Deep Dive
1. Core Liquidity Layer Upgrade (9 January 2026)
Overview:
DeepBook has become Sui’s official liquidity backbone, processing $15M+ daily volume with 390ms settlement times. Its 2026 roadmap introduces native margin trading and gasless transactions for stakers, aiming to attract institutional capital by mimicking centralized exchange efficiency without custodial risk.
What this means:
This upgrade is bullish for DEEP as it cements its role in Sui’s DeFi infrastructure, potentially increasing protocol fees and staking demand. However, adoption hinges on Sui’s broader ecosystem growth (Kyle Chassé).
2. Grayscale Trust Launch (12 August 2025)
Overview:
Grayscale launched the DeepBook Trust, allowing accredited investors to gain exposure to DEEP. The move followed Sui’s 44% price rally after Grayscale’s earlier Sui Trust debut, signaling institutional validation of DeepBook’s infrastructure role.
What this means:
This is neutral-to-bullish. While it enhances DEEP’s credibility, the trust’s limited secondary-market liquidity and DEEP’s -86% drop from its 2025 high ($0.34) highlight volatility risks (CoinDesk).
3. Bitso Exchange Listing (11 December 2025)
Overview:
Mexican exchange Bitso added DEEP under its “Limited Operations” tier, enabling buy/sell transactions. This followed DeepBook’s integration into 20+ Sui apps and Turbos Finance’s DEEP-USDC liquidity pool launch.
What this means:
Bullish for retail accessibility, but DEEP’s 24h volume ($9.4M as of December 2025) remains modest compared to its $583M market cap, suggesting thin liquidity (Bitso).
Conclusion
DeepBook’s trajectory hinges on balancing institutional adoption (via Grayscale) with technical upgrades to onboard high-frequency traders. While recent developments validate its infrastructure role, DEEP’s price remains volatile (-51% over 90 days). Will margin trading and gasless transactions in 2026 catalyze sustained demand, or will competition from hybrid DEX/CLOB models limit upside?