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

Explainers

Blockchain

Altcoins

Polymesh (POLYX) is a public permissioned blockchain focused on the complete lifecycle of security token management and trade.

Security tokens — cryptocurrencies that entitle their holders to part-ownership of a crypto platform – have been designed specifically for the purpose of mirroring the function of ownership shares and certificates used in traditional financial instruments. However, despite the seemingly straightforward nature of the concept, the actual implementation and effective ongoing management of security tokens on a typical blockchain is challenging.

Polymesh has emerged as a major blockchain platform that focuses directly on comprehensive security token issuance and management. The platform has opened up new and previously unavailable opportunities for crypto operators, startups and investors in areas such as 

 (RWA) tokenization and new financial instruments that reside exclusively on a blockchain.

From meeting regulatory requirements for security assets to providing robust identity and privacy management solutions, Polymesh has it all if your goal is to issue, sell or buy security tokens.

 (POLYX) is a blockchain network designed for security tokens and the comprehensive management of all aspects related to these assets, such as issuance, trading, compliance, financial confidentiality, contractual settlement and more. 

 (ETH), Polymesh later launched its own public permissioned chain, built using Substrate, a blockchain development framework within the 

Public permissioned chains combine the elements of open access, typical of public platforms like Ethereum or 

 (BTC), with custom rules that require authentication or qualification to perform certain operations. On Polymesh, any user is free to access and view network activity. However, actual participation on the platform, e.g., issuing or buying security tokens, requires identity verification.

Despite its semi-public nature and identity verification requirements, Polymesh protects user privacy. Thanks to its confidentiality-focused protocol, you can use the platform without having your identity publicly revealed, an essential issue for many parties in financial transactions.

Security tokens first rose to prominence during the wave of 

 (ICOs) in 2017–2018. They were envisioned to easily and flexibly replicate the role of traditional financial securities like stocks and bonds, or even alternative assets on blockchain platforms. However, a multitude of considerations from regulation and safety to privacy and transaction settlement have emerged. These issues highlight the inadequacies of typical blockchains in managing security assets, whether digital or from traditional markets.

, a company founded by blockchain technologists Trevor Koverko and Chris Housser, decided to launch a dedicated platform for security tokens. The platform, Polymath (POLY), first operated as a 

 (DApp) on Ethereum. However, Ethereum, just as any other major general-purpose chain, was never designed to address the complex intricacies of security token management. Realizing this, in late 2019, Polymath launched its own blockchain, Polymesh, dedicated to enabling and streamlining security token operations.

By 2022, Polymath’s gradual shift from Ethereum to its own platform had been finalized. By now, Polymesh has grown to be a leading platform that aims to enable real-world asset (RWA) tokenization as well as facilitate the launch and management of purely digital securities. As of mid-November, Polymesh is the second-largest crypto by market cap in the RWA niche.

 (NPoS) block validation model, with a number of validator 

 powering its functionality. All validators on the platform need to be licensed financial entities. Verified nominators choose validators by staking their preferred amount of POLYX on them, and earn a share of the rewards from the block validation activity. Currently, there are 46 active validator nodes on the network. Validators collate transactions into blocks and propose the blocks to the entire validator set on the platform.

The proposed block must be approved by at least two-thirds of validator nodes. If the required approval count is reached, the block is permanently written to the ledger of records. This system allows Polymesh to maintain highly efficient transaction finality times.

Polymesh’s ability to provide flexible and effective security token management services is based on five pillars — governance, identity, compliance, confidentiality and settlement. Let’s review each of these individually.

The platform’s governance model is designed to neutralize the risk of network 

. Public blockchains open to all may tolerate forks, but for Polymesh — whose focus is on serving security issuers and investors — forks of the main platform could cause difficulties in determining the rightful ownership of security tokens, potentially leading to legal and tax challenges within its ecosystem.

That’s why in addition to giving ordinary POLYX holders a way to participate in on-platform decision-making, Polymesh’s governance setup also includes the critical Governance Council, which is made up of key stakeholders on the platform and carefully reviews system improvement proposals submitted by user groups and communities.

One of the key roles of the Governance Council is to block “fork-friendly” initiatives. Besides this important measure, Polymesh also minimizes the possibility of forks thanks to its forkless update feature. Built with Polkadot’s Substrate framework, Polymesh is capable of rolling out major system upgrades without requiring a fork.

Any user of Polymesh’s services, be it a security token issuer or investor, must go through a two-step identity verification process on the platform. While blockchain purists might find this requirement preposterous, in the world of regulated securities, the verified identity of a market participant is a critical requirement.

This is another reason why public blockchains like Ethereum are poorly suited to the security token management process, and why Polymesh is the ideal environment for tokenized securities. Securities laws and regulations in just about any jurisdiction require robust identity verification procedures. So — no network node names or Reddit nicknames. You have to use your real identity documents to take advantage of Polymesh’s services.

The management of securities’ lifecycles, including issuance, sales and transfers, is complicated due to a myriad of laws and regulations. In traditional financial markets, following these regulations requires laborious manual procedures and checks. Polymesh streamlines antiquated processes involved in securities compliance via 

. Users also have the ability to pre-design custom compliance rules per the required regulations, further improving the automation and efficiency of compliance management.

Confidentiality of transactions, asset holdings and trade positions is paramount in many financial markets. Polymesh has implemented a privacy-focused protocol based on 

 (ZK) proofs that protects the identity of platform users. Although users have to go through the identity verification process to join Polymesh, their identities on its network are securely protected via this protocol. Hence, while compliance and confidentiality may seem like contrasting ideologies at first glance, Polymesh has seamlessly merged these two elements to create a platform that addresses the unique needs of security issuers and investors.

Parties to any financial transaction desire certainty of terms and a quick settlement. However, on a typical blockchain, transaction settlement might be far from instant or quick. On many platforms, transactions remain in a non-finalized state for hours (or even days), depending upon the particular blockchain. In contrast, Polymesh uses a block validation process that offers deterministic finality, which results in nearly instant transaction finality/settlement.

When at least two-thirds of validators approve a proposed block, it’s then immediately written to the ledger of records (i.e., becomes finalized). On average, a transaction block on Polymesh is finalized within six seconds. This is roughly the time it takes for a financial transaction to be settled on the platform.

POLYX is Polymesh’s native protocol token, and is used to pay transaction fees on the network and issue new security tokens. All the operations related to security tokens involve the use of POLYX tokens.

POLYX is also used for staking. Token holders can back their preferred validator on the Polymesh network with their POLYX funds and earn a share of the staking rewards generated by the validator.

Another key functionality of the token is governance. POLYX holders can vote on proposals related to future developments and changes on the platform. Proposals that get enough votes are then considered by the Polymesh Governance Council.

POLYX has a current total supply of 881.16 million tokens (as of Nov 20, 2023), all in circulation. The token doesn’t have a maximum supply limitation.

As of Nov 24, 2023, POLYX trades at $0.201, which is 59.3% lower than its all-time high of $0.4942, attained on Oct 17, 2022, and approximately 100% higher than its all-time low of $0.09985, registered on Sep 11, 2023.

Major price prediction portals expect POLYX to grow solidly over the long term.DigitalCoinPrice

 that the token will reach $0.73 in 2025 and $2.11 in 2030, whilePricePrediction

 that POLYX will trade at $0.4997 in 2025 and $4.99 in 2030.

POLYX is an asset with a promising outlook. The following factors point to solid potential returns for the token:

 (DeFi) find greater synergies, the demand for the Polymesh platform is expected to grow. The burgeoning field of RWAs — regulated assets from traditional markets tokenized on a blockchain — is one clear indicator of this growing synergy.

2. For digital securities management, Polymesh offers critical features virtually unmatched in the industry, including near instant settlement finality, transaction confidentiality and highly flexible compliance customization rules. If you need to issue and manage security tokens, it’s hard to exclude Polymesh from your consideration set.

3. The Polymesh platform has achieved a number of important milestones that signal its robust growth and potential. Among these is its perfect record of security and network stability. Polymesh hasn’t suffered a single security breach or network downtime event in all its years of operation. The platform also keeps confidently expanding its validator network, with nearly 50 institutional providers having joined in. Moreover, Polymesh’s validators aren’t just ordinary users with the equipment to run a blockchain node; all of them are regulated financial organizations whose partnership with Polymesh signals the platform’s expanding industry footprint.

You can buy Polymesh POLYX on Bybit via the 

 Perpetual contract. If you don’t yet have a Bybit account, you can easily 

 for one. A Bybit account allows you to access hundreds of crypto assets and products, both in the Spot and Derivatives markets.

After the 2017–2018 ICO boom, security tokens experienced a certain decline in popularity for several years. Their profile is now rising again with the arrival of the RWA concept. As one of the leading securities-focused crypto platforms, Polymesh is at the forefront of the TradFi and DeFi convergence powered by RWA growth.

The platform already boasts close to 4,000 users, a significant number for a network used for security asset management and trade. As traditional securities from regulated markets are increasingly tokenized, expect further growth for Polymesh. Its platform is now shaping up as the primary bridge connecting traditional securities and their blockchain-based tokenized versions.

Polymesh (POLYX): A Security Token Blockchain for Regulated Markets

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards