DeepBook Protocol (DEEP) Price Surges 20% Following Upbit Listing
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- DeepBook Protocol native DEEP token price increased by more than 20% today.
- South Korean Upbit exchange announced the beginning of DEEP/KRW trading on its platform.
Market price surges following token listing announcements are not new to the crypto industry. This is very prevalent when it comes to announcements from top crypto exchanges with a wide user base. The recent token listing announcement by Upbit exchange has triggered a price surge in DeepBook Protocol’s DEEP token.
DEEP token is trading at $0.1114 with a significant price increase today. It recorded a 21.30% daily surge and a 36.34% weekly surge. DEEP token’s market cap is standing at $340.76 million, which made it the top 131 token as per CoinMarketCap data. The significant surge of 1,521% in its trading volume indicators increased investor enthusiasm in the DEEP token.
DEEP Token Soared Following Upbit Token Listing Announcement
The largest crypto exchange platform in South Korea, Upbit, announced DEEP token listing earlier today. A few minutes after the Upbit announcement, the DEEP token price skyrocketed from $0.092 to a peak of $0.1787. The 92% volume to market ratio, which indicates ultra-high liquidity, is the most notable characteristic of the DEEP token.
Another leading crypto exchange, Binance, has made the DEEP token available on its platform. Instead of spot trading, Binance Futures launched DEEPUSDT perpetual contract trading for its users.
The current price surge seems to be solely because of the hype around the Upbit DEEP token listing announcement. While it has played its part, the DeepBook Protocol fundamentals are also strong, which has gathered investor interest.
DeepBook Protocol DeFi project works based on the Sui blockchain. It brings a wide range of features such as flash loans, parallel execution, and simplified trading experience. Its native DEEP token has been on an upward price momentum, fueled by its strong fundamentals.
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