Upbit Lists DeepBook Token, DEEP Price Surges After Announcement
Upbit listed the DEEP token from the DeepBook protocol on April 22 at 05:30 UTC. Currently, DEEP is only available for trading against the Korean won.
DeepBook functions as an on-chain liquidity aggregator and decentralized central limit order book (CLOB) on the Sui blockchain. The recent launch of DeepBook v3.1 enhanced liquidity pools and reduced fees.
Key points:
- DEEP price surged from $0.92 to $0.183 shortly after the Upbit listing announcement.
- A selloff followed, with the price settling at $0.13 and a market cap around $400 million.
- Daily trading volume for DEEP reached $232 million.
- Prior to Upbit, Bithumb also listed DEEP on January 8, resulting in a 70% price increase.
- Recent listings on South Korean exchanges typically boost token prices significantly.
- Upbit ranks fourth globally among exchanges by daily trading volume, which stands at $2.2 billion.