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

Crypto

Investing

Why is crypto crashing? Find out all the possible reasons for a crypto crash and what you can do to protect yourself from the next big crash.

Crypto_Crash.jpeg

The cryptocurrency market has always been known to be wildly volatile, with rises and falls in prices as dramatic as a rollercoaster ride. The recent May meltdown is one of the greatest crypto crashes in years. It’s left many crypto investors high and dry — especially if you're one of those who have poured their life savings into crypto investments. The bad news of this latest drop can turn your life upside down; you're not sure what happened or why, but you're panicking and wondering if you should sell everything.

Put a hold on that thought, and stay calm. You’ll first need to find out more about the possible reasons why crypto is crashing before you make any irreversible decisions.

 is a digital currency that’s secured by cryptography, making it nearly impossible to counterfeit or double-spend. Cryptocurrencies are decentralized, meaning they aren’t subject to the control of governments or financial institutions around the world.

The popularity of cryptocurrencies has grown in recent years, due to their potential for investment gain, their use as a hedge against traditional fiat currencies, and for peer-to-peer online payments. Some experts believe that cryptocurrency will eventually replace fiat currency altogether, but this remains to be seen. In the meantime, crypto remains a volatile but potentially lucrative investment.

Now that you’re up to speed on what a cryptocurrency is, here are eight of the most common reasons for a cryptocurrency crash. 

Granted, cryptocurrencies such as Bitcoin have the potential to be used as a form of payment anywhere in the world. After all, we’ve recently seen increased levels of adoption with countries such as El Salvador even announcing that Bitcoin would be accepted as legal tender. But for the most part, cryptocurrencies aren’t widely used as a means of payment, but rather are held as investment commodities.

This limited utility is one of the main reasons cited by experts for crypto crashes. If there's no real-world use for a digital asset, then it's likely its value will eventually crash. After all, there's only so much speculation that can prop up a currency with no actual use.

 of small businesses accept cryptocurrencies as payment for goods and services. Compared to other payment options, like credit cards (80%) or PayPal (61%), crypto transactions are still in the minority.

Another major factor that can cause a crypto crash is government regulation. Over the years, select jurisdictions have cracked down on crypto, but its implications have been most fully felt with China’s aggressive crackdown.

In September 2017, the Chinese government imposed a nationwide ban on initial coin offerings (ICOs), which are a form of crowdfunding for crypto projects, and also ordered all exchanges to cease trading activities. This caused the value of Bitcoin to 

 in just a matter of days. In June 2021, China was at it again, putting its foot down on all crypto-related activities. This led to multiple crypto miners shutting down their businesses. As China miners contribute to 65% of mining activities worldwide, ramifications were unavoidable. After enjoying an all-time high of $65,000 for the month of April, prices 

Although the Bitcoin network has since recovered, there’s no telling what other cryptocurrency regulations may be imposed in the future, which could potentially lead to another crypto crash.

Other countries that have stringent laws when it comes to crypto include South Korea, which implemented several restrictions on crypto trade in 2018. Egypt, Iraq, Bangladesh and Algeria have also placed harsh regulations on crypto-related activities.

In most cases, when a regulatory body announces that it's going to crack down on cryptocurrencies it can lead to a sell-off, as investors worry about what the new rules will mean for the future of the crypto market.

Another common factor that can lead to a crypto crash is FUD, which stands for fear, uncertainty and doubt. As some cryptocurrencies (such as 

) do not have much inherent value on their own, their values are very much tied to investor sentiment. If there's negative news about a particular cryptocurrency or company, investors may sell, wishing to avoid potential losses. And as crypto is closely intertwined with macroeconomic events, a stock market crash, inflation, or any catastrophic world event can cause a crash in crypto prices.

 is a perfect case of FUD. The current overall bearish stock market and the global economy will naturally lead people to be more conservative in their investments. And with crypto being a volatile asset that’s highly susceptible to broader market swings, people will feel FUD when it comes to risky investments. On top of that, over a span of just a few days last month, the algorithmic stablecoin TerraUSD and its sister currency, Luna, entirely collapsed. This created a cloud of fear among crypto investors, causing prices to dip even further for all other cryptocurrencies.

Another notable example was when Tesla CEO Elon Musk announced in May 2021 that his company would no longer accept Bitcoin as payment for its electric vehicles. This caused the price of Bitcoin to 

Similarly, if there's any news about hacks or security breaches, that can also trigger a sell-off, as investors lose confidence in the safety of their investments.

Crypto exchange hacks can also contribute to crashing crypto prices. If a major exchange is hacked and investors lose their funds, that can trigger a sell-off as people lose confidence in the safety of cryptocurrencies and rush to trade in their digital assets for stable fiat currencies.

 in 2014, for instance, led to the loss of 850,000 bitcoins, worth over $470 billion at that time. This in turn led to a 20% fall in Bitcoin prices. After all, exchanges are where people often buy and sell cryptocurrencies, so if there's a security breach, that can lead to significant losses and panic across the crypto market.

