Sui Name Service (SuiNS) enables blockchain users to register human-readable web3 names, ensuring secure, seamless transactions and a user-friendly on-chain identity.

Some people have no trouble remembering new cell phone numbers, and there are even a select few among us who wouldn't find it hard to memorize a 16-digit bank card number. However, very few people would choose to tackle the job of reliably recalling an alphanumeric blockchain address. Network addresses on 

 (ETH) are 42 characters long, while on the 

 (SUI) blockchain they span 66. These complex and length addresses are virtually impossible for most users to remember, and are among the least user-friendly features of 

 networks. Not only are long blockchain addresses distinctly user-unfriendly, but they also lead to many instances of wrongly executed transactions due to incorrectly input characters. 

Sui Name Service (NS), a solution on the Sui blockchain, has been specifically designed to tackle this problem. The service allows users to create human-readable and easy-to-remember web3 names linked to their underlying blockchain addresses. Using SuiNS, you can transact within web3 using your preferred username and, optionally, an avatar, rather than a long, complex blockchain address.

 (NS), or simply SuiNS, is a decentralized naming service that allows you to create and use a human-readable, user-friendly web3 handle to interact with the blockchain environment, instead of using a typical long and complicated network address. 

At the underlying level, your SuiNS name is linked to your blockchain address, but all the interaction and operations on the chain happen via your registered name.

SuiNS was first conceptualized and launched in 2022, inspired by the popular 

 (ENS). In many ways, SuiNS and ENS are similar, the obvious difference being that each one applies to its own respective blockchain environment. In May 2023, SuiNS was introduced on the Sui blockchain's newly launched mainnet. The service was developed and is supported by Mysten Labs, the development studio behind the Sui blockchain project. Since the beginning of the Sui blockchain's conceptualization, SuiNS has been among the core projects of the entire Sui ecosystem. As of late November 2024, SuiNS has managed to achieve the remarkable milestone of having registered nearly 330,000 names.

Using SuiNS, you can register your preferred username (as long as it's not been taken) for one year by paying a registration fee, currently charged in SUI coins. The name can be renewed at expiration for up to five years. All interactions with the blockchain environment through your wallet use your preferred username, rather than your blockchain address.

SuiNS names can be between 3 and 63 characters. Users can check the availability of their preferred handle and register it using the 

, where a lookup textbox is prominently displayed. Shorter names cost more than longer handles. As of the time of this writing (Nov 21, 2024), a three-character-long name costs 500 SUI ($1,785) and a four-character name will cost 100 SUI ($357), while names with five or more characters are priced at 20 SUI ($71.40).

A SuiNS name can only be registered for one year, but it can be renewed for up to four years (excluding the initial registration year). There's a 30-day grace period after the expiration of your SuiNS name, during which you may still renew it. If you don't renew during the grace period, your registered name will be up for grabs by anyone on the market. Optionally, you can buy an NFT avatar linked to your SuiNS name.

 (DApp) ecosystem on the Sui blockchain. Developers can use off-chain remote procedure calls (RPCs) to integrate the Sui service into their application environments. They can also take advantage of the native, on-chain SuiNS SDK to interact with the service.

Thanks to SuiNS, you can enjoy short, comprehensible names for your own address, as well as the addresses of the parties with whom you transact (if they also sign up for the service). No more forgettable string combinations that are hard to read and virtually impossible to remember!

However, a SuiNS name isn't just a tool of convenience. It also represents your decentralized identity on-chain. The identity is fully owned by you, the user, rather than by a centralized entity.

SuiNS minimizes the likelihood of lost assets due to sending funds to the wrong address: short, easy-to-remember names are way less prone to incorrectly executed transactions than standard blockchain addresses.

Security is also among the benefits of SuiNS. The service runs on the Sui chain, which prides itself on developing and enforcing high-grade security standards. Among these are 

, a framework that maintains a list of malicious websites and on-chain assets, thus protecting the Sui ecosystem from 

 launched by these known nefarious entities.

