DeepBook (DEEP) Doubles in Minutes After Upbit Listing


The native token of the Sui-based DeFi protocol, DeepBook (DEEP), saw a massive price surge after being listed on Upbit, South Korea’s leading cryptocurrency exchange.

DEEP Price Soars on Upbit Listing

DEEP was officially listed on April 22 at 05:30 UTC, with trading open against the Korean won (KRW). Almost immediately after the announcement, DEEP’s price jumped from $0.092 to $0.183 in under 10 minutes—doubling in value in a matter of minutes.

The listing came just a week after DeepBook rolled out its latest upgrade, version 3.1, which brought improvements to liquidity pools and introduced lower transaction fees.

Quick Surge, Quick Correction

Despite the strong initial rally, DEEP’s momentum didn’t last. The token experienced a sharp sell-off soon after hitting its local high of $0.183. At the time of writing, DEEP is trading around $0.13, with a market cap of approximately $400 million and daily trading volume of $232 million.

Currently Deepbook Price trading at $0.1772 as per Coinpedia Market data.


For a more detailed  DeepBook Protocol Price Prediction, check out our full analysis!

What Is DeepBook?

DeepBook is a decentralized central limit order book (CLOB) protocol built on the Sui blockchain. It operates as an on-chain liquidity aggregator, allowing users to trade assets in a decentralized environment with efficient order execution.

Its recent upgrade, DeepBook v3.1, was launched on April 16 and focused on optimizing performance and reducing fees for users.

South Korean Exchanges Fuel DEEP’s Momentum

Upbit is not the first major South Korean exchange to back DEEP. Bithumb, another major platform, listed DeepBook on January 8, triggering a 70% price increase at that time.

This trend isn’t exclusive to DEEP. Upbit’s listing announcements have often had a major impact on token prices. For example:

  • WalletConnect Token (WCT) jumped 36% after its Upbit listing on April 16.

  • SAFE saw a 75% increase following its listing in October 2024.

DeepBook’s explosive price action underscores the strong influence of South Korean exchanges like Upbit on crypto market trends. While DEEP has pulled back from its highs, the listing has brought renewed visibility and trading activity to the token, and many eyes are now on its next move.

Comments

Post a Comment

Popular posts from this blog

Dogecoin Price Prediction: What’s Next for the Meme Coin?

Image
Dogecoin price predictions are buzzing, especially as Bitcoin continues to influence the cryptocurrency market. Currently trading at around $0.11 as per Coinpedia markets data, Dogecoin is navigating both opportunities and challenges in this ever-changing landscape. The Impact of Bitcoin on Dogecoin :Analysts Predict Big Gains Experts have high hopes for Dogecoin, with some predicting it could soar to $2. This optimistic view hinges on Bitcoin reaching $150,000 in the next major market surge, Many are eagerly awaiting the next few months to see how these dynamics play out. Dogecoin's Journey: From Meme to Mainstream Originally launched as a joke, Dogecoin has transformed into one of the most recognized cryptocurrencies. The Dogecoin Foundation is actively pursuing projects designed to enhance its utility and appeal. These initiatives include GigaWallet, LibDogecoin, and RadioDoge, all aimed at streamlining transactions and improving accessibility, especially in areas with limited...
Read more

Is Dogecoin Ready for a Major Price Breakout?

Image
A significant event has recently unfolded in the cryptocurrency world, capturing the attention of Dogecoin (DOGE) enthusiasts. A staggering  700 million DOGE , worth over  $78.68 million , has been transferred between two previously unknown wallets. This transfer has sparked intrigue among traders and analysts alike. The Transfer Details According to Whale Alert , the transaction involved the wallets  "D79tQ"  and  "D9jmV."  While the latter has a history of transactions, the former was completely unknown prior to this event. Such large transfers often lead to speculation about potential market movements. Current Market Update  As of writing this article Dogecoin was trading at $0.13 With 10.52% Increase in last 24 Hours  as per Coinpedia Markets data  For a more detailed analysis of Dogecoin price prediction and what to expect next, be sure to check out our in-depth article. Dogecoin's Price Movement This transfer occurred during a day of m...
Read more

XRP Price Update: Will XRP ETF Filing Sparks Hope ?

Image
This past week, XRP had a chance for a significant breakout. On Tuesday, the Ripple price peaked at $0.53 but dropped nearly 6% on October 31. Despite a slight rebound on Friday, XRP is currently trading at $0.51 as per Coinpedia markets data. For a deeper dive into XRP Price Prediction and market trends, check out our detailed analysis. 21Shares Files for XRP ETF On Friday, XRP saw a small rebound after 21Shares, a prominent ETF issuer, filed with the U.S. SEC to launch an XRP exchange-traded fund (ETF). If approved, the “21Shares Core XRP Trust” will be listed on the Cboe BZX Exchange, allowing investors a cost-effective way to gain exposure to XRP without purchasing the token directly. 21Shares emphasized that XRP is not classified as a security, following the SEC's recent decision not to challenge its legal status during the ongoing Ripple appeal. The ETF aims to provide shareholders with an economical way to invest in XRP. Current XRP Price Analysis Currently, XRP is hoverin...
Read more