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Highlights:
- Deepbook (DEEP) is a Sui-based integrated liquidity layer with a Central Limit Order Book (CLOB).
- Bithumb will list $DEEP with specific trading restrictions in place.
- $DEEP experienced a price increase and a significant surge in market volume following the listing announcement.
Deepbook operates within the digital asset sector, specifically focusing on decentralized finance (DeFi). It provides an integrated liquidity layer built on the Sui blockchain, utilizing a Central Limit Order Book (CLOB) model. This structure facilitates the exchange of digital assets.
Bithumb’s Trading Commencement
Bithumb, a digital asset exchange, announced the listing of Deepbook’s native token, $DEEP. The exchange specified that deposits and withdrawals would be available shortly after the official notice. Trading is scheduled to commence on a specific date and time. The initial price for $DEEP is set at a certain amount in won. A certain number of deposit confirmations are required for transaction processing.
Trading Parameters and Safeguards
Bithumb established certain parameters for $DEEP trading to maintain market stability. For a short period after trading begins, buying orders are restricted. Selling orders during this initial period are subject to price limits relative to the initial price. These measures intend to mitigate extreme price fluctuations at the start of trading. Automated orders will be enabled after the first transaction occurs following the commencement of trading.
Market Activity Following Announcement
Following Bithumb’s announcement of the $DEEP listing, the token’s price experienced an upward movement. The market also observed a substantial increase in its trading volume within a specific timeframe. This heightened activity suggests increased interest in $DEEP following the exchange listing news.
