The decentralized central limit order book (CLOB) built for the Sui ecosystem, DeepBook Protocol (DEEP) has seen an unprecedented price rise over the weekend as it gained 45% in 24 hours to reach $0.0834 level. The cryptocurrency whose trading volume rose by 27% to reach $124 million ended the day at $0.08407 with a 4% decline in trade volume.

As of October 21 night, the DeepBook Protocol market cap stood at $208.84 million, with a $141.23 million trading volume. Deep experienced a bullish rally where the price exponentially increased from $0.0556 as it attracted crypto traders.

DEEP formed a bullish pennant pattern which showed that the digital asset will continue in its upward movement after consolidation with a narrow price fluctuation between $0.08000 and $0.090000 resistance level. This Sui project-based digital asset was launched on October 14 and within a week it has gained 45% showing a market interest in DeepBook Protocol.

Given that the DEEP token has only a 10 billion supply, of which only 2.5 billion was released initially, it’s a significant development that it gained traction. The rest of the DeepBook Protocol tokens are likely to be released in the upcoming seven months. Earlier in March this year, over 100,000 people were given a stake of DEEP as part of the “DBClaim” NFTs. These tokens can be redeemed now that it is officially launched.

DeepBook Protocol reached its all time highest level at 9:00 UTC in Monday morning when it was trading at $0.094 with nearly $163 million trading volume. The token has 91% bullish sentiment at the end of the day