The SuiNS service launched its native token, NS, on Nov 14, 2024. Initially, NS is envisioned to support 

 processes on the platform, and will also be used for purchasing and trading SuiNS names. Currently, names are traded using SUI, the blockchain's native cryptocurrency. It's likely that NS will replace SUI in this capacity in the near future. The project team has also hinted that there could be additional uses for the NS token beyond governance and payment for SuiNS names. More announcements on this issue are likely to follow.

During the initial phase of the token's existence, governance will be its most prominent function. Holders of NS will be able to vote on important issues concerning the protocol's rules and future direction. One NS equals one vote, with more NS tokens giving you a greater say in the overall decision-making process. You can also increase your voting power by locking your NS tokens for from one to 12 months. For every additional month locked, you obtain 10% voting power. To encourage voting, 5% of the NS token's supply has been allocated for governance rewards. NS is a 

 token, with a total and maximum supply set at 500 million. The token's supply distribution shares are per the chart below.

NS is available on Bybit's Spot market as a swap pair with USDT (

). You can also take advantage of Bybit's campaign dedicated to the token to grab a share of the 

. Three campaign events for eligible users run through Nov 27, 2024, 8AM UTC:

Thanks to Sui Name Service, interacting on-chain has become easier and more user-friendly. However, easy-to-remember names aren't the only benefit: advantages also include lower likelihood of lost funds, better security and a completely decentralized, user-owned identity on-chain. So far, around 330,000 names have been registered, and with the impressive suite of benefits, expect this number to grow as we move with SuiNS into 2025.

Intermediate

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Sui Name Service (NS): Your On-Chain Identity Made Simple

The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. 

November 2024 has marked a significant milestone for Bitcoin, with its price soaring to $94,105. This unprecedented growth has been driven by global events and heightened social media discussions, with predictions of six-figure valuations. Historically, peaks in social media chatter often precede market corrections, signaling traders to exercise caution. Currently, while whale accumulation remains strong — with wallets holding over 10 Bitcoin adding 53,006 more BTC in just one month — retail traders remain surprisingly cautious. This wary sentiment contrasts sharply with the bullish behavior usually seen during price surges, suggesting a potential correction.

The cryptocurrency market is witnessing an influx of speculative trading, particularly with meme coins like DOGE, PEPE and BONK experiencing extraordinary gains. Despite their volatility, these tokens reflect a broader appetite for high-risk investments. Notably, whale investors holding 1M–100M DOGE are accumulating, while smaller holders are selling, creating conditions for potential breakouts. However, if new capital stops flowing, these speculative assets could face significant downturns. Additionally, while discussions around Bitcoin reaching $100K are increasing, they haven’t reached the levels seen earlier this year, indicating that fear of missing out (FOMO) may not yet be fully realized.

Institutional Interest and Ethereum's Resurgence

Demand for Bitcoin ETFs has surged, with daily trading volumes hitting a record $8.21 billion, signaling increased institutional interest. This activity often coincides with market peaks, but could also indicate new investments flowing into the crypto space. Meanwhile, Ethereum has also gained momentum, breaking above $3,100 for the first time in over 14 weeks. Additionally, whale accumulation is on the rise, suggesting that as Bitcoin leads the market, profits may soon be redirected into Ethereum. In contrast, Solana's price movements remain highly sentiment-driven, with funding rates indicating potential entry points for investors. Overall, altcoins are experiencing growth, particularly following the U.S. elections, which have reignited optimism in the crypto market.

Advanced

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Bitcoin's Resurgence: Analyzing Market Dynamics and Speculative Trends in November 2024

Crypto market makers play a crucial role in providing liquidity by consistently placing buy and sell orders. Learn more about how they work here.

The cryptocurrency market is notorious for its high volatility and sometimes low liquidity, making it a challenging environment for traders and investors. Executing trades can be difficult, often resulting in significant price 

Market making is a strategic approach that provides the necessary liquidity to stabilize markets, ensuring smoother trades and reducing volatility. By creating buy and sell orders around the current market price, market makers help maintain a healthy trading ecosystem. This article examines the fundamentals of market making, its benefits for traders and exchanges and the way it enhances the overall efficiency of the cryptocurrency market.

A crypto market maker is an entity or individual who primarily provides liquidity in cryptocurrency markets by continuously placing buy and sell orders for digital assets. This activity ensures efficient trading and helps maintain stable prices.

Crypto market makers play a key role in keeping markets liquid by continuously placing buy and sell orders on exchanges. Here's a closer look at how they operate.

Key Characteristics of a Crypto Market Maker

Crypto market makers provide liquidity and stabilize prices in the cryptocurrency market. The following are the key traits that enable them to operate effectively.

Market makers continually place buy and sell orders, ensuring the availability of transactions for traders. This constant availability reduces wait times for trades and minimizes the price impact of large orders, making the market more efficient and accessible for everyone.

One of the fundamental roles of market makers is that of managing the bid-ask spread. By consistently quoting competitive prices, they narrow this spread, thereby enhancing trading efficiency and reducing costs for other market participants. This spread is also their primary source of profit.

Market makers leverage advanced algorithms and HFT strategies to analyze market conditions and optimize their order placements. This technology allows them to react swiftly to price changes and maintain a balanced inventory of assets, which helps to manage risk and maximize profitability.

Due to the inherent volatility of cryptocurrency markets, effective risk management is vital for market makers. They employ various techniques, such as hedging and real-time market analysis, to minimize exposure to sudden price swings. This ensures their operations remain stable even in the face of market fluctuations.

By providing continuous liquidity and facilitating smooth trading operations, market makers enhance overall market efficiency. Their presence attracts more traders, which increases transaction volumes, boosts exchange activity and contributes to a healthier trading environment.

Given the quickly evolving nature of the cryptocurrency landscape, market makers must be adaptable, continually refining their strategies in response to new technologies, regulatory changes and shifts in market dynamics. This ensures they remain competitive and relevant.

Crypto market makers play a critical role in the cryptocurrency ecosystem by providing liquidity and stabilizing prices. Despite the integral role they play, however, their operations come with both advantages and disadvantages. 

Additional Importance of a Crypto Market Maker

Crypto market makers play a vital role in maintaining the efficiency and stability of the cryptocurrency market. Their presence on crypto exchanges ensures trading environments operate smoothly. 

Newer and smaller cryptocurrencies often struggle with liquidity. Market makers provide a market for these assets, promoting their growth and creating a more diverse and dynamic crypto ecosystem.

Through continual quoting of prices, market makers aid in fair price discovery, ensuring that cryptocurrency prices reflect actual market demand rather than extreme fluctuations. This promotes a more trustworthy and transparent trading environment that allows traders to make data-backed decisions. 

Crypto market makers are essential players in the cryptocurrency ecosystem, providing liquidity, stabilizing prices and ensuring smooth trade execution. Their use of advanced algorithms and real-time order placements encourages a more efficient, accessible and fair market. However, risks such as market manipulation, potential capital loss and lack of regulation can be problematic. Overall, the role of market makers in supporting emerging assets and maintaining market stability makes them indispensable for a healthy and growing crypto environment.

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Crypto Market Maker: Boosting Trades With Strategic Liquidity

SEC Chair Gary Gensler announced he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration.

The S&P 500 rose 0.53% as investors shifted toward cyclical stocks expected to benefit from a strengthening economy, while technology shares lagged. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 4.79%, with Bitcoin and Ether rising by  4.19% and 8.75%, respectively in the past 24 hours.

Today's top performer is XRP, which surged 24.3% following the partnership between Ripple and MCSocialVenture to boost financial resilience and access in emerging markets.

Ripple (XRP), launched in August 2012, is a blockchain technology company focused on improving international payments with its cryptocurrency, XRP. 

, focused on investing in emerging market entrepreneurs. The initiative will pilot financial resilience and humanitarian solutions built on the XRPL, aiming to advance equitable access to finance.

Check Out the Latest Prices, Charts, and Data of 

 he will resign on January 20, 2025, coinciding with President-elect Donald Trump's inauguration. Gensler, whose term runs until 2026, faced pressure from the crypto lobby due to the SEC’s strict regulatory actions against the industry, including high-profile cases against Coinbase and Binance. Gensler’s departure is seen as a victory for crypto advocates, who hope the next SEC chair will be more crypto-friendly. Trump has hinted at firing Gensler on his first day in office and is expected to appoint a chair with expertise in crypto, such as Mark Uyeda, Hester Peirce, or Chris Giancarlo.

Yesterday, BTC Spot ETF data revealed a net inflow of $396.7 million, driven by $404.5 million from non-GBTC sources, partially offset by a $7.8 million outflow from GBTC..

 for those who participated. To claim, visit 

 using code B0FKOP. Additionally, Morph Zoo Season 2 has launched on mainnet, allowing users to earn points by bridging ETH or executing transactions on Morph. The Bitget Wallet offers a 1.2x multiplier on points to maximize rewards.

Beginner

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SEC Chair Gary Gensler to Resign on Inauguration Day, Marking a Win for Crypto Lobby

Bybit Guide

Stop the juggling multiple accounts to manage your assets. Here's what you need to streamline your portfolio. 

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Until recently, you may have been juggling multiple Bybit accounts to trade Spot, Derivatives and USDC Options. The launch of the 

 (UTA) gives traders a powerful option to combine trading and cross-collateral margining under one single account. 

Designed to simplify the trading experience 

, from retail traders to professional institutional investors, the UTA supports one-click access to all Bybit core trading products — 

This all-in-one solution streamlines the trading experience, offering a range of benefits that cater to both novice and seasoned traders. Read on to explore eight compelling reasons to make the switch to Bybit's UTA.

Unified Trading Account vs. Standard Account: The Differences

The Standard Account is Bybit’s legacy account option. However, since September 2023, Bybit has begun gradually transitioning new users to the Unified Trading Account. 

The Standard Account requires traders to hold specific assets for specific trading activities. In contrast, the UTA allows traders to use various supported margin assets (as collateral), which are then converted into USD for trading. This means traders don't need the exact settlement coin for a product, enhancing capital utilization and providing more flexibility and efficiency in trading.

 between the two accounts are as follows:

: We recommend users upgrade their sub-account to UTA before converting their main account, as the function is not reversible. 

Benefits of Upgrading Simple Mode to UTA 

Aside from the operational convenience of combining all trading instruments into a single account, Unified Trading Accounts offer users several key trading benefits.

The Bybit Unified Trading Account consolidates your trading activities, eliminating the need to juggle multiple accounts. With a single account, you can seamlessly trade Spot, USDT Perpetual, USDC Perpetual and USDC Options without having to transfer funds to multiple accounts for different product transactions. This unified approach simplifies asset management, letting you focus on trading strategies rather than account logistics.

Different traders have individual risk appetites and strategies. For this reason, the Bybit Unified Trading Account offers three margin modes to cater to every trader profile.

The UTA enhances capital efficiency by allowing traders to use unrealized profits to open new positions. This means that even if a position hasn't been closed, its unrealized gains can be leveraged for new trades.

For example, let’s assume that a user holds 3,000 USDT in their wallet and has three open positions:

At this time, their available USDT balance to open new positions is as follows:

Wallet Balance (3,000 USDT) + Perp & Future Unrealized P&L (0 USDT) − Total Initial Margin (1,340 USDT) = 1,660 USDT

As the price fluctuates, there will be changes in their P&L:

Wallet Balance (3,000 USDT) + Perp & Future Unrealized P&L (2,400 USDT) − Total Initial Margin (1,340 USDT) = 4,060 USDT

Over 80 Popular Assets Available as Collateral

With support for more than 80 popular assets as collateral, the Bybit Unified Trading Account ensures that traders don't miss out on opportunities. This feature also supports collateral asset customization, ensuring that trading activities are secured without the need to sell settlement assets.

 is a unique feature exclusive to the Unified Trading Account. It's designed to enhance the security of your Perpetual contracts, and uses Options based on intelligent recommendations to shield your Perpetual contracts from potential risks.

Imagine you're trading in a highly volatile market, and are concerned about sudden price drops. Perp Protect can automatically buy Options for you based on smart algorithms, ensuring that your Perpetual contracts are safeguarded against unexpected downturns. This tool acts as an industry-first downside protection, ensuring that traders can operate with an added layer of security.

As an illustration of using Perp Protect, let’s say that you’ve encountered a trading position loss of $500. After choosing to use Perp Protect, you’d incur a cost of $60. However, the silver lining comes in the form of a compensation amounting to $543, courtesy of Perp Protect. When you factor in the cost of Perp Protect and the received compensation, you’re left with a significantly reduced total loss of just $17.

On the other hand, if you decide to navigate the markets without Perp Protect and find yourself in a similar situation with a loss of $500, that loss remains as is, without any compensation or mitigation.

The Bybit Unified Trading Account introduces an optimized way to calculate and monitor account risks, using the MMR to keep a closer eye on potential liquidation risks.

Let's say you're a trader who's always on the lookout for potential liquidation threats. With UTA, instead of constantly calculating and recalculating your risks the system uses the MMR to give you real-time insights into your liquidation risks. This means you can make informed decisions faster and with more accuracy.

For those new to the Bybit Unified Trading Account, or for users who want to test its features without any real-world risks, the UTA offers a 

 mode. This simulates a real-world trading environment, allowing users to get a feel for how the Unified Trading Account operates.

Imagine you're a newbie to the world of crypto trading. Instead of diving headfirst into the market with real funds, you can use Bybit’s Demo Trading feature, which will provide you with more than $130,000 in simulated funds. This allows you to practice and understand the nuances of trading within the UTA environment. It's like a sandbox mode that lets you learn, make mistakes and refine your strategies without any financial repercussions.

Seamless Repayment Process for Borrowed Assets

The Bybit Unified Trading Account simplifies the process of 

. With its efficient auto borrowing feature, traders can open trades without any interest (this is applicable only to USDT and USDC loans within the interest-free range). Additionally, the UTA offers flexibility in choosing which assets to use for repayment.

Suppose you've borrowed some USDT for trading, and now it's time to repay. Instead of going through a lengthy repayment process, the UTA supports interest-free auto borrowing, which means you can quickly and seamlessly repay your borrowed amount without incurring extra costs. 

Furthermore, if you have multiple assets in your account, you can choose which one to use for repayment, giving you more control over your finances.

 is quick and easy. Simply follow our step-by-step guide below.

 that the upgrade to the Bybit Unified Trading Account is 

Your account will take approximately one minute to finish upgrading. While the upgrade is underway, please avoid trading or transferring assets. 

After the upgrade is complete, you’ll be able to use your Unified Trading Account to trade Spot (including Margin), Leveraged Tokens, USDT Perpetual, USDC Perpetual and Options. You’ll also be able to use your Inverse Derivatives Account to trade Inverse Contracts. The function of the Funding Account will remain unchanged, and you’ll be able to make deposits or withdrawals via your Funding Account. 

Before you start trading, make sure you've read and understood the risk management and trading requirements. After the upgrade, you can celebrate having more efficient capital utilization, enhanced risk management, and one-click access to a wider range of trading products.

 More than just a trading account, the Bybit Unified Trading Account is a comprehensive trading solution. By consolidating multiple features and tools into one platform, Bybit gives you everything you need at your fingertips. Whether you're a seasoned trader or just starting out, the UTA offers a range of benefits that can enhance your trading experience. 

 and discover the future of crypto trading!

8 Key Benefits of Upgrading to Bybit’s Unified Trading Account

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards