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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Crypto

Altcoins

Explainers

Ice is a decentralized crypto mining protocol based on community engagement and smartphone usage. Learn more about how it works in this article.

As more people rely on their smartphones, the crypto community has started to expand beyond PC mining. The Ice network is part of a new generation of mobile mining apps. It aims to promote a decentralized future by allowing every person to turn their smartphone into a 

. Though this idea is certainly promising, the Ice project has also faced some controversy. Explore this guide to learn all about Ice, determine whether it's a scam and decide whether it's right for your investment portfolio.

 protocol based on community engagement and smartphone usage. Each user can run the Ice app on their Android or iOS device to mine free crypto tokens that they can then trade or store.

Since it first launched its product in July 2023, Ice has been consistently committed to anonymity. It hasn’t released any details about who designed the system or who invested in the protocol. According to Ice social media accounts, this anonymity is meant to ensure safety and privacy for the Ice team.

However, Ice's website does mention some details about the people behind the project, asserting that its team comprises 

. This team has reportedly been working for almost two years on designing Ice’s system of decentralized applications (

At first glance, Ice's main aim may appear to be the creation of a digital currency that can be mined on smartphones. This certainly is part of its goal, as it hopes to encourage users to mine crypto even if they don’t have expensive personal computers with pricey CPUs. By turning to smartphones for crypto mining, Ice hopes to democratize crypto and engage more users.

However, Ice has an even bigger goal: to eventually prove the usefulness of crypto. By putting crypto mining on smartphones, Ice plans to demonstrate the flexibility of crypto — and to show that even crypto mined in the strangest of ways can still have value.

The basic process for using Ice is fairly straightforward. Every existing Ice member can send out a referral code to their friends to download Ice. Every 24 hours, Ice miners tap a button on their mobile device to mine tokens during a daily mining session. People can mine with friends to earn a 25% bonus rate during their daily session, and the tokens accumulate in a wallet connected to their account.

). Its blockchain is called the Ice Open Network (ION), and helps to manage all contracts and keep track of tokens on Ice. Ice's method of mining relies on a proof of stake (

) consensus mechanism. This algorithmic method doesn’t require excessive computing power from your phone, and is more energy efficient.

Ice's crypto mining protocol comes with a variety of different features, which users can access through Ice’s network.

Each existing member who starts mining on the Ice network joins the ION blockchain. This network offers a decentralized space for processing transactions and storing information, and uses the underlying security of TON to help keep transactions secure.

One of the developing solutions that the Ice network is currently working on is self-sovereignty. IceID is designed to put each user in charge of their own identity. It uses 

 to ensure security while also providing users with privacy.

Like many other DApps, the ICE network hopes to provide users with socialization opportunities. In addition to earning coins, members can also find ways to interact. IceConnect hopes to provide users with routing techniques that encrypt messages. It's also committed to avoiding censorship, and to allowing unlimited self-expression.

IceNet is a scaling solution that helps the network run more smoothly. It caches all public content sent on the network without saving any private data. This ensures that things like meme images or YouTube videos are sent quickly while private user info remains decentralized.

IceVault provides members with access to decentralized file storage. It uses encrypted fragments of files over a vast node network, so data is secure yet easily retrievable. The Ice network also uses cryptographic algorithms to provide extra security for data.

IceQuery reimagines databases as state machines. This design processes transactions in a deterministic order, while also incorporating database hashing and a Byzantine fault-tolerant consensus algorithm. All of these features combine to create a database fit for the decentralized future. It allows people to store and seamlessly retrieve information without dealing with the downsides of centralization.

Ice plans on having a decentralized governance system that puts power into the hands of its users. The ICE digital currency retains some value as a voting token that people can use to make their voice heard. Users can submit proposals and vote on the direction they’d like the Ice network to take.

. Its team has built the basic blockchain framework for their system and done a limited public launch that only allows users with a referral code. For the rest of 2024, the Ice network’s hope is to build its community and acquire more users. Through activities and events, Ice plans to encourage more engagement on the network.

After that, Ice's next step is its mainnet launch. This will allow more people to join Ice, and will also bring more functionality to the network. Ice hopes to add features that include digital currency trading, payment processing and user communication. People will also finally be able to send and receive ICE starting sometime around October 2024.

ICE, the native crypto token of Ice, is used for interacting with the Ice network. It has a fluid supply, and each ICE coin can be broken into a billion small units called “flakes.” ICE has a simple 

: Fifty percent of all ICE tokens are allocated to community mining, 35% go to the ICE team and 15% of the new digital currency is reserved in a community pool for further development.

Since its release, ICE has encountered a fair amount of 

. There have been quite a few X (formerly Twitter) posts suggesting the network is a scam, due to both the lack of transparency about its creators and some issues with the project itself. Some internet sleuths believe that the app has connections to certain servers that have spread malware in the past. People are also concerned that Ice is requiring users to provide access to their phones, yet it still hasn't assigned any value to its tokens. However, others maintain that these rumors are being spread by ICE's disgruntled competitors.

Overall, it's hard to tell which online discussions are accurate, and even more concerningly, the token also has no real-world applications so far. People can mine it, but the Ice network doesn't support trading, staking or voting with the token as of yet. Digital currencies retain far less value when they're used for nothing besides speculation. 

There's a small chance that ICE might attract a lot of interest, release exciting new features and skyrocket in price once it's released on exchanges. However, this is looking unlikely. Any investors who want to take a chance on ICE need to 

Ice's mission to bring mobile mining to smartphone users is certainly exciting. The project's development team seems committed to developing solutions for miners who don't have computers. However, Ice hasn't yet delivered on the real-world applications it's promised, and some users worry it might be a scam. Though this project seems encouraging, investors need to approach it with caution.

Ice (ICE): Transforming Mobile Mining in Crypto

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards