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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A white-label crypto exchange is a ready-to-deploy crypto platform that can be customized and launched as an independent brand. Find out more about it here.

If you’ve always wanted to create your own cryptocurrency exchange but are plagued by worries about the amount of money required in doing so, you’ll be glad to know that white-label products exist. A white-label cryptocurrency exchange platform will save you plenty of time and millions of dollars in expenses. This article offers an overview of the market including helpful tips to get you started right away.

A white-label is any product or service manufactured or pre-configured by a third party but sold by retailers with their own branding and logo.

In simple terms, a white-label is when you take someone else’s product and put your name on it. It’s often a win-win situation for the product manufacturer and the seller. In this partnership, the product manufacturer focuses on building and improving the product while the seller concentrates on marketing and selling the product.

There are lots of successful stories in this niche. For instance, 

. An entire range of food products is sold under this white-label concept. Similarly, 

 is a world-famous mobile phone brand that has established itself in more than 30 countries using the same methodology.

Today, some of the most popular food items, phone accessories, and fitness equipment are sold using the white-label concept. The main benefit of white-abel branding is that it saves you time, cost, and research expenses.

Sometimes, the two similar terms, white-label and private label, are used interchangeably. However, they are not the same. A white-label product is often sold to multiple retailers based on their requirements and niche market. On the other hand, a private label product is manufactured and designed exclusively for a specific retailer.

While both white-label and private label have advantages, building a private label product is expensive and involves the same risks associated with any new product. Therefore, most businesses and retailers stick to the white-label solution.

A white-label crypto exchange is a preconfigured, ready-to-deploy crypto platform that can be customized and launched in the market as an independent brand.

It’s a turnkey solution for anyone interested in launching a new crypto exchange business, whether you’re a forex trading company venturing into the crypto space or an existing crypto exchange on the lookout for a better solution. Among a variety of features, the trading platform may include a powerful matching engine, user-friendly interface, digital assets, APIs, enterprise-class wallet, and advanced payment processing capabilities.

As you may have guessed, a white-label crypto exchange is just like any other non-branded white-label product. If you want to launch your own platform, the only thing you need to do is to put your name on it.

Besides operating as a full-service exchange, the white-label service can also address a specific requirement. For instance, the service can be fine-tuned as an investment platform letting users invest in specific crypto assets. Likewise, the solution can be turned into a wallet custody business. It's sometimes used as a liquidity solution.

So, why should you choose a white-label crypto exchange instead of 

How Does a White-Label Crypto Exchange Work?

The main purpose of a white-label crypto exchange is to offer a ready-to-launch platform that is customized according to your requirements. To run the trading platform, you must agree to a white-label software license. The white-label software package usually contains all the important features needed to trade different kinds of cryptocurrencies and run all the typical functions of a crypto exchange.

A typical business model is composed of two distinct elements: technical and sales. The white-label crypto software primarily handles the technical aspects. It will manage the platform technology as well as help handle security, finance, and operations. Here is how it may look:

While technology is critical to running a white-label solution, there are important sales aspects that you will either need to do independently or ask your provider to assist you. For instance, customer relationship management and marketing are something that you will need to do yourself.

A customer relationship management program can include listening to calls, offering promotions, and acquiring customers. Similarly, business marketing includes search engine optimization, PR, and referral programs.

There are other sales aspects that you will need assistance with. Talk to your service provider about the legal aspects, contracts, and compliance. If you want to operate in multiple countries, you can take advantage of your partner's experience in getting compliant in different jurisdictions.

Liquidity is another important factor that will impact your overall sales. As a first step, try to see if your partner can offer enough liquidity to accommodate your goals. If there aren't enough liquidity pools, then you may have to look to external liquidity providers and deploy a bridge to other exchanges.

Benefits of Using a White-Label Crypto Exchange Software

A white-label crypto exchange software is a complete package that lets you run, configure, and change different components of the platform. All of these different components are designed to work together, which helps streamline business operations. Modifying one component will automatically adjust the functions of the related modules.

The software is an all-in-one instant solution for all your needs. Here's what it can do for you:

A traditional crypto exchange requires a lot of research and development, particularly when you need to continuously tweak different elements during the initial stages of its launch. In contrast, a white-label solution is pre-tested, which can give an immediate boost to your brand without the usual risk associated with the pre-launch phase.

It can take years to build a viable crypto exchange. Instead of delaying your ambition, it's better to use white-label crypto software to enter the market. In some cases, the entire system can be deployed in less than a month.

A reliable system without any major glitches will ultimately define your brand. This is precisely what a preconfigured white-label crypto exchange solution gives you, so you can focus on customer relations.

You need maximum flexibility to succeed in a competitive environment, and going white-label is precisely what you should do. It will let you customize your platform according to your niche. Furthermore, there is no need to build or pay for a module that you will never use. This is also a great way to scale your business because you can add advanced functionalities as the need arises.

