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

DeFi

web3

Affordable, secure and efficient, the blockchain protocol Loopring and its token LRC have been the talk of the (crypto town) recently. Find out why.

Loopring, a blockchain protocol which offers high levels of security in a decentralized format, aims to provide users with security and better performance while offering low fees and high speeds to facilitate trading, swapping, payments and the provision of liquidity. Supposedly, Loopring can perform over 2,000 

 … but is it really worth buying? Read this article to learn more about Loopring and its native token, LRC.

Loopring is built upon the highly secure 

, AKA the “hub” of the crypto market. The protocol was initially deployed in December 2019 on the Ethereum mainnet. 

, who is currently the CEO of Loopring Foundation. It aims to combine centralized order matching with decentralized on-blockchain order settlement into a hybridized product.

Typically, centralized crypto exchanges have more liquidity to offer, with multiple users buying and selling on-demand assets. Decentralized exchanges, on the other hand, tend to have lower liquidity levels as order matching doesn’t take place as quickly. Loopring combines the best of both worlds.

 (ICO) in August 2017, LRC is the Ethereum-based 

The Loopring platform is described as “open-sourced, audited, and noncustodial.” It offers users the ability to build noncustodial, order book-based exchanges on Ethereum by leveraging 

 proofs. LRC is necessary for key operations on the protocol, and it also helps to incentivize the correct use of the Loopring network. Exchange operators who deposit LRC can also have deposits confiscated by the protocol if the exchanges are operated poorly. These confiscated funds are then distributed to users who lock up LRC.

Loopring is a payment application that’s also known as “the world's first Ethereum smart wallet.” It’s managed by a smart contract, as opposed to a 

). Loopring integrates cutting-edge cryptography into its platform and ZK-Rollups, which are proposed ways to make the Ethereum blockchain more suitable for decentralized finance (

) applications. DeFi applications enable users to engage in crypto trading without using a centralized exchange.

Ethereum, the blockchain Loopring is built upon, is often plagued by slow speeds and high fees. To avoid congestion, Loopring integrates a data link layer (Layer 2, or L2) into its protocol. With L2, users can instantly send Ethereum or ERC20 tokens to any Ethereum address. The data link layer serves as a protocol which transfers data between 

 on a network segment across the physical layer. Loopring also checks their assets' security by choosing their trusted third party as the guardian. While using 

The Loopring protocol is dependent on ring miners to fulfill the given tasks. Ring miners and order rings help execute orders in exchange for rewards. Miners receive rewards in the form of traders’ fees or margins placed for orders.

LRC is used to pay fees on L2 zero-knowledge roll-ups (ZK-Rollups) while maintaining the blockchain's security. Apart from supporting both 

 (AMMs) and an order book exchange model, it also provides a payment system developed on the Loopring protocol. This trading platform lets users exchange digital assets such as 

The Loopring exchange platform authorizes protocols, creates orders, mixes and matches orders (ring mining), verifies orders, and processes settlement. LRC can be earned via ring mining. The protocol can match a maximum of 16 orders for various cryptocurrencies in a circular trade, called an order ring. Ring miners and order rings help execute orders in exchange for rewards. 

Nodes on the Loopring network are rewarded in LRC tokens that combine the individual orders into order rings to maintain public order books and trade history; and, in some cases, to broadcast orders to other relays. The Loopring relayer looks after the off-chain 

, creates roll-up blocks, and sends data to the Ethereum network.

Loopring combines elements from both centralized and decentralized cryptocurrency exchanges to create a protocol with a set of unique advantages that eliminates inefficiencies. It offers a 

 (DEX) which, instead of holding user funds in custody and processing trades internally, helps buy and sell orders that connect directly with each other and settles the trades on a public blockchain.

Loopring, a ZK-Rollup protocol, combines Ethereum smart contracts and zero-knowledge (ZK) circuits to make scalable and secure DEXs and automated market makers (

). The first protocol deployed on the Ethereum network was the ZK-Rollup, marking the beginning of the L2 scaling era. The Loopring protocol lets you build and run its ZK-Rollups and products.

ZK-Rollups have the advantage of operating on a known form of cryptography called 

. This technique lets a computer program claim data without sharing any identifying information. ZK-Rollups are also able to bundle hundreds of transfers into a single transaction. This enables fast and inexpensive trades to occur outside the Ethereum blockchain. Subsequently, these transactions are then settled on the blockchain itself, where zero-knowledge proofs are used to confirm the accuracy of 

To begin trading on Loopring, you need to send funds to a 

 managed by the Loopring protocol. Thereafter, the Loopring exchange moves the computation required to complete trades off of the main Ethereum blockchain, including information such as your order history and account balance. Loopring will then settle transactions on the Ethereum blockchain to finalize trades between users first matched off-chain. This technique results in reduced cost and increased speed for Loopring to reputedly perform over 2,000 

Each of these batches of transactions will then be added to the Ethereum blockchain with zero-knowledge proofs to allow anyone to reconstruct the transactions that have happened off-chain. By using this method, the transactions are confirmed as being genuine, and not tampered with by unauthorized parties.

 is $1.16, with a 24-hour trading volume of about $1 trillion. LRC has a live market cap of $1.5 trillion, a circulating supply of 1.33 billion LRC and a maximum supply of 1.37 billion LRC. The issuance of LRC tokens is governed by the smart contracts that make up the Loopring protocol.

. This rise was perceived as the market's reaction to a rumor of Loopring partnering with 

Loopring has an advantage over alternative blockchain protocols because of the novel cryptography it uses. This is of interest to investors who look for access to a wide range of projects built on the Ethereum blockchain, because they use decentralization for data management. This use of blockchain technology to theoretically hand control back to the user forms the basis of the Ethereum network. A DEX offers removal of the custodial and transparency risks, and Loopring increases the efficiency of order execution and enhances the liquidity of DEXs.

DEXs have problems that persist in performance and structural limitations. This can affect the extent to which LRC achieves widespread adoption. The effects of fragmented 

 can cause issues if DEXs don’t employ consistent standards to interoperate, and if orders aren’t shared/propagated across a wide network. 

Another disadvantage is that since blockchain order books are public, the transaction to place an order is visible by miners as it awaits being mined into the next block and placed into an order book. This could cause delay and expose the user to the risk of being 

 and having the price or execution move against them.

Cryptocurrencies can be considered high-risk assets due to their 

. However, Loopring looks like a promising project because it’s constantly being developed and updated. According to 

, LRC’s price is expected to reach $5.20 by November 2022, $8.19 by November 2025, and $16.47 by November 2028. (

 Before investing in LRC, please do your research and familiarize yourself with the risks involved.)

 such as Bybit. After creating an account on these exchanges, you can buy LRC using payment methods such as credit or debit card. On Bybit, LRC cannot be acquired directly — you will need to purchase 

Loopring’s price fluctuates tremendously, with the number of miners involved playing a major role in the amount of profit generated. The hardware most suitable for 

 is the application-specific integrated circuit (

). An ASIC miner is a hardware device that uses microprocessors for mining digital currency. If mining for LRC is done through a computer, a GPU won't generate a large turnout. Mining difficulty increases with growth in the number of miners, and an increase in demand for a larger 

, which refers to the amount of computing power provided for mining new blocks.

Backed by a vast community, the Loopring protocol is constantly evolving and deploying new features. For a crypto space struggling with high transaction fees and low scaling rates, the Loopring protocol has the potential to radically transform the way future DEXs are developed … and we’re here for the ride.

Loopring (LRC): A Beginner's Guide

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards