME Token Distribution

Hyperlquids and Animecoin are also collaborating, and the HYPE stakers will benefit from this with an ANIME airdrop. This is an attempt to increase user engagement. In a similar effort, the team introduced the Yaps points program. This Yap-to-earn program rewards users for promoting the project on social media platforms like Twitter. This may influence the token’s price after launch.

Azuki NFTs Popularity Sets Support, But Will ANIME Price Skyrocket?

Azuki is a renowned Non-Fungible token collection on the Ethereum network. It has 10,000 anime-themed NFTs, all of which are witnessing a significant boost with the Animecoin launch. A Coingecko post earlier mentioned that many popular NFT series from this collection are rising today after the NFT coin launch announcement. However, the question now is how the popularity of the Azuki NFT will influence the ANIME price.

Azuki NFT ecosystemAzuki NFT ecosystem

Until now, no price has been revealed for the token at launch, so it is hard to conclude what that will be and how it will behave after launch. However, expectations are higher considering the success of another NFT project, Pudgy Penguin. The PENGU token has maintained quite a hype around itself, especially as many traders made heavy returns with its success. Another example is Magic Eden NFT tokens, which are currently struggling but hit the top moments after the launch.

Considering this, it is clear that the support of Azuki NFTs could push the ANIME price higher. However, in the long term, token use cases, tokenomics, and market image are needed to boost the price. Some analysts have presented possible Animecoin price calculations for the token, but investors should await more clarity and the launch to conclude ANIME’s price performance.ANIME priceANIME price

What You Need To Remember?

The crypto community eyes unique projects and their token launches. One such project is the Azuki NFT, which became popular after its launch in 2021. Although the popularity settled down over time, the upcoming Anime coin launch is to change that. The Azuki creator, Chiru Labs, has announced an NFT token launch that will likely occur this month. Even with days to launch, the crypto community seems optimistic about the ANIME token launch and its price performance. Considering the popularity of the Pudgy Penguin’s airdrop and token launch, the Azuiki’s token may perform well. However, things can go the other way depending on user sentiments and tokenomics, as Magic Eden did.

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Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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How Coinbase vs SEC Ruling Could Influence XRP Case

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7 hours ago

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January 14, 2025

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After the Court of Appeals for the Third Circuit’s ruling partially in favor of Coinbase in its rulemaking petition lawsuit with the US Securities and Exchange Commission (SEC), lawyers tracking Ripple vs SEC lawsuit debate over precedent and clear crypto regulations.

The buzz is around another loss for SEC Chair Gary Gensler as another court states the US SEC’s actions in crypto-related lawsuits as “arbitrary and capricious.”

Pro-XRP Lawyers’ View on Implications for Ripple vs SEC Lawsuit

The United States Court of Appeals for the Third Circuit ruled that the SEC was unjustified in its denial of Coinbase’s rulemaking petition. Appellate court judges asked the regulator to provide a clear explanation of rules and guidelines that indicate digital assets are securities and with reasons.

Lawyer James Murphy, aka MetaLawMan, asserts the US SEC should hold off on any crypto rulemaking until the US Congress passes a market structure bill, clearing out the legal distinction between digital asset commodities and securities.

Lawyer Fred Rispoli reacted to Coinbase CLO Paul Grewal’s post “We just won our petition for a writ of mandamus at the Third Circuit.” Rispoli said Coinbase has lost almost every argument and the company’s only win was the court asked the SEC to provide sufficient reason for denying the petition.

However, he added that phenomenal concurrence by Judge Bibas is exactly what has appealed for in the 2nd Circuit Court. The statement focuses on how old rules from a century ago work for crypto. It reads:

“As I explain, its old regulations fit poorly with this new technology, and its enforcement strategy raises constitutional notice concerns.”

Fred Rispoli believes if the 2nd Circuit Court of Appeals decides to adopt this line of reasoning, then “SEC is done for good with crypto.” It means the court may also slam the SEC and may dismiss or extend the appeal as it reveals that the SEC failed to regulate in good faith.

SEC v CoinbaseSEC v Coinbase
Source: Fred Rispoli

Ex-SEC Lawyer’s Insights in Relation to XRP Case

Former SEC lawyer James Farrell revealed that the court ruled that any of the 3 rationales offered by the US SEC might suffice. These are “no need for rulemaking; want more info before rulemaking; or other resource priorities. But SEC had to pick 1 or more and spell out the why.”

He agreed that Judge Bibas’ concurrence was more supportive of the industry. However, the same judge also said “Some crypto assets are likewise nothing but creative schemes to evade securities regulations.”

Thus, the court hasn’t provided any clarity, which may depend on the SEC’s methodology used to classify some digital assets are securities.

Notably, lawyers agree that the ruling may apply in other courts if the majority panel of judges likes the reasoning in a sister court’s concurrence opinion.

Opening Brief in Ripple Vs SEC Lawsuit

The crypto industry and lawyers now await the U.S. SEC’s principal brief related to its appeals in SEC v Ripple lawsuit. It is scheduled to be filed by January 15. However, lawyers such as Jeremy Hogan and ex-SEC Marc Fagel believe pro-crypto Paul Atkins under the Trump administration may decide not to pursue the appeal further.

CoinGape has glanced at what could be expected from the opening brief by the U.S. SEC, as per Form C and outgoing SEC Chair Gary Gensler’s stance on crypto.

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space.

At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as “Best Crypto Media Company 2024” for high impact and quality reporting.

Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Ancient8 (A8) Price Rockets 30% And Drift Token Up 7% Post Major Listing

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14 hours ago

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January 14, 2025

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Bithumb, one of South Korea’s leading cryptocurrency exchanges, has listed Ancient8 (A8) and Drift (DRIFT) tokens on its platform. Following the announcement, A8 price surged by 30%, while the other token gained 7%, showcasing strong investor interest. The listings further reinforce the growing appeal of Web3 gaming and decentralized trading solutions among global investors.

Bithumb Announces Ancient8 and Drift Listing

On January 14, Bithumb announced the listing of Ancient8 and Drift tokens on its platform, adding them to the KRW pairs. Deposits and withdrawals opened within two hours of the announcement, while trading began at 5:00 PM.

A8 debuted at a base price of 429 won, supported on the Ethereum network, requiring 33 deposit confirmations. DRIFT was introduced at 1,605 won, operating on the Solana network, with 20 deposit confirmations. Both tokens are anticipated to attract significant trading activity due to their unique features and use cases.

The inclusion of these tokens highlights the exchange’s commitment to supporting innovative projects in the crypto ecosystem.

Bithumb Trading Rules and Restrictions

To ensure a secure trading environment, Bithumb has implemented temporary transaction restrictions for these new listings. Buying orders are restricted for the first five minutes after trading begins, while selling orders are limited during the same period, preventing prices from dropping below 10% or exceeding 100% of the base price.

Additionally, deposits and withdrawals are supported only through recognized networks. Deposits via unsupported networks will not be processed, and users are advised to double-check the address and network before initiating transactions.

A8 and DRIFT Crypto Tokens Performance

Following the listing announcement, Ancient8 (A8) price saw a 30% surge, with the price now trading at $0.3293. Its 24-hour low and high are $0.25 and $0.3756, respectively. It has a market cap of $76.74 million, and trading volume has increased by 265% after the announcement and is now at $6 million.

Similarly, DRIFT price was trading at $1.183, marking a 7% increase in the last 24 hours. The token rose over 140% in the last quarter. It has a market cap of $324 million and a trading volume of $88 million, which marks a whopping 365% increase in the last 24 hours. Crypto investor Da’G recently shared on X that the token is poised for a breakout, targeting $5 as its near-term goal.

ImageImage
Source: Da’G X

Listings on major exchanges often lead to price spikes by increasing trader and investor access. As seen with Zircuit price surged 35% after the listing announcement on Bithumb platform listing.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Senator Elizabeth Warren Questions Treasury Nominee Bessent

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22 hours ago

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January 14, 2025

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Senator Elizabeth Warren has raised pointed questions ahead of Treasury Secretary nominee Scott Bessent’s confirmation hearing before the Senate Finance Committee. Her concerns, outlined in a detailed 31-page letter, focus on Bessent’s stance on crypto regulation, financial deregulation, tax policies, and the challenges faced by small banks.

Senator Elizabeth Warren Presses Treasury Nominee Bessent on Crypto and Tax Policies

In a 31-page letter to Treasury Secretary nominee Scott Bessent, Senator Elizabeth Warren emphasized the need for clear crypto oversight. She questioned whether the Treasury’s Office of Foreign Assets Control (OFAC) should have authority over stablecoins to address risks like money laundering and sanctions evasion.

Warren urged Bessent to provide a plan for regulating crypto companies that pose threats to financial stability.

Moreover, on tax policy, Warren challenged Bessent’s support for the 2017 tax cuts enacted during the Trump administration, which added $4.5 trillion to the federal deficit. She criticized his “3-3-3” strategy, which proposes reducing taxes, lowering the deficit, and boosting economic growth. 

The anti-crypto Senator demanded specifics on how Bessent would enforce the Corporate Alternative Minimum Tax (CAMT) and address the carried interest loophole.

Concerns Over Deregulation and Financial Stability

Additionally, Warren scrutinized Bessent’s endorsement of deregulation, linking it to the 2008 financial crisis and the 2023 collapse of Silicon Valley Bank (SVB). She cited the Federal Reserve’s report blaming weakened regulations for SVB’s failure. More so, the anti-crypto Senator asked whether Bessent agreed with the assessment.  Senator Warren asked,

“Do you agree with this assessment? What’s your plan to ensure deregulation doesn’t cause another banking crisis?”

Nevertheless, Warren highlighted the importance of upholding the Dodd-Frank Act, which was designed to prevent financial crises. She sought assurance that Bessent would enforce these crypto regulations and avoid policies that could lead to another economic downturn.

Decline of Small Banks and Community Banking

The senator also pointed out the decline of small banks, which dropped from 84% of all U.S. banks in 1994 to 52% by 2022. She raised concerns about the survival of community banks and their role in supporting small businesses. Warren questioned Bessent’s strategy to ensure smaller banks can thrive amid industry consolidation and financial instability.

She also asked for Bessent’s views on proposals to limit the Federal Deposit Insurance Corporation’s (FDIC) ability to sell failing banks to large institutions. Warren emphasized the need for bipartisan measures to raise deposit insurance limits for small businesses.

Similarly, Elizabeth Warren criticized Republican-led efforts to cut $20 billion from the IRS budget. She warned of the impact of enforcing tax compliance for large corporations. More so, the anti-crypto Senator questioned how Bessent would maintain audit quality and recover revenue without adequate funding.

Despite questioning by Senator Warren on crypto policies, Ripple CEO Brad Garlinghouse hailed Scott Bessent as a pro-innovation choice for Treasury Secretary. Garlinghouse expressed optimism for XRP and crypto progress under Bessent, signaling potential clarity on the Ripple-SEC case.

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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