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

Blockchain

Explainers

Altcoins

Celestia (TIA) is a modular blockchain platform built with Cosmos SDK that facilitates customized blockchain building.

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The end of October marked perhaps one of the most pivotal events in the blockchain industry — the arrival of the modular blockchain concept. Celestia, the first truly modular blockchain platform, was launched on Oct 31, 2023, having generated massive publicity thanks to its genesis 

Celestia blockchain allows developers to create their own highly customizable decentralized networks within the broader platform by decoupling the execution and 

 layers. Besides the innovative modularity concept, Celestia gained significant buzz online by distributing its native coin, TIA, to 580,000 users at the time of its mainnet launch.

Read on to find out more about Celestia and how its modular blockchain technology can potentially revolutionize the entire blockchain landscape.

 (TIA) is a blockchain platform built with 

 SDK. It facilitates customized blockchain building, thanks to its modular design that keeps the network’s execution layer separate from its core consensus and data availability layers.

 This allows developers to easily create or port in customized networks and apps that use their own transaction execution mechanisms. Platforms with diverse execution engines can easily be integrated into Celestia in order to utilize its consensus mechanism and security features, while retaining their engines’ properties.

The Celestia project was initially founded in 2019 under the name LazyLedger. Perhaps recognizing the less-than-perfect initial brand name — hardly anyone would be excited about a "lazy" platform — the project rebranded to Celestia in June 2021. With this rebranding, Celestia aims to become a universal consensus network that’s as expansive and boundless as its name.

Celestia was developed by Celestia Labs, and is also supported by the Celestia Foundation.

Blockchain developers can program their solutions and apps using their preferred execution engines. They can then port them to Celestia to access the basic consensus mechanism and data availability checking — processes that are critical to blockchains and decentralized apps (

). This modularity lets developers use programming languages and execution environments of their choice.

On the underlying consensus layer, Celestia uses the proof of stake (

) block validation method for transaction ordering. Initially, the block validation process will be carried out by 100 nodes. The platform also supports staking delegation from one node to another. Meanwhile, the interconnected data availability layer distributes and stores valid data across the network. The data availability layer contains two main features: data availability sampling (DAS) and Namespaced Merkle Trees (NMTs), which will be discussed in the next section.

Two types of nodes work to secure the Celestia blockchain: data availability nodes, and consensus or validator nodes. The data availability nodes are further split into three types: light node, full node and bridge node. Light nodes help conduct data availability sampling on the data availability layer, while full nodes store all of the data and submit fraud proofs to the light nodes. Bridge nodes act to connect Celestia's data availability layer and consensus layer.

Celestia’s modular design also makes it a great environment in which to utilize 

. The pluggable modularity feature of the Celestia platform makes it possible to launch optimistic, zero-knowledge (ZK) and sovereign rollup solutions. Besides rollups, developers can also choose to build custom chains using smart contracts on Celestia.

The data availability layer helps enhance the blockchain's security by utilizing light nodes to check that transactional data is public and valid. As such, the concept is distinct from data storage, which supports the containment and retrieval of historical transaction data.

Celestia’s modular data availability network uses a unique data availability sampling (DAS) technology to ensure the network’s data integrity. Thanks to DAS, Celestia's light nodes need only a small subset of the overall transaction data to verify the overall validity of 

 posted to the network. This means that anyone can easily run a light node on Celestia as long as they have a working internet connection, because very little computational power is needed for data verification. This promotes effective scaling of the layer, because as the number of light nodes increases, more data can be downloaded for verification.

Another unique feature of Celestia’s data availability layer is Namespaced Merkle Trees (NMTs). 

 can be thought of as indexes or tables of content for blockchain data that are used to ensure data validity. Unlike standard Merkle trees, Celestia’s NMTs reserve a separate namespace (partition) for each individual app on the platform. Thanks to the NMT model, each app on Celestia needs to download only its own data, and can ignore the data of other apps. This further improves the efficiency of data validity checking on Celestia.

Celestia’s modular design allows rollup protocols to operate independently from the shared consensus and data availability layers, while allowing complete autonomy at the execution level. Such autonomously operating rollups are called “sovereign.” This is different from a standard blockchain, for example 

 (ETH), whose rollups are dependent on the smart contracts of the mainnet, which then acts as a consensus and data availability layer for the rollups.

On Celestia, sovereign rollups can post their blocks directly on the chain as raw data, instead of relying on smart contracts. Instead of blocks being computed on the Celestia consensus and data availability layers, sovereign rollups execute their own computation. In essence, each Celestia sovereign rollup is similar to a Layer 1 independent network.

While Celestia isn’t exclusively an environment for rollups, its architecture is geared primarily toward supporting rollup platforms, and it’s expected that rollups of various kinds will be the main network types on Celestia.

Modular Blockchains vs. Monolithic Blockchains

Many of Celestia’s advantages stem from its innovative modular design. A typical blockchain — such as Ethereum, 

 (SOL) — has a monolithic, rather than modular, structure. In a monolithic blockchain, all of the key layers (execution, consensus and data availability) are tightly integrated and highly dependent on each other. In other words, everything is stacked under the same hood.

Modular blockchains separate the execution layer from the other two lower layers. As a result, such chains offer several features that can be difficult — and sometimes downright impossible — to implement on traditional, monolithic platforms. 

The key benefits of modular blockchains such as Celestia include the following.

. Thanks to the autonomous execution layer, a wide variety of networks or DApps with their own distinct execution engines can be easily ported into and out of a modular platform.

Running network nodes on modular chains requires lighter hardware specifications than monolithic chain nodes' requirements.

Sovereign rollups allow for more flexibility in DApp creation because they function like Layer 1 blockchains on which developers can create and run their own consensus and execution layers.

Since apps such as rollups operate independently of each other on the execution layer, scaling an individual DApp becomes easy. Other DApps on the network won’t be negatively affected when a particular app is rapidly scaled up.

The shared security provided by a modular chain doesn’t require bootstrapping a new set of validator nodes every time a protocol such as a rollup is added to the chain. The same set of validators ensures consensus and security for all of the networks, apps and protocols linked to the modular platform.

TIA is Celestia’s native cryptocurrency. The token can be used by rollup developers to pay for access to the underlying data availability layer. It can also be used for paying gas fees on the network. Other vital functions of the TIA token include staking and governance. Notably, unlike some blockchains, staking is separate from governance in Celestia. In order to participate in governance, you simply have to be a TIA holder. You can stake TIA to be a validator or delegator and earn rewards for securing the network.

TIA’s initially allocated total supply is 1 billion, of which around 141 million are currently in circulation. TIA isn’t a supply-capped token. It has an annual inflation rate that starts at 8% in the first year, but decreases by 10% each succeeding year until it reaches 1.5%.

The initial supply of 1 billion has been distributed as follows:

As of Nov 14, 2023, the TIA token is trading at $5.32, which is 8.76% lower than its all-time high of $5.90 achieved on Nov 13, 2023, and over 150% higher than its all-time low of $2.08 on Oct 31, 2023 – the day of the crypto’s launch.

TIA’s long-term price outlook is largely bullish.DigitalCoinPrice 

 the token will trade at $19.18 by 2025 and $56.38 by 2030. CoinCodex is a bit more reserved in its estimates, but still 

 to climb as high as $11.59 by 2025 and $13.01 by 2030.

Despite making its first steps in the crypto market, TIA is already shaping up as a potentially good investment asset. The key factors in favor of the coin are as follows:

Celestia’s innovative modular design may lead to a strong inflow of new protocols, primarily rollups, to the platform. To make rollup developers' work easier, Celestia even offers a modular rollup development framework called 

The autonomous execution layer could also attract other DApps and networks, in addition to rollups. These platforms will certainly appreciate the benefit of retaining their own execution engine properties while being able to utilize Celestia’s consensus and security mechanisms.

. In order to execute your trade, you’ll first need to deposit USDT into your Spot account or Unified Trading Account. The Bybit 

 is an all-in-one flexible account that allows Bybit users to consolidate all of their Bybit Spot and derivative assets.

A USDT Perpetual contract on Bybit allows traders to open 

, with no expiration dates. The default margin mode is Cross Margin with 10x leverage, but you can change your margin mode and leverage multiplier at any time — even during an open position — as long as you have enough balance. The position mode is automatically set to one-way, which only allows for either a short or long position, but you can also opt for a hedge mode, whereby you can hold both positions for one contract.

Traditional monolithic designs have long been the default model for blockchain architectures. With the arrival of Celestia, we can now expect a tectonic shift in the way blockchains and rollups are structured and operate. Launched just two weeks ago, Celestia is the first platform that offers blockchain developers complete flexibility on the execution layer.

Building and deploying rollups has just become much easier and more efficient — and a new revolution in blockchain technology is underway.

Celestia (TIA): Modular Flexibility for a Collaborative Blockchain Ecosystem

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards