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

Crypto

Crypto Crowdsale has been making headlines which creators are raising capital for project expansion. But what else should you know about it? Learn more now. 

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Digital assets remain resilient despite last year’s calamitous events. Crypto, NFTs and web3 have made their way into investor interests and recently, the crypto crowdsale has been getting a decent buzz.

This begs the question of why there is a need for crowdsale — despite the existence of 

s and crypto launchpads. While these are great financing options, no one-size-fits-all products exist. With a crypto crowdsale, businesses can exert more control over the digital assets in circulation for targeted audience pools. 

s (initial coin offerings). While there is some resemblance, ICOs and crowdsales are distinct in one fundamental way: an ICO is subject to securities laws, while a crowdsale is not. With these essentials covered, it's time to dig into what a crowdsale actually is and how it works.

The term “cryptocurrency crowdsale” refers to a blockchain or crypto creator raising capital for infrastructure investment, project development or expansion.

 The concept is akin to approaching a venture capitalist to raise funds, but with a twist. One perk of a crowdsale is that it obviates SEC requirements necessary for IPOs. Instead, new cryptocurrencies, non-fungible tokens or other forms of digital assets are released to the public via the crowdsale. In return, the funds raised are repurposed to refine the project. 

Still, it’s important to note that the coins or tokens don't always represent a stake in the actual company. The coin or token may have a monetary value, or only be redeemable as in-house credits.

While a crowdsale does resemble crowdfunding, such as that on sites like Kickstarter, it's not precisely the same. Traditional crowdfunding typically promotes and sells a future product of some kind. Invest at a certain level, and you get a version of the product when it goes into production.

Crowdsales don't sell a future product. Instead, they sell coins or tokens. Invest a certain amount, and you get a certain amount of crypto in exchange. The business running the crowdsale must make some key decisions going into the sale. For example, most businesses set soft and hard caps on the targeted funds. The soft cap is the minimum amount the sale must raise to be viable. The hard cap is the maximum amount the company will raise during the sale. Beyond that, the company must also set rules for the cryptocurrency it issues, for example how coin or token holders can use the crypto in the business.

Remember that in order for a project to qualify as a crowdsale, the crypto can't function like a stock in the company that generates money for holders. The crypto must have a specific utility to the business, such as acquiring services later.

Once the business team establishes the rules of cryptocurrency, they move on to promotion. The type and extent of the promotion will depend a lot on how much the company wants to raise, and whom the company wants to use its services later. 

With the rules and marketing campaign hammered out, the business will need a platform to facilitate sales. If the business has a comprehensive in-house IT department, it might run the sale through its own website. If not, they'll likely turn to a third-party platform to deal with the technical logistics. Most commonly, creators of crypto rely on blockchain technology to set parameters and guidelines for a smart contract to reduce fraudulent transactions and promote transparency. Buyers and sellers can engage in the sale when a mutual agreement has come to terms to be executed. 

Crypto Crowdsale vs. Crypto Launchpad vs. Initial Exchange Offering

With more terms and concepts continually cropping up in the crypto scene, it can be difficult to distinguish between a crowdsale, 

 and IEO. Let's look at each one to get a better feel for them all.

A crypto crowdsale is almost always handled as a direct transaction between a project and its investors. It's often a way for the project creators to make the business more accessible to longtime supporters who want to use their services later.

A crypto launchpad, sometimes referred to as a crypto incubator, is a gateway for project creators to list their projects that haven’t yet been made public. This means anyone who wants access to these pre-public projects must have an account with the exchange. 

In most cases, new members must successfully navigate a 

 that verifies identity and performs a risk assessment. Assuming a person passes KYC, they can receive access to pre-public crypto projects listed on the crypto launchpad.

The initial exchange offering, or IEO, is essentially a public version of the crypto launchpad. The business or project forms a business arrangement with the crypto exchange. The partnered crypto exchange will handle the IEO’s promotions, like coin distribution via airdrop, and the sale of the tokens or coins from business to clients (B2C).

How to Look for a Platform That Offers a Quality Crowdsale Project

Crowdsale projects spring up all the time. Your best bet is to take a similar due diligence approach by getting recommendations directly from people reputable in the crypto scene. 

Dive deeper into the platform's track record, historical data, trading volume, and assets under management — and, most importantly, evaluate reviews of the platform. Also, consider how long the platform has been in operation. If it only launched three months ago, there will be much less information to evaluate. If the platform has been around for five years, simple longevity offers some assurance that the platform provides quality crowdsale projects.

Like most kinds of investment, crowdsales have their fair share of pros and cons. Let's look at some of the pros first.

One of the critical advantages of participation in a crowdsale is that it lets a person get in early on a new cryptocurrency. While the intended function of the coin or token may be internal use, opportunities to sell it for a profit will come later.

Of course, those advantages also come with some disadvantages. The main disadvantage of crowdsales is that they’re high-risk. Investors don’t know if they'll ever get to use their coin or token for its intended purpose, and they may never get a chance to sell it. 

Crowdsales are, by definition, unregulated by the federal government. This means that taking any action against a business that runs a crowdsale can prove very difficult. It's very much a 

Although crowdsales are unregulated, the definition of crowdsale remains largely up to bodies like the SEC. If the SEC decides that a crowdsale is actually an ICO, it can put both the business and investors in a tight spot. The business may face action for not filing the appropriate paperwork, while investors might discover they must scramble to make sure everything is in legal order on their end.

Crowdsale scams can prove more difficult to spot than more traditional scams. By design, crowdsales are often pre-public, which limits available information. While nothing can completely protect you from the possibility of a scam, there are some steps that can limit your vulnerability.

Do as much research as possible in advance. Find out as much as possible about the business or crowdsale project as you can. Did the business appear “overnight” two months ago? Is there any evidence that the business exists, beyond a website or social media presence? If the business looks to be fly-by-night, it's best to take a pass.

Deal with reputable platforms whenever possible. Reputable platforms typically perform some due diligence before approving a project for crowdsale.

Consider the sources of information about a crowdsale. As enthusiastic as a favorite celebrity is about a crypto crowdsale, they aren't any better informed about the pertinent information than the average investor. Whenever possible, seek out the thoughts or opinions of financial professionals.

Consider the plausibility of the claims from the business. Businesses will typically talk openly about how they plan on using the money they raise from the crowdsale, as well as how much they plan on expanding. Are the stated goals consistent with the amount the company seeks to raise? If not, it's likely a scam.

Who Is Best Suited to Participate in Crypto Crowdsale?

There is some gray area around this question. On the one hand, if someone knows about a crowdsale, there’s a decent chance that they have a working knowledge of the crypto world. On the other hand, they may simply have been told about it by someone they know.

Some general guidelines can help you decide if you're suited to crowdsales. Don’t invest money that would otherwise go into more traditional investments, such as IRAs, and don’t invest money that you can't afford to lose if the investment goes south. Crowdsales are best suited to those with experience investing in more traditional crypto opportunities.

Crypto crowdsales are an exciting option for crypto investors because they fall outside the rigidly regulated world of ICOs. The government doesn't treat them as securities, mainly because the coins or tokens only provide value as an internal business asset. Yet, there’s also a greater possibility of running across scams because of inexperience or an absence of information. For experienced crypto investors, however, crowdsales can offer an excellent way to get in on the ground floor of a new cryptocurrency.

Cryptocurrency Crowdsale: What Is It & How Does It Work?

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