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

Blockchain

Altcoins

Flare is an EVM-based Layer 1 aiming to make blockchain more useful by providing decentralized access to high-integrity data from other chains and the internet. 

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vulnerable to security breaches and confidentiality issues. With the ever-growing amount of data being collected, stored and shared in a centralized manner, organizations risk losing control over their information.Flare is a revolutionary blockchain platform that aims to solve the issue of centralized data by connecting data across chains. Flare

 powers connectivity within the decentralized economy by providing developers with the tools and the tech stack to build the next generation of interoperable 

 that will allow assets, information and liquidity to flow freely between all chains.

Here's a closer look at Flare Network and its native FLR token.

 aiming to make blockchain more useful by providing decentralized access to high-integrity data from other chains and the internet. 

It is an interoperability-focused blockchain system built on a proof of stake (

) consensus mechