Upbit, a South Korean cryptocurrency exchange has listed an altcoin (Sui) on its website.SUIPrice action can be explosive.
In a recent announcement, Upbit has been upgraded to version 4.0. supporting DeepBookDEEPStarting Tuesday, the platform will allow trading via the Sui Network.
DeepBook is an open source project that is designed to be a central limit order (CLOB) decentralized system. This is the method used by exchanges for facilitating buying and selling among traders.
Says Project,
DeepBook, which is built to be a permissionless central order book with an array of mechanisms integrated into it, works as a neutral trade floor that enables DeFi (decentralized financing) on Sui. DeepBook’s liquidity is used by protocols like Cetus, Aftermath Kriya, FlowX, and Hop Aggregator. This creates vibrant markets for DeFi. DeepBook features are very appealing to protocols.
Aftermath said that it’s combination of faster transaction speeds and shorter processing times allows for a trading environment on the chain which rivals centralized exchanges both in terms of user experience and liquidity.”
The maximum number of DeepBook tokens is ten billion. 10% are reserved for the DeepBook Tokens. earmarked About 31% for an initial airdrop is intended for early supporters and core contributors. The remaining 59% will be used for community grants, programs, and initiatives.
DEEP has exploded since Upbit’s announcement, from its low Monday of $0.0842 to the high Tuesday of $0.166. This is a gain of more than 97%.
DEEP, which is currently trading at $0.118 per share as of the time this article was written, is up 30.2% in one day.
DEEP, with a total market capitalization of $295.1 million dollars is the 204th biggest crypto project.
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