Bithumb Lists DeepBook Protocol (DEEP) with Trading Volume Surge
South Korea's Bithumb exchange has listed the DeepBook Protocol (DEEP) token on its KRW market, starting trading on January 8, 2025, at a base price of 230 KRW. This listing enables DEEP to be traded directly against the Korean Won.
Key details include:
- DEEP operates on the Sui network with strict compliance rules.
- Deposits from unsupported networks will not be credited; refunds may take time for incompatible tokens.
- Bithumb has prohibited new buy orders for the first five minutes of trading.
- Sell orders are capped within ±10% and ±100% of the base price.
- Automated trading is allowed only after the initial trade.
DeepBook Protocol is a DeFi platform featuring a decentralized central limit order book (CLOB) design. The DEEP token serves multiple roles, including governance, liquidity incentives, staking, and transaction fees.
Market Performance
Since its October launch, DEEP has surged over 500% to $0.166, ranking 216th by market cap at $462 million. In the past 24 hours, despite market slowdowns, DEEP rose 2%, with a 70% increase in trading volume to $96 million.
Current metrics show DEEP near a resistance level of $0.1750, with support at $0.1536. The 50-day moving average has crossed above the 200-day moving average, indicating potential bullish momentum. The Relative Strength Indicator (RSI) is at 67, nearing overbought territory, suggesting further upward movement is possible. Analysts expect continued short-term uptrend, although a fall below support could drop prices to $0.10.