5. Cascading Sell-Offs Caused by Margin Debt

As the popularity of cryptocurrencies continues to grow, so does the amount of money that investors are willing to put into digital assets. While this can provide a boost to the market and lead to increased trading activity, it can also create the risk of a crypto market crash. One way this can occur is through margin debt. 

Margin debt is incurred by an investor who performs 

 — that is, borrowing funds, or leveraging from a broker or an exchange, to trade. When investors borrow money to purchase additional coins, they increase their potential profits — but also their potential losses. The greater the leverage, the greater the effect in the price drop when assets get liquidated, creating a cascade selloff effect leading to a plunge in the crypto prices.

Sometimes, a crypto crash can be caused by technical issues. For example, a problem with the technology underlying a particular cryptocurrency can lead to a sell-off. This was the case with Ethereum in 2016, when a hack led to the 

Similarly, if there are any issues with popular wallets or exchanges, that can also lead to a sell-off as investors lose confidence in the safety of their digital currencies.

Even though Bitcoin is renowned for pioneering the crypto revolution, and Ethereum for its smart contract platform, these first- and second-generation cryptocurrencies continue to be weighed down by inherent technical issues and a lack of scalability.

With over 17,000 digital currencies available today, innovative dilution of legacy cryptocurrencies is inevitable. Since Bitcoin and Ethereum dictate the entire market, any major technical setback could lead to a domino effect and a sharp sell-off across the market.

Unfortunately, there are always people looking to take advantage of investors in the crypto market. From the 

 scheme of FaZe Clan, crypto enthusiasts were targeted by several high-profile scams throughout 2021, with reports showing scammers got away with over $14 billion worth of value from the market.

Given the high-tech nature of cryptocurrencies, it can be easy for scammers to create fake wallets, exchanges, and even digital currencies. These 

 can often lead to investors losing their hard-earned money, which can trigger distrust in the overall markets of cryptocurrencies and everything blockchain-related.

Scams in the crypto space not only lead to investors losing millions of dollars or more, but also contribute to a general increase in skepticism and FUD around cryptocurrencies.

Another factor that can cause a crypto crash is market manipulation. This is when someone tries to artificially manipulate the market by spreading FUD or buying and selling large amounts of a particular cryptocurrency. This can often be done by a group of people or entities working together, known as whales.

 are investors with a large amount of money to put into the market, and they can (intentionally or not) often have a significant impact on prices. For example, if a whale buys a large amount of Bitcoin all at once, that could lead to an increase in the price. However, if they then sell all of their Bitcoin at once, that could lead to a sharp decrease in the price.

While market manipulation can be difficult to spot, it's important to be aware that it does happen in the crypto world.

Now that you know some of the main reasons why crypto crashes happen, you may be wondering what you can do to protect your investments in case of a crash.

: If you invest in only one asset, your risk is amplified. To reduce your risk, diversify your portfolio. This means investing in a variety of different cryptocurrencies, as well as other forms of investment, rather than putting all your eggs in one basket.

Don't invest more than you can afford to lose

: It's important to remember that the cryptocurrency market is still very volatile, and crashes can happen at any time. As such, don’t invest more money than you responsibly can.

: This is an investing strategy whereby one regularly invests a fixed amount of money on an asset each month, spreading out the investment over time. Regardless of the market’s ups and downs, investments are continuously made so that you lower the average cost of your purchase as compared to making a lump-sum purchase when the market price is high.

: One of the most popular crypto phrases is "HODL," originally a typo, which has come to stand for "hold on for dear life." This phrase is often used during times of market volatility to encourage investors to hold onto their coins, rather than sell them in panic. After all, the volatility of the market means that when crypto prices fall, they’ll eventually rise again, as evidenced by the dramatic movements of Bitcoin over the years.

While there's no guaranteed way to fully protect your assets during a crypto crash, following these tips can help you minimize your losses and ensure that you're prepared for market volatility.

Cryptocurrencies have brought life-altering gains to many investors. However, with every major market rally comes the potential for a devastating market retracement.

For most onlookers, these volatile market swings are a cause for concern. But for those who have done their research — and are prepared for the crypto market’s ups and downs — these sudden price changes present an opportunity to buy assets at discounted prices.

Whether you’re new to the world of cryptocurrencies or have been investing for years, it’s important to understand the various factors that can lead to a crypto crash. By being aware of these risks, you can make sure that you’re prepared for market volatility and ready to take advantage of any opportunities that may arise.

Crypto Crash: 8 Reasons Why it Happens

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