Key Points

Upbit added the DEEP/KRW trading pair after launching the BTC and USDT pairs on April 16.
DEEP price spiked by over 50% following the announcement.
Binance will list futures trading for DEEP later.

The biggest crypto exchange in South Korea, Upbit, announced the listing of DeepBook (DEEP)/KRW pair today, triggering a significant surge in the digital asset’s price.

Earlier, Binance announced the launch of futures trading for DEEP.

DeepBook (DEEP) is a decentralized central limit order book (CLOB) built on Sui. The project leverages Sui’s parallel execution and low transaction fees to bring a performance, low-latency exchange on chain, according to the team behind the project.

All order routing, matching, and settling occur on-chain, promising to offer a trading venue that leverages the benefits of programability, interoperability, and composability.

Upbit’s DEEP/KRW Listing Details

Earlier today, Upbit revealed its plans to list the DEEP/KRW trading pair today, April 22, at 14:30, South Korean time.

Previously, on April 16, the crypto exchange announced the launch of DEEP, supporting the BTC and USDT markets.

Today’s announcement triggered a significant price spike for the digital asset.

DEEP Price Trajectory

Ahead of Upbit’s announcement, DEEP was trading at $0.09, with a market cap of over $282 million.

After the crypto exchange revealed its plans to list the DEEP/KRW trading pair, the digital asset recorded a price spike of over 50%, reaching a price of over $0.17, and a market cap above $546 million in a short period.

DEEP’s price spiked by approximately 50% before cooling down at current levels.

At the moment of writing this article, DEEP is trading above $0.13, following an earlier drop to $0.12 levels, with a market cap of over $400 million.