With a 4-fold increase in one week, is DEEP the real Alpha of Sui Ecosystem?

Original author: @calilyliu
Original translation: zhouzhou, BlockBeats

Editor's note:This article is mainly about the author's confidence in Mysten Labs and its product DEEP, believing that its decentralized central limit order book has a 90% success rate and can provide strong liquidity for SUI. As the attention of the SUI ecosystem increases, DEEP's price potential is huge and it may become the first currency in the future. Current market data shows that DEEP is undervalued and the investment time is good.

The following is the original content (the original content has been reorganized for easier reading and understanding):

I have always paid attention to Mysten Labs and everything they have built. When I first heard about DEEP, I became very interested in its use cases. Knowing it is a decentralized Central Limit Order Book (CLOB) built on the @SuiNetwork tech stack, I would rate it at about 90% success. For DEEP to work as planned, it needs extremely low transaction costs, extremely low latency, extremely high throughput, and infinite scalability. There is currently no other chain in the entire crypto ecosystem that can effectively support the construction of DEEP without facing inherent failure.

This is SUI's wholesale liquidity layer, supported by institutional investors and companies that work with Mysten Labs.

In the process of interacting with DeFi in the SUI ecosystem, we have been trading with the DEEP LP liquidity pool without even realizing it (for those who haven't been paying attention to where the transactions are coming from). Our Perp decentralized exchange will also source liquidity from DEEP, similar to how Bybit Official's Perp options are routed from DEEP.

Imagine what will happen when other chains integrate Sui Move language and utilize DEEP for stable liquidity. I can't imagine how big this will be, and my mind can only hold a limited amount of hope. But is it really just hope? I really don't think so. So far, SUI has made the impossible possible, and DEEP will further raise the bar.

Get ready for DEEP, which may become the first currency in the entire SUI ecosystem.

Let's discuss the price trend of DEEP. At present, SuiNetwork's attention is rising. We have not yet received recognition from many big names such as IOHK Charles, aeyakovenko, Grayscale, awscloud, Cointelegraph, Google, etc. SUI was ranked 77 in January and has now risen to 17 or 18. This is a rise of 59 or 60 places in 10 months, and the bull market has just begun. Considering that SUI has more room to grow, imagine the future of DEEP.

The current total supply of DEEP is 10 billion, and the circulating supply is 2.5 billion. The total market value is $147 million, and the 24-hour trading volume is $75 million. In 5 days, it rose from $0.01074 to $0.05915, a 337% increase! Only a quarter of the supply is in circulation, and the market's daily trading volume is also growing, which proves the potential of this coin. The current ranking on CoinMarketCap is 2721, which is obviously undervalued.

If DEEP is compared to tezos, the 100th coin by market cap, its price should be $0.2799; compared to bonk inu, the 50th coin by market cap, its price should be $0.6539! These are pre-bull market caps, so these numbers are also underestimated. This is not financial advice, but I firmly believe DEEP can easily reach $0.80, based on its intended use alone. Once other factors are taken into account, there really is no limit.

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