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

Blockchain

Shibarium is a Layer 2 blockchain scaling solution aimed at enhancing the workings of Shiba Inu’s host chain, Ethereum. Find out more about it in this article.

Crypto enthusiasts can never rest; it sometimes seems like new coins, blockchain solutions and similar developments arise hourly. By now, many crypto lovers have heard a lot about a mysterious blockchain solution called Shibarium.

Though Shiba Inu's developers haven't released all the facts about Shibarium quite yet, they've shared more over the past few weeks — and the trickle of information is turning into a faucet. Soon, it will soon become a firehouse. Read on to find out what we know about Shibarium, what we don't and what we'll learn soon.

 scaling solution—a secondary framework added on top of another blockchain to improve scalability and increase transaction speed—aimed at enhancing the workings of 

The primary purpose of Shibarium is to optimize Ethereum, Shiba Inu’s host chain, by increasing scalability. That's not all, though.

Prior to his departure from the crypto space, Shiba Inu's creator 

 mentioned in a now-deleted blog post that he hoped for the blockchain solution to do the following:

Ryoshi also wanted the Shibarium blockchain to help change the common perception that Shiba Inu is just a meme coin, convincing people to see it as a valuable asset.

Shibarium could even result in the Shiba Inu (SHIB) price rising. That would be a welcome development to some, now that Shiba Inu's value has dropped 88% from its highest price in the current bear market.

Transactions will be divided between the Layer 1 chain (Ethereum) and Layer 2 protocol (Shibarium). That may sound like it would slow things down, but the opposite is true: Shibarium will handle a large portion of the load, preventing Ethereum transactions from overwhelming the system. The result will be a drop in network congestion.

Shibarium has a built-in mechanism which allows coin holders to 

 tokens, removing them from circulation and boosting the coin's price. It’s reported that Shibarium may charge a nominal transaction fee and use that fee to burn SHIB tokens. This would allow Shibarium to continually burn tokens and drive up the value of SHIB exponentially and sustainably.

For the uninitiated, blockchains have set amounts of tokens, so limiting them makes those that are left over more valuable. Burning works by sending tokens to 

 that accept but never release them, removing access to them forever.

Holders who burn their tokens are likely to be rewarded with lower transaction fees. 

The Shibarium blockchain will provide countless benefits. Here are just a few:

 is known to have abnormally high gas fees. Shiba Inu users feel the pinch, and only a Layer 2 solution can solve the issue, since SHIB relies on the Ethereum blockchain.

Increased efficiency will produce the sort of rapid, low-cost transactions necessary for gaming. Moreover, Shibarium's efficiency as a scaling solution could make the SHIB ecosystem more appealing to large companies that must complete countless daily transactions.

Developers have already conducted a private Shibarium launch as part of the 

 phase, stating that the private launch went well. A wallet tool is the primary feature under development to get Shibarium ready for a full launch.

The Layer 2 solution has also passed through a public testnet phase, which developers deemed a success.

Investors — and hopeful potential investors — have been eager to learn the final launch date, when Shibarium will be available on the Ethereum mainnet. Developers spent months saying it was imminent, but they were unable to give a precise date because of difficulties in ascertaining how long development might take.

Although the official release date is still unknown, a clearer image is starting to form: Shytoshi Kusama, Shibarium's principal developer, has indicated the launch will be “soon” 

 Twitter user @Hekadabighomie. Likewise, Unification Foundation, the company developing Shibarium, 

 that the Shibarium public beta would be available in Q3 2022, which means that the launch is likely to occur before September 30.

Only Shiba Inu will benefit from Shibarium. Currently, many people think of Shiba Inu as a meme coin—a cryptocurrency that functions as a meme, inspiring many to engage with it before they eventually lose interest.

Meme coins are generally considered a "pump-and-dump" option that holders purchase solely to wait until their value increases, in order to sell them for profit.

