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

Bybit Guide

USDC Futures are a type of Futures contract in which settlement takes place in USDC, providing a reliable and stable means to manage Futures positions.

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USDC Futures stand out as a crucial tool for sophisticated investors seeking to optimize their trading strategies and manage risks effectively. These Futures contracts, offered with exceptional liquidity on platforms like Bybit, are designed not just for simple trading but for implementing complex strategies such as cash-and-carry trade, which involves exploiting market inefficiencies through arbitrage. In this article, we’ll explore Bybit USDC Futures and learn how you can use them to maximize your returns.

USDC Futures are a type of Futures contract in which settlement takes place in USDC (a stablecoin tied to the U.S. dollar), providing a reliable and stable means to manage Futures positions. These instruments are tailored for large-scale investors looking to hedge arbitrage and capitalize on market discrepancies.

 that exploits the price differences between the Futures and Spot markets. In this approach, a trader buys an asset in the Spot market, while simultaneously selling a Futures contract for the same asset. This method is considered "market neutral" because it’s designed to create profit, regardless of whether the market price of the asset rises or falls. Profit in one position typically offsets loss in the other, making the trader’s position indifferent to fluctuations in the underlying asset's price direction. This strategy allows traders to capitalize on inconsistencies between two pricing mechanisms without speculating on the asset’s overall market movement.

USDC Futures contracts are designed for trading on a specific expiration date, enabling traders to set buy or sell prices in advance. These contracts are both quoted and settled in USDC, and must be managed through a 

USDC Futures contracts offer financial flexibility, with no funding fees or charges for delivery settlement. The delivery price of these contracts is determined by the 

 during the final 30 minutes before the contract's delivery time. Importantly, the index price used for USDC Futures contracts aligns with that of the corresponding Perpetual contract, ensuring consistency across trading platforms.

Currently, Bybit only supports BTC and ETH USDC Futures contracts. These USDC Futures will be available for trading from 8AM UTC to 9AM UTC on the day of listing.

*On Bybit, the symbol of the USDC Futures C=contract is composed of the underlying asset delivery date. For example, BTC-17MAR23 means that the BTC-USDC Futures contract was settled on Mar 17, 2023 at 8AM UTC. 

Upon the delivery of the weekly contract, the bi-weekly contracts will automatically become the new weekly contracts, and the tri-weekly contracts will transition to bi-weekly. Subsequently, a new tri-weekly contract will be introduced. 

If the delivery date of a monthly contract coincides with that of an upcoming tri-weekly contract, the monthly contract will convert into the new tri-weekly contract. Simultaneously, the bi-monthly contract will advance to become the new monthly contract, and a new bi-monthly contract will be issued.

There are multiple benefits of using Bybit USDC Futures, as listed below.

USDC Futures allow traders to hedge by using both Spot and Futures positions. Regardless of market movements, this combination can lock in profits due to the divergent exposure on both ends. Essentially, whether the market trends upward or downward, the opposing positions in Spot and Futures markets provide a buffer, thus reducing overall risk.

Enhanced Leverage Via the Unified Trading Account

Another significant advantage is the utilization of the Bybit Unified Trading Account. This setup enables traders to borrow funds, thereby increasing leverage and potentially amplifying returns. The integration of leverage in a single account simplifies management, and enhances the ability to respond to market changes swiftly.

USDC Futures typically don’t require continuous trading, unlike other derivative products. Traders can maintain their positions until the delivery date without incurring costs associated with trading fees, making USDC Futures a cost-effective option. This feature is particularly beneficial for long-term hedging strategies.

Enjoy exceptional liquidity when you trade USDC Futures on Bybit. Our platform supports the rapid execution of large-scale trades without significant price 

. This is crucial for strategies that require quick entry and exit, thus enhancing overall trade profitability.

There are no delivery fees for USDC Futures held to the delivery date. This cost-effective feature ensures that profits are maximized by reducing the expenses associated with long-term trading positions.

If you’d like to further maximize capital efficiency, use USDC Futures in Portfolio Margin. This approach allows for increased leveraging opportunities and streamlined capital management, boosting the potential for higher returns.

Arbitrage Strategies to Use With USDC Futures

The Spot and Futures arbitrage strategy entails buying an asset in the Spot market while selling the same asset in the Futures market at a higher price, thereby capitalizing on the price discrepancies. The success of this approach depends heavily upon transaction costs, market liquidity and volatility, as these factors influence your net return from the arbitrage.

You can trade both USDC Futures and Spot on Bybit with top-tier liquidity.

Funding rate arbitrage is a trading strategy that involves earning through periodic payments exchanged between long and short positions in Perpetual contracts. When the funding rate is positive, a trader can buy an asset at Spot prices, and simultaneously short a Perpetual contract. This strategy, known as positive arbitrage, leverages the funding fees as a steady income stream.

The Bybit Unified Trading Account allows you to use over 70 assets as collateral for trading, which enhances the effectiveness of your capital and offers an ideal platform for cash-and-carry trading via Cross Margin and Portfolio Margin. For example, if you’d held BTC Spot without borrowing, and shorted the same amount in BTC Perpetuals for the past 30 days, you would have earned a risk-free return of 3.12% for just one month — and if the market continued its upward trend, the 

Below are some popular coins with high APRs for funding rate arbitrage over the past 30 days.

The Success of Using the Cash-and-Carry Trade

Cash-and-carry trade involves buying an asset in the Spot market while simultaneously selling a Futures contract. Traders lock in the differential between the Spot and Futures prices, which is particularly effective in stable or upward-trending markets. Implementing lower leverage levels can help to mitigate the risk of 

. Since Perpetual contract prices closely follow Spot price movements, there’s generally less (or even no) risk involved in funding rate arbitrage. However, traders should remain cautious of the potential risks of liquidation resulting from significant mispricing between Spot and Perpetual contracts.

When implementing the cash-and-carry trade strategy, ensure that you invest properly in order to reduce trading risks. Look for markets with high liquidity to ensure smooth trade execution. Please 

 that slippage may occur if large investments are pushed into a 

Low transaction costs are essential to maximizing profits. Don’t change investment assets or adjust positions frequently, as this will prevent the profits earned and interest from margin trading (if any) from covering transaction costs, including trading fees and slippage.

Bybit offers a cash-and-carry trading tool to make arbitrage simple. The 

 (available only on the Bybit App) is designed specifically to assist in capturing arbitrage opportunities. It enables the placement of multi-leg orders in opposite directions, which streamlines the process and makes it more efficient. Traders can explore rankings based on funding rates or spreads in order to find some profitable APY pairs for arbitrage opportunities. 

If you're intrigued by the benefits of hedging risks, leveraging capital efficiently and exploring arbitrage opportunities, USDC Futures could enhance your trading strategy. Whether you're experienced or just beginning, Bybit's platform offers the tools and liquidity to help you maximize returns. Nevertheless, it's important to 

 and consider the risks involved in Futures trading. Make sure to fully understand both the instruments and the market conditions before you start trading.

USDC Futures provide a robust tool for traders looking to efficiently execute hedging arbitrage strategies. By leveraging Futures alongside Spot and Perpetual contracts, traders can enjoy reduced risk, manage their portfolios more efficiently through unified accounts and minimize transaction costs. As the crypto market continues to evolve, these strategies will be instrumental in helping traders navigate the complexities of cryptocurrency investments, ensuring profitability in various market conditions. 

 and start leveraging the advantages of USDC Futures with Bybit, and remember to proceed with caution and informed decision-making.

Top Reasons to Use Bybit USDC Futures to Maximize Returns

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards