Coinspeaker Bithumb Lists DeepBook Protocol (DEEP), Token Sees 70% Surge in Trading Volume
South Korea’s leading crypto exchange Bithumb has officially listed the DeepBook Protocol (DEEP) token on its KRW market. Trading for DEEP began on January 8, 2025, at 3:00 PM local time, with a base price of 230 KRW. This move has positioned the token to gain traction among South Korean traders, allowing direct trading against the Korean Won.
Operating exclusively on the Sui network, DEEP tokens are subject to strict compliance rules. Bithumb has clarified that deposits from unsupported networks will not be credited, and users may face lengthy refund processes if tokens are sent from incompatible platforms.
To ensure a fair trading environment, Bithumb has implemented safeguards for DEEP’s launch. During the first five minutes of trading, the exchange prohibited new buy orders in the primary market. It has also capped sell orders within ±10% and ±100% of the base price. Moreover, automated trading is only permitted after the initial trade occurs. “These measures are put in place to protect the market and prevent price manipulation during the initial trading period,” a Bithumb representative stated.
This listing follows Bithumb’s massive token listings in 2024, signaling the exchange’s commitment to expanding its portfolio of promising cryptocurrencies.
DeepBook Protocol is a decentralized finance (DeFi) platform built on the Sui blockchain. Known for its decentralized central limit order book (CLOB) design, it aims to provide high-throughput and low-latency trading experiences. DEEP, its native token, plays an important role in the ecosystem, functioning as a governance token, liquidity incentive, staking mechanism, and transaction fee medium.
DeepBook Protocol (DEEP) Gains Momentum
Since its launch in October, DEEP has recorded a surge of over 500% to its current price of $0.166. The token now ranks 216th by market capitalization at $462 million.
Despite a broader crypto market slowdown on Wednesday, DEEP has managed to rise 2% in the past 24 hours, driven by the excitement surrounding its Bithumb listing. The token has seen a 70% increase in its 24-hour trading volume, which now stands at $96 million.
DEEP is currently hovering below its resistance level of $0.1750, with key support level at $0.1536. The token’s 50-day moving average has crossed above the 200-day moving average — a bullish indicator often seen as a buying opportunity.
Meanwhile, the Relative Strength Indicator value is at 67 on the daily chart, which means that DEEP is approaching overbought territory. Moreover, an upward gradient of the RSI chart suggests that the token is likely to continue rising.
Analysts predict that DEEP’s uptrend may persist in the short term, although a fall below the support level could drive prices down to $0.10.
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Bithumb Lists DeepBook Protocol (DEEP), Token Sees 70% Surge in Trading Volume