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

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Bitcoin

Crypto

The BlackRock Bitcoin ETF gives investors direct exposure and claim to actual Bitcoin, instead of Bitcoin derivatives. Learn more about it here.

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In 2017, BlackRock CEO Larry Fink called Bitcoin an “index of money laundering.” Fast forward to today and the narrative has dramatically evolved. The recent appearance of BlackRock's Bitcoin spot ETF (ticker name: IBTC) on the Depository Trust & Clearing Corporation (

) website has created significant ripples in the financial world. As a result, the buzz around Bitcoin's price surge can be attributed to BlackRock's progressive stance on Bitcoin. Such a move by a colossal asset manager like BlackRock signals bullish sentiment around Bitcoin, and is a testament to the growing mainstream acceptance of cryptocurrencies.

Is this groundbreaking move toward bridging traditional finance and crypto beneficial for crypto, or detrimental? In this article, we’ll delve into the prospective IBTC, exploring its potential impact on the crypto market and how it differs from other Bitcoin ETFs.

 that track the price of Bitcoin and are available for trade on traditional exchanges. They’re typically seen as alternatives for those afraid to dabble in cryptocurrencies, since they reduce the need for investors to deal with storage and security issues that arise with Bitcoin ownership. If launched, IBTC by BlackRock would provide a more direct and secure way for investors to gain exposure to Bitcoin.

Despite previously making headlines with its application for a Bitcoin ETF and signaling its entrance into the world of digital assets, BlackRock has always been a force to reckon with in the world of traditional finance. When it comes to asset management companies, BlackRock is one of the world's largest, thanks to its trillions of dollars in assets under management (AUM). With the potential launch of IBTC, BlackRock could further solidify its position as a pivotal player in cryptocurrency investments.

Founded in 1988, the company provides a range of services and products to fund investors, pension funds, governments, corporations and financial institutions around the world. With its massive size and presence in traditional finance, BlackRock has an opportunity to become one of the most influential players in cryptocurrency investing with this Bitcoin ETF.

What Is the BlackRock Bitcoin ETF (IBTC)?

Like its competition, the BlackRock Bitcoin ETF (IBTC) aims to track the price of the coveted cryptocurrency. However, what makes BlackRock's Bitcoin ETF special is that it's a spot ETF. This means investors purchasing the BlackRock Bitcoin ETF will finally have direct exposure and claim to actual Bitcoin, instead of Bitcoin derivatives, such as futures or swaps.

Before diving into specifics, it’s key to understand how spot ETFs work. In order for a spot ETF to function, it must physically own and be backed by its underlying asset. In the case of a Bitcoin spot ETF, this means the institution offering Bitcoin must own the equivalent amount of Bitcoin and keep it in reserve to represent each share of publicly traded BlackRock Bitcoin ETF.

Recently, the crypto community was abuzz when the 

 on the DTCC website. This listing stirred excitement and speculation among investors about the imminent approval and launch of the spot ETF. However, it's essential to note that the ETF has not yet been officially launched. The listing of IBTC on the DTCC website served as a notable signal, sparking intense market speculation about its imminent approval.

How the BlackRock Bitcoin Spot ETF Will Work

In establishing its Bitcoin spot ETF, BlackRock will first set up custodian accounts with banks and other financial institutions that will hold the underlying Bitcoin for investors. These custodians will be responsible for managing, storing and safeguarding the assets of the fund on behalf of its investors. 

In this way, BlackRock will give investors access to Bitcoin without their having to buy or store the cryptocurrency themselves. Additionally, it will provide a much more liquid marketplace, since investors won’t need to worry about buying and selling large amounts of Bitcoin at a time.

While these might seem like small catalysts in the grand scheme of things, they’ll have huge ramifications for crypto in the institutional space, more of which we’ll cover in our next section.

Why Is Everyone Excited Over BlackRock’s Bitcoin ETF?

 in crypto, you’re probably wondering why investors are getting their hopes up when it comes to 

. After all, Bitcoin ETFs such as ProShares Bitcoin Strategy ETF (

) already exist, so there seems to be no reason to get excited about another Bitcoin ETF — right?

This is where the idea of mainstream adoption and bulk buying from institutions comes into play. 

The potential launch of IBTC isn’t just the appearance of another ETF on the market. Rather, it signifies mainstream adoption and potential institutional bulk buying. BlackRock must accumulate Bitcoin for its IBTC reserves, which could trigger a surge in BTC buying volume, further driving up the price of Bitcoin. 

In fact, Bitcoin’s price has already increased significantly, 

 on Oct 24, 2023. Its price has been riding a wave of optimism, hitting its highest value since May 2022. This surge is attributed to the growing interest and acceptance of Bitcoin ETFs, with BlackRock's IBTC being a significant contributor. The potential launch of such ETFs has bolstered confidence among investors, leading to a more bullish outlook for the cryptocurrency. 

However, in a surprising turn of events, the ticker for BlackRock's IBTC was momentarily removed from the DTCC website the morning of Oct 25, 2023, causing a 

 led to speculation and concern among investors, although shortly afterward the ticker reappeared on the DTCC site, confirming IBTC’s presence and putting to rest any uncertainties. The exact reasons for this brief interlude remain unclear, but the swift rectification indicates the robustness of the systems in place and the commitment to transparency. 

As ETF approval is imminent, it may also cause speculators to jump on the bandwagon and buy in, due to the fear of missing out (

) on unrealized crypto gains. This two-pronged buying frenzy will likely cause yet another BTC price surge, with many foreseeing Bitcoin’s price 

BlackRock has had an impressive and extensive record of getting things across the legal line. With more than 500 ETF approvals and a history of meeting market demand for its products, the company has demonstrated a remarkable ability to navigate the regulatory landscape when it comes to getting its funds to market. This reputation alone is a huge reason why there’s been a recent rally in Bitcoin prices, as speculators are even more bullish on the launch of similar Bitcoin spot ETFs following BlackRock prospective IBTC launch.

BlackRock's Bitcoin ETF is one of the first crypto spot funds to appear on the DTCC website, which means it could also be one of the first few to be launched on the market. This makes it unlike the rest of the market, which offers Bitcoin futures ETFs that actively track the prices of Bitcoin futures contracts, rather than the actual price of Bitcoin itself. 

The ramifications of this milestone could be enormous since institutions will have much more accessible exposure to Bitcoin without having to purchase or manage the digital asset itself. This in turn will result in a new wave of investments into the crypto space, ranging from institutional investors attempting to build up their Bitcoin reserves to FOMO retail buyers who may not have the means or knowledge to buy and manage digital assets on their own.

Since the ETF filing announcement on Jun 16, 2023, Bitcoin has seen an explosive rally from $25,000 to more than $30,000. Now, with the prospective launch of IBTC, Bitcoin has seen yet another surge over the past week from $26,000 to $35,000. The unique proposition of IBTC as a crypto spot fund, if approved, is monumental as it would offer institutions a streamlined Bitcoin exposure route, ushering in a new wave of crypto investments. Given Bitcoin’s recent high-volume price movement, its price will likely exhibit exhaustion and experience some form of price correction in the short term. We foresee BTC retesting the $34,000 price zone, as it was a former 

 that BTC easily broke through that now acts as an area of demand for BTC buyers. 

BlackRock’s Bitcoin Spot ETF vs. Bitcoin Futures ETFs

Ownership is a major point when comparing a 

. As the institution offering the spot ETF will have to own the Bitcoin in its reserves, it can track the actual price of Bitcoin directly, rather than the price of a futures contract that’s dependent on the buying and selling of speculators. Therefore, rather than relying on contracts that have been agreed upon at some point in the future to estimate the value of Bitcoin, a spot ETF uses the current market price and reflects more of what’s currently happening within the crypto space.

Instead of viewing pricing based on Bitcoin futures contracts as a downside, Bitcoin futures ETF buyers have a different perspective. Since Bitcoin futures ETFs are tied to contracts with predetermined expiration dates and fixed prices, they can more conservatively provide stability for investors who don’t want to take on too much risk due to Bitcoin’s volatility.

Will BlackRock Bitcoin ETF Be a Good Investment?

The BlackRock Bitcoin spot ETF's main targets seem to be institutional investors bound by regulations, as well as retail investors who aren’t experienced in buying crypto. Therefore, crypto-savvy investors and traders with investing in mind would be better off buying actual Bitcoin because of possible tracking errors, management expense fees and worse spread that may arise due to a lack of liquidity. 

However, if there's a sudden trading opportunity that presents itself, then there's definitely no harm in buying and selling some of BlackRock’s Bitcoin ETF shares. As always, 

 before choosing to invest in any cryptocurrencies, including the BlackRock Bitcoin ETF, IBTC. 

The journey to bringing a Bitcoin spot ETF to market has been a long one, but its success could pave the way for future digital asset products now that a heavyweight institution like BlackRock has entered the fray. While it makes more sense for retail Bitcoin investors to continue to 

 into their preferred crypto asset because of management expense fees and tracking errors, BlackRock's entry with IBTC sends a strong message about the growing institutional interest in crypto — and indicates that mainstream media proclamations of the death of the digital asset scene are greatly exaggerated. 

From this perspective, the BlackRock Bitcoin ETF is certainly bullish for the crypto industry. By assisting in the creation of a product such as an ETF, regulatory bodies will be able to establish standard procedures for investing in cryptocurrencies while also providing added security for investors’ assets. This could help to legitimize the cryptocurrency industry and give it greater credibility with potential adopters.

BlackRock Bitcoin ETF: Exploring What It Is and Its Impact on Bitcoin Prices

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