South Korea’s largest crypto exchange upbit Sui Community Deeepbook (Deep) Tokeen based on it has been included in its trading list on 22 April. Since this listing, Deep Token has become a topic of discussion in the crypto market. Till the news was written, Deep was trading at $ 0.1236 and recorded a rise of over 30% in 24 hours.
What is Deepbook?
Deepbook is a Decentralized Central Restric Sequence Store (Clob) based on Sui Blockchain. It works perfectly on-chain, where order routing, matching and settlement are all on blockchain. The objective of Deepbook is to give better liquidity, low fees and fast trading speed to traders. Its new update V3.1 has further improved the liquidity pool, giving traders faster services in less fees.
Deepbook Upbit Checklist boom
After the list on the upbit, there was a tremendous bounce in the price of Deep. After the initial speed, the token created a local high but after that some investors made profit booking which led to a slight drop in the tokens. Despite this, the token remains around $ 0.13. $ 400 million Market cap and $ 232 million Deepbook is emerging as a strong project with the daily volume of.
Support of South Korean Crypto Exchanges has been found earlier also
Another major exchanges of South Korea before Upbit Bithumb Had listed Deep Token on 8 January. Even at that time almost in the token 70% rise Was seen to be seen. It shows that South Korean Cryptocurrency The listing of a token in the market directly affects its price.
Why is Deepbook special?
The biggest advantage of Deepbook is that it is completely On-chain Having more AMM (Automatic Marketplace Maker) Gives more control and transparency than models.
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This is a better option for refined market makers.
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Sui’s Parallel execution It processes the order rapidly using technology.
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This for the entire Defi Ecosystem of SUI Liquidity hub works as.
Conclusion
After listing on upbit, Deepbook Token has again come into the eyes of investors. Its technical strength, on-chain order book structure and support of South Korean Market make it a strong Defi project. If similar listings and updates continue to come further, then the future of Deep Token can be bright.
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