Any white-label crypto exchange should come with 24/7 support. Some of the best solutions have an army of teams at your disposal. If there is a problem, you know who to turn to. This is not entirely feasible when you're working on your own product because developing a new crypto exchange has its ups and downs. At that time, you need to wait to find a solution that may not work in the end.

The cost of launching a crypto exchange is a challenging process, which often requires funding from venture capital firms and investors. Sometimes, you need to dig in your own pockets to find additional revenue streams needed to break even. This is why so many budding entrepreneurs fail. A white-label crypto exchange reduces such risks because it's cost-effective, and you can break even much quicker than traditional setups.

The security of a crypto exchange remains a prime concern for founding members. According to

, hackers stole nearly $1.9 billion from various crypto exchanges in 2020. To safeguard your assets, a white-label solution will give you enough time to critically think about different security measures. If required, you can also opt to use DoS, 

, two-factor authentication, biometrics, data encryption, and 

If you're partnering with a reputable provider who has extensive market experience in running a crypto exchange, you can rely on their product expertise. It also means that you don't need to set up your own R&D because there is always someone to guide you along the way.

How to Choose The Best White-Label Crypto Exchange Software Provider

Recently, the word "white-label" has almost become a buzzword in the 

 space as entrepreneurs want to cash in on this opportunity. Despite the appeal, it's not a one-size-fits-all solution. This also means that what is good for you may not suit the requirements of others.

Here is a brief list of five important features to look for when it comes to choosing the best white-label crypto exchange software provider:

Security is paramount to your long-term success in the business. Take a good look at the security protocols and backend features offered. If the white-label solution looks good on paper, don't hesitate to pick up the phone and talk to the technical team about the security provisions.

Depending on the business model, you may want to discuss 

 (know your client) and KYT  (know your transaction) protocols. Similarly, it's a good idea to discuss any 

You can't impress your clients if you can't offer them access to their desired liquidity. Traders love liquidity because it translates into instant trade execution, less volatility, and tight spreads. High liquidity also means that your clients can easily turn their digital assets into cash.

Take a good look at the liquidity provision. It will give you important clues regarding the depth of the market. Some white-label exchanges work with an external vendor to provide Tier 1 liquidity, while others may use a non-bank liquidity provider.

When designing a crypto exchange, it's quite common to forget that your success doesn't depend on what you think is important; instead, it's the other way round. Success depends on how your clients perceive your product offering. This is why you should pay special attention to user experience and customer support.

Under these circumstances, make sure that the user interface is straightforward to navigate. Since many of your clients may be new to crypto, keeping everything simple will entice them to open an account. Also, review the customer support tool to ensure that you have got the right tools to meet your customer service goals.

If you want clients from multiple jurisdictions, don't forget to review how the software affects the regulatory affairs in different jurisdictions. Most white-label crypto platforms and their customers don't correlate regulations with the technical aspects.

In reality, different software features such as KYC, AML and the provision of incentives are often aligned with regulations and laws of respective countries. This is why the team behind the software must have the experience and knowledge of the interrelation between their product and how it impacts their clients.

The rapid evolution of crypto is a result of new projects. It's also the reason why so many new customers flock to crypto exchanges looking for the next big thing in the crypto sphere.

Let's agree that the capitalist mindset will continue to push investors to seek new revenue sources. Therefore, to keep everyone interested, your white-label solution should provide your clients access to a variety of coins and tokens. The greater the number of digital assets, the better your chances of success.

Bybit Cloud: Bybit’s White-Label Crypto Exchange Solution

Bybit Cloud is a white-label crypto exchange solution offered by Bybit - the leading crypto exchange in the world. It's a highly flexible feature-rich solution that can be deployed within a matter of days. You can use Bybit Cloud to create a powerful white-label product backed by world-class infrastructure and have an experienced team located in different regions guide you through the entire process.

Bybit Cloud is a unique concept that is trusted by trading brokers, blockchain enterprises, digital asset platforms, and digital asset holders. It will let you reach new opportunities in the crypto asset market through a comprehensive suite of services. Using the crypto cloud, you can quickly establish a crypto exchange, build a trading ecosystem, leverage the best-in-class market depth, and provide comprehensive data analytics capabilities.

If you’re interested to get started, here is how we can help:

 Reach out to us with your business goals and needs.

 After initial talks, you will get a fully customized preliminary solution within five working days, along with fundamental assets such as domain name, logo, developer account, and other important tools to manage your brand identity.

 We will deliver comprehensive product training and business operational guidance. You will be provided with timely assistance every step along the way as you launch your own crypto trading platform.

Crypto Cloud is a full-featured software that can help you reach your goals in a very short time. If everything goes according to the plan, you can be running a fully functional brand in less than 30 days.

This is a huge opportunity to tap into a multi-billion dollar market and compete with the big boys without using extravagant amounts of money.

 This article is for educational purposes only. Bybit no longer provides crypto white-label services, nor do we endorse any form of investment. We encourage users to seek professional advise before investing in any financial instruments and do their due diligence before committing to any sort of investment. 

What Is a White-Label Crypto Exchange & How Does It Work?

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