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 Learn

Altcoins

Explainers

In this article, we explore why VCs are so heavily invested in Aptos, the features of the Aptos blockchain, and whether you should make an investment in it.

Imagine a world where the blockchain industry is disrupted by a Layer 1 technology that promises unparalleled scalability, security, and usability. That’s where 

 - a groundbreaking project that emerged from Meta’s abandoned Diem initiative, aiming to revolutionize the landscape of decentralized applications and finance. Get ready to unravel the mystery of “what is Aptos” and discover how it can transform the blockchain industry.

Aptos is a Layer 1 blockchain born from Meta's Diem, aiming to enhance decentralized applications with scalability, security, and usability. APT, the ecosystem's native token, is vital for transaction fees, governance, and rewards. Innovations include the Move programming language and Byzantine Fault Tolerance consensus. Aptos's mainnet launch was on October 17, 2022, positioning it as a strong contender in DeFi. Partnerships with Google Cloud and MoonPay support its mission, while the Aptos Labs team boasts extensive blockchain experience. Competing with Solana and Ethereum, Aptos offers faster transactions and lower fees. Despite venture capital skepticism, it plans growth through projects like Aptos Village and technology merging AI with blockchain. Get involved by purchasing APT on exchanges, participating in DApps, and staking on official channels.

The Aptos project is led by former Diem developers who have channeled their vast experience and expertise into creating a truly unique blockchain solution. With the launch of its aptos mainnet, dubbed “Aptos Autumn,” on October 17, 2022, the project has already garnered attention for its innovative features such as the Move programming language, parallel execution engine, and Byzantine Fault Tolerance (BFT) consensus mechanism for network stability.

Despite the initial skepticism from the crypto community due to its centralized nature and heavy venture capital backing, Aptos has continued to push forward, emphasizing tangible results and strategic partnerships with leading companies such as Google Cloud and MoonPay. In doing so, it has made significant strides in demonstrating its potential to reshape the blockchain landscape, becoming a key player in the aptos crypto space and ready to jump crypto hurdles.

Aptos Labs leads the development of Aptos, which is led by co-founders Mo Shaikh and Avery Ching. Both have a Meta employee background. Their combined experience and expertise have been instrumental in shaping the project’s vision and driving its growth. Under their leadership, Aptos Labs has successfully secured over $350 million in funding from top investors in the crypto space, including Andreessen Horowitz, FTX Ventures, and Coinbase Ventures.

The team behind Aptos is composed of highly experienced individuals, including:

Many of them have senior-level experience in the blockchain sector. Their collective knowledge and skill set have contributed to the development of Aptos’ unique features and positioned it as a strong contender in the Layer 1 blockchain market.

Aptos’ growth and success have also been bolstered by strategic partnerships with major industry players. Notably, a collaboration with Google Cloud has enabled Aptos to leverage the tech giant’s infrastructure for its ecosystem and run a validator on its platform. Additionally, a partnership with MoonPay has facilitated access to the web3 space through the integration of MoonPay’s fiat on-ramp into Aptos Labs’ wallet, Petra.

Aptos aims to offer a scalable, reliable, and upgradeable network for web3 and decentralized finance access, addressing the current limitations of existing blockchain platforms. Its vision revolves around creating an ecosystem that fosters innovation and collaboration, empowering developers and users alike to build the next generation of decentralized applications.

To realize this vision, Aptos uses advanced technologies and infrastructure, including:

With these unique features at its core, Aptos aims to revolutionize the blockchain industry by offering a robust and versatile platform for building the future of decentralized finance and web3 applications.

At the heart of Aptos’ innovative approach is the Move programming language, a flexible and secure language that enables developers to create fast, scalable, and secure systems. By leveraging the power of Move, Aptos aims to deliver a blockchain solution that can handle the demands of modern decentralized applications and finance, making it an aptos apt choice for developers.

Another standout feature of Aptos is its Block-STM technology, an engine designed to efficiently manage smart contracts through parallel transaction execution. This technology allows Aptos to process multiple transactions simultaneously, further enhancing its scalability and performance. A collaborative scheduler is used on the Aptos blockchain. This allows forspecific transactions to receive priority validation, making the process more efficient..

Lastly, Aptos’ Byzantine Fault Tolerance (BFT) consensus mechanism, which is an alternative to proof of stake, guarantees network stability and security. This consensus mechanism is crucial for maintaining the integrity of the Aptos blockchain, preventing malicious actors from disrupting the network and ensuring that transactions are processed reliably and securely.

By providing a robust platform for developers and users to build and interact with innovative applications, Aptos aims to foster a vibrant and collaborative space for growth in the blockchain industry.

Aptos supports a wide range of DApps, including decentralized exchanges, NFT marketplaces, and DeFi platforms. NFTs and marketplaces, DeFi, launchpads, wallets, and infrastructure tools are some of the most popular projects on Aptos. These projects have great potential to thrive in the future. These applications showcase the versatility and potential of Aptos as a platform for building the future of decentralized finance and web3 applications.

Additionally, the Aptos ecosystem offers various opportunities for users to get involved, such as the Aptos Foundation Grant program, which provides funding for developers to advance the ecosystem. By fostering an environment that encourages innovation and collaboration, Aptos is well-positioned to lead the charge in transforming the blockchain landscape.

APT, the native token of the Aptos blockchain, is used for transaction fees, governance voting, and rewards for validators and stakers. With a current market cap of over $600 million, APT, also known as the aptos coin, plays a vital role in the Aptos ecosystem and serves as the backbone of its financial infrastructure, including the circulation of aptos tokens.

APT is a utility token with the following purposes:

To acquire APT tokens, users can purchase them on various exchanges such as:

Once acquired, users can store their APT tokens securely in a non-custodial wallet such as Atomic Wallet, which allows them to maintain control of their private keys.

In the competitive domain of Layer 1 blockchain solutions, Aptos distinguishes itself with its potential to offer faster transaction speeds, lower fees, and improved security features when compared to rivals like Solana, 

For instance, Aptos currently boasts a transaction speed of 9 TPS, which is expected to increase as the project matures. This is significantly faster than Ethereum’s transaction speed and comparable to Solana’s high throughput capabilities. Additionally, Aptos’ parallel execution engine enables it to process multiple transactions simultaneously, further setting it apart from its competitors.

While Aptos has promising features and strong support, it still faces several challenges in its journey to become a leading Layer 1 blockchain solution. One key challenge is achieving its target transaction throughput of more than 100,000 transactions per second (TPS), which will require continued development and optimization of its parallel transaction execution engine and Move programming language.

Aptos also faces skepticism due to its heavy venture capital backing and the high token supply controlled by early investors. In response to these concerns, the project has focused on delivering tangible results and forming strategic partnerships with renowned companies, such as its collaboration with Google Cloud. Moreover, Aptos has implemented token locking mechanisms to prevent early investors and project team members from liquidating their holdings simultaneously, ensuring a fair and efficient blockchain ecosystem.

Regarding future developments, Aptos plans to expand its ecosystem ambitiously, attract more nodes to join the network, and launch new offerings that merge AI and blockchain technology. The Aptos Village Redevelopment Project, for example, envisions the construction of thousands of homes, mixed-use buildings, and the creation of a vibrant community centered around the Aptos blockchain.

As Aptos progresses and overcomes its challenges, the project shows immense potential to transform the blockchain industry and becoming a leading platform for decentralized applications and finance. With aptos blockchain work gaining momentum, the future looks promising, especially with the introduction of aptos genesis and the aptos incentivized testnet.

If you’re keen on getting involved with Aptos, multiple avenues exist to interact with the innovative blockchain project. One straightforward method is to purchase APT tokens on various exchanges such as 

. Once you have acquired APT tokens, you can participate in the Aptos ecosystem through DApps and staking, helping to support the network and potentially earning rewards in the process.

Participating in the Aptos ecosystem is as simple as:

To stay informed about Aptos updates and announcements, you can follow the official Aptos Telegram channel (

) and the Aptos Network YouTube channel (

). By engaging with the Aptos community and staying up-to-date on the latest developments, you can play an active role in shaping the future of this groundbreaking blockchain project.

In conclusion, Aptos represents a transformative force in the blockchain industry, with its innovative approach to scalability, security, and usability for decentralized applications and finance. While the project faces challenges in achieving its ambitious goals, its strong backing, unique features, and strategic partnerships hold great promise for its future success. As Aptos continues to evolve and expand its ecosystem, it stands as a testament to the potential of blockchain technology to revolutionize the digital landscape and drive the adoption of decentralized applications and finance worldwide. #Bybit #CryptoArk

Overall, Aptos crypto appears to be a safe investment with above average technical indicators and relatively low volatility. With a Neutral Bullish sentiment and the Fear & Greed index displaying a score of 70, Aptos is looking like a good pick.

Aptos is a Layer 1 blockchain that uses the Proof-of-Stake consensus mechanism, putting it in the same lineup as other well-known blockchains like Bitcoin, 

. This makes Apt a reliable and secure option for crypto users.

Aptos has numerous advantages over Solana, including scalability, security, and energy-efficiency. For those seeking high reward potential, Aptos may be the better option.

Aptos is capable of handling up to 160,000 transactions per second through its Block-STM technology, which allows for parallel execution of transactions, whereas Ethereum can only process 45 transactions per second. Aptos' accounts are homogeneous, meaning they can store both smart contracts and data distributed across all accounts, while in Ethereum the associated data of a contract is broken into pieces stored in its owner's account. Additionally, Ethereum operates on one CPU core while Aptos operates on 16.

How does Aptos address challenges related to heavy venture capital backing and high token supply controlled by early investors?

Aptos has implemented token locking mechanisms and is delivering tangible results and forming strategic partnerships to address the challenges related to heavy venture capital backing and high token supply controlled by early investors.

Unlocking the Mystery: What is Aptos and How Can it Transform the Blockchain Industry?

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards