South Korea’s Bithumb Provides DEEP Token With Buying and selling Incentives

• Bithumb’s DEEP itemizing boosts liquidity and opens new buying and selling alternatives.
• DEEP’s staking, governance, and price funds enhance its ecosystem utility.
• Sturdy RSI and MACD indicators counsel bullish momentum for DEEP’s value.

Cryptocurrency alternate Bithumb will listing DeepBook Protocol (DEEP), the utility token of the Sui-based liquidity layer. The token might be out there for buying and selling on the KRW market beginning at 3:00 PM on January 8, 2025.

That is vital for each the alternate and the DEEP neighborhood because the itemizing presents a brand new avenue for buying and selling and funding. Bithumb can be internet hosting an airdrop occasion to spice up buying and selling exercise.

DEEP Token Utility

The DEEP token serves a number of functions throughout the DeepBook ecosystem, a decentralized platform leveraging a Central Restrict Order Guide (CLOB). This design lets customers commerce belongings at desired costs with out sacrificing decentralization.

DEEP is primarily used for staking, governance, and fee of service charges, which provides to its utility and attraction. This new itemizing means Bithumb customers can now commerce DEEP utilizing the South Korean received (KRW) market.

Buying and selling Pointers and Airdrop Occasion

Along with the itemizing, Bithumb has set particular pointers for buying and selling DEEP. Initially, the alternate will limit shopping for orders for 5 minutes after buying and selling begins. It would additionally limit promoting orders for 5 minutes if the value adjustments by greater than 10% beneath or 100% above the usual value.

Learn additionally : Bithumb Trade Faces Korean Gained Withdrawal Delays, Customers Unfazed

These restrictions will assist guarantee a easy launch and forestall market manipulation. As well as, Bithumb will solely help deposits and withdrawals by permitted exchanges to adjust to rules such because the Journey Rule.

For buyers trying to take part within the DEEP market, there may be an airdrop occasion. Those that commerce DEEP for 2 consecutive days can obtain further tokens. This could drive liquidity and encourage person engagement. The occasion exhibits Bithumb’s dedication to constructing a vibrant buying and selling neighborhood.

DEEP Worth Efficiency and Market Exercise

As for the token’s present market efficiency, DEEP has proven notable exercise. The worth has elevated by 2.04% within the final 24 hours, presently buying and selling at $0.1656. The buying and selling quantity has surged by over 70%, indicating rising curiosity within the asset. 

Whereas the value has fluctuated between $0.160 and $0.175, it seems to be consolidating close to the important thing resistance stage of $0.170. With robust shopping for stress evident in its latest efficiency, DEEP would possibly proceed its upward momentum.

Technical Indicators and Future Outlook

When it comes to technical evaluation, DEEP exhibits some promising indicators. The Relative Energy Index (RSI) is presently at 67.01, indicating robust bullish momentum however nearing the overbought zone. Equally, the Transferring Common Convergence Divergence (MACD) exhibits an upward pattern, additional confirming the bullish sentiment.