Since Shibarium will help stabilize and even raise the price of Shiba Inu through its burn mechanism, it will help to reduce the token's meme status. History shows this is possible: Critics have often flung "meme coin" accusations at cryptocurrencies that later proved to be serious investments, such as 

Lower transaction fees could also benefit the values of tokens within the Shiba Inu ecosystem by encouraging more transactions (in general) and enticing new crypto traders.

The Shiba Inu ecosystem involves more than just one type of token. It also includes LEASH and BONE tokens. Notably, developers have chosen BONE as Shibarium's utility token — the asset developers use to raise funds for new cryptocurrency projects.

Each type of token in the ecosystem provides different ways for holders to increase their return on investment. Holders can use 

Though BONE is Shibarium's chosen utility token, SHIB is the native token within the Shiba Inu ecosystem. Unlike any cryptocurrencies before, SHIB allows users to hold trillions of tokens simultaneously.

The supply is capped at 1 quadrillion — or 1,000 trillion — so it's not going to run out any time soon.

SHIB arrived on the scene in August 2020 and was marketed as a rival to 

. Though its value has fluctuated, token prices have never come close to even one U.S. penny. However, that means Shibarium's influence could create exponential gains for investors.

LEASH, sometimes referred to as Doge Killer, is well-named. Just as an actual leash limits the pup at the end of it, this token limits liquidity with a cap of 107,646 tokens. Initially released as a 

 — a token meant to stabilize other tokens within an ecosystem — the developers ultimately abandoned that purpose and decided to put LEASH to other uses.

What LEASH lacks in liquidity, it makes up for with other benefits. Liquidity holders can stake (or “bury”) LEASH tokens, placing them in an asset pool for earning rewards. That increases the overall value of the pool. Rewards include xLEASH tokens, which you can trade for SHIB after unstaking.

BONE is ShibaSwap's governance token, meaning its owners get to vote on ideas and proposed plans for the Shiba Inu ecosystem. Capped at 230,000,000 tokens, it's so well-regarded within the ecosystem that developers receive their pay in BONE.

And now it's also Shibarium's utility token—but why is the BONE token the best choice? There are a few reasons. Among these is that its cap is high enough to allow users to purchase large amounts while sustaining liquidity, but low enough to keep BONE from needing intense management to keep the price afloat.

While LEASH's value has shot into the thousands of dollars in the past, and SHIB's has never even reached 1 cent, BONE floats somewhere in between. Its circulating supply is more limited than SHIB’s, but significantly less limited than that of LEASH.

Its status as the governance token of the ecosystem makes it a perfect 

, too. In one sense, utility tokens are for fundraising, so it's natural that purchasers would also want a say in how the ecosystem goes.

Ryoshi suggested in a blog post that BONE will be a clear "0" starting point as the Layer 2 solution's utility token as they would not have to worry about overarching “whale bags.”.

If Shibarium achieves its goals, it will have a monumental effect on the Shiba Inu ecosystem. Token values will stabilize — and even rise — and transactions will be faster and cheaper. Furthermore, it will create a more decentralized exchange to provide increased liquidity.

It's impossible to guess the specifics of what will come from the ecosystem-related apps and services that develop with Shibarium as their foundation. Developers will be able to implement novel uses of the blockchain's technology. However, there's little doubt that such apps will make the ecosystem more robust.

 applications is one of the most intriguing possibilities for the scaling solution, one that could turn Shibarium into a force to be reckoned with.

Though many see Shiba Inu as a meme coin, it has already grown beyond its initial reputation. It's now spread to become an entire ecosystem, with tokens like LEASH and BONE serving purposes SHIB couldn't have handled alone.

Shibarium provides a chance to leverage and grow the ecosystem by offering faster transactions, increased security and more. Developers have put their all into making sure this eagerly anticipated blockchain solution hits the ground running.

Shibarium: The Upcoming Layer 2 Blockchain Solution for SHIB

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Grab Up to 5,000 USDT in Rewards