South Korea’s Bithumb Launches DEEP Token Trading on Sui Network
Bithumb, one of South Korea’s largest cryptocurrency exchanges, has announced the listing of the DeepBook Protocol (DEEP) token. Starting January 8, 2025, DEEP is available for trading in the Korean Won (KRW) market.
The trading will commence at 3:00 PM with a base price of 230 KRW, giving users the opportunity to trade the token directly against the national currency.
Bithumb Launches DEEP Token Trading on Sui Network
According to the Bithumb notice, DEEP token will work only on the Sui network, and the token deposits from other networks will not be accepted.
The deposits and withdrawals were opened right after the announcement of the official timing limit which was two hours. According to Bithumb, it takes 20 network confirmations for deposits to be credited to users’ accounts.
To foster a fair and secure trading process during its launch, some certain measures have been put in place. New buy orders are not accepted in the primary market during the first five minutes of trading session.
The sell orders are also limited to within ±10% and ±100% of the base price during this time period. Additionally, the automated trading will be allowed only after the first trade has occurred.
An official said in an interview, “These measures are put in place to protect the market and prevent price manipulation during the initial trading period.” The listing of DEEP comes after Bithumb added other tokens like PEAQ and Vana to its KRW market in recent days.
Deposit and Withdrawal Guidelines
In compliance with the Travel Rule, Bithumb has observed that deposits and withdrawals shall only be made through supported exchanges. Tokens received from other unsupported platforms will not be credited to users’ accounts and the refund process may extend to several months.
Before transferring their DEEP tokens, users are recommended to double-check the deposit address as well as the network.
The exchange also informed its users that dealings through restricted exchanges may result in account limitations in accordance with the exchange’s terms of service.
“More specifically, when making deposits or withdrawals, please confirm that the token is on the same network and has the same address as your Bithumb account,” the exchange said.
DEEP Token Performance and Technical Analysis
The DeepBook Protocol (DEEP) has been quite bullish, with the price sitting at $0.1741 and a 24-hour trading volume of $56.1 million as of the time of writing. On the DEEPUSD 3-hour chart, the market has formed a rising wedge pattern, which is a bearish pattern.
During the rally, the price is trading close to the resistance level of $0.1750 with the support levels being at $0.1536(50 MA) and $0.1174 (200 MA).
On the DEEP price chart the short-term 50 moving average is currently positioned above the long-term 200 moving average. This crossover is usually seen as a buy signal, meaning that the token has continued to rise in the short-term.
Nevertheless, it seems that this momentum is slowing down as the price nears the upper border of the wedge. If the price falls downward from the pattern, analysts believe that it may continue to decline to $0.10 levels.
On the contrary, if the $0.1750 level is breached on the upside, then there could be an upward trend.
#Bithumb #SouthKorea #SuiNetwork #CRYPTO #Cryptonews

Is Sui Price Poised to Break $6 or Stuck in a Bearish Trend?
Sui Price surges before retracing to key levels. Analysts evaluate SUI's breakout potential or continued bearish momentum amidst market corrections
SUI price surged to a new high of $5.35, fueled by bullish momentum, before facing a market correction. The token has since retraced below $5, marking an 8.58% decline from its all-time high.
This pullback has sparked speculation about SUI’s future trajectory. Analysts now question whether the token will reclaim bullish momentum to break $6 or remain stuck in a bearish trend.
Is Sui Price Heading for a Bullish Surge or Bearish Plunge?
The crypto analyst highlights that Sui price token firmly maintains its position within an ascending channel on the daily chart. This trend showcases a promising bullish trajectory, gaining attention among market watchers.
The analysis suggests a potential pullback to the $4.2385 support level, providing traders with a significant opportunity for bullish continuation. Such a scenario may bolster confidence in the token’s upward movement, encouraging additional buying activity.
Looking ahead, the upward momentum points to notable price targets at $5.81, $6.81, and potentially higher levels. These targets align with the strengthening trend and ongoing positive sentiment surrounding the asset.
SUI Technical Analysis
The layer one soared to a new all-time high of $5.35 on January 6, marking a 20% weekly surge. The token, however, quickly retraced to $4.90, sparking debate over its future price movement.
Meanwhile, Bitcoin experienced a market correction, dropping below $98,000 after briefly surpassing $102,000, leading to significant liquidations. Investors are now closely monitoring SUI’s trajectory amidst shifting market conditions and the broader impact of Bitcoin’s correction on altcoin performance.
At the time of the report, the SUI price is trading at $4.9115, reflecting a slight increase of 0.38%. The current price action places it within a critical range, bordered by the $4.8656 support and the $6.00 resistance levels. This range indicates a consolidation phase, suggesting traders await a decisive breakout.
The Relative Strength Index (RSI) is at 45, trending downward from the overbought. This decline signals weakened bullish momentum, hinting at potential sideways or bearish price movement unless a reversal occurs. The Awesome Oscillator (AO) shows diminishing positive momentum with red bars emerging.
Sui price is at a pivotal stage, poised between bullish breakout potential and bearish continuation. Whether SUI will break $6 or remain under pressure depends on market dynamics and key support levels.
#SuiNetwork #SUİ #Altcoins #Cryptomarket #Cryptonews

Hey, crypto enthusiasts! 🥰🥰

Have you heard of *Sui Network*? If not, now’s the time to pay attention because it’s making some serious waves in the crypto world! 🌊

Sui Network has recently *climbed to the top 15 in terms of market ranking*, and many traders and investors are now watching it closely. But what’s the story behind this rise? 🤔

Let’s dive into the journey of *Sui Network*, how it got to where it is today, and why it’s gaining so much attention. 📈🔥

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*What is Sui Network? 🧐*

Sui is a *high-performance Layer 1 blockchain* designed to provide *speed, scalability*, and *low latency* for decentralized applications (dApps) and digital assets. It aims to solve many of the *bottlenecks* that traditional blockchains like Ethereum face, making it a strong contender in the blockchain space.

Sui was developed by *Mysten Labs*, a team that includes former *Meta (Facebook) engineers* who helped build the *Diem blockchain*. The project focuses on *high transaction throughput*, *low-cost transactions*, and *innovative consensus mechanisms*.

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*Sui’s Journey to the Top 15 🚀*

1. *Launch and Early Beginnings (2022)* 🚀
Sui Network officially launched its *testnet* in 2022, and the project gained immediate attention due to its innovative approach. While most blockchains use a *Proof-of-Work* (PoW) or *Proof-of-Stake* (PoS) mechanism, Sui uses a *Byzantine Fault Tolerant (BFT)* consensus mechanism, called *Narwhal and Tusk*, which is highly scalable and can handle *thousands of transactions per second*.

2. *Mainnet Launch (2023)* 🔥
In 2023, Sui launched its *mainnet*, marking a huge milestone in its journey. The launch of the mainnet saw a wave of *developers* and *projects* building on the platform, thanks to its *low fees* and *speed*. Sui quickly became a *go-to solution* for developers looking to build dApps, particularly those requiring *high-frequency transactions*, such as gaming, NFTs, and decentralized finance (DeFi).

3. *Partnerships and Ecosystem Growth 🌐*
As Sui grew, it attracted *partnerships* with major players in the crypto space, including *blockchain developers*, *investors*, and *projects*. Its ecosystem began to flourish, with a variety of *dApps* being developed, and the *NFT space* on Sui started gaining traction. The network's ability to support high-speed transactions made it a favorite for *NFT marketplaces* and *gaming dApps*.
4. *Market Adoption and Community Engagement 💬*
One of the key factors in Sui’s rise to the *top 15* is its *community engagement*. From the start, Sui focused on building a strong community of developers, investors, and traders who believe in its potential. Regular *updates*, *developer grants*, and *community events* have helped Sui build a loyal following.

5. *The Tokenomics of SUI (Sui’s native token) 💎*
SUI, the native token of the Sui Network, plays a crucial role in its ecosystem. It’s used for *transaction fees*, *staking*, and *governance*. The launch of the *SUI token* helped fuel the network’s growth, and it quickly gained attention from *investors* and *traders* due to its *use case* and *market potential*.

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*Why Sui Network is a Top 15 Network Now 🌟*

Sui’s rise to the top 15 in the market rankings is no accident. Here’s why it’s getting so much attention:

1. *Scalability and Speed 🏎️*
Sui's *high throughput* (thousands of transactions per second) makes it a strong contender against other blockchains. As dApps and decentralized finance (DeFi) grow, the need for high-speed networks is becoming more apparent. Sui is positioned perfectly to capture this market.

2. *Low Transaction Fees 💸*
As more people start using blockchain networks for everyday transactions, high fees on networks like Ethereum become a barrier to adoption. Sui’s low-fee structure attracts users, especially for use cases like *gaming* and *NFTs*, where microtransactions are common.

3. *Innovative Consensus Mechanism 🔐*
Sui’s *BFT consensus* ensures that it’s able to handle high-volume transactions without compromising security or decentralization. It’s a huge technological advantage, especially for projects that require *real-time interactions*.

4. *Developer-Friendly Ecosystem 🛠️*
Sui has a strong focus on *developer adoption*, providing tools and resources for building on its network. With an easy-to-use *SDK (Software Development Kit)*, *documentation*, and a growing *grant program*, Sui is attracting new developers who want to build innovative applications.

5. *Strong Backers and Partnerships 💪*
Sui has received funding from top-tier venture capital firms, including *a16z* and *Redpoint Ventures*. These backing companies provide not only financial support but also strategic partnerships to help Sui grow and gain market traction.

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*Sui Network's Future: What to Expect 🔮*

The future looks bright for Sui as it continues to grow. Here’s what we can expect:
- *Increased Developer Adoption*: As more developers recognize the potential of Sui’s speed and scalability, expect to see more *dApps*, especially in the *gaming* and *NFT* sectors.
- *DeFi Expansion*: Sui’s capabilities make it an ideal candidate for *DeFi protocols*. We can expect to see more *DeFi projects* on the platform, driving adoption and liquidity.
- *Partnerships with Major Projects*: With Sui’s growing reputation, expect more *partnerships* with established blockchain projects, making it a more integral part of the crypto ecosystem.

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*Conclusion: Sui Network’s Bright Future 🌟*

Sui Network’s rise to the *top 15* in market rankings is just the beginning. With its *high scalability*, *low fees*, and *innovative technology*, Sui is poised to become a major player in the blockchain space. 🚀

If you’re not paying attention to Sui yet, now is the time to start! 🕒

Let’s see how far Sui can go in 2025 and beyond. 🌍

$SUI
$BTC

*#SuiNetwork #Crypto #blockchain #SUI #NFT #defi #CryptoInnovation #CryptoGrowth*

$SUI, one of the crypto assets that has recently skyrocketed, has reached an **all-time high (ATH)**! Many are wondering, will $SUI follow in the footsteps of **$SOL (Solana)** which managed to score incredible success at the start of the 2021 bull market?
Solana became one of the biggest success stories in crypto history at the time, jumping from a few dollars to hundreds of dollars in less than a year. **SUI** is now capturing the attention of the crypto community with its meteoric rise. But before we make any predictions, let’s first discuss what **SUI** is and why the project is considered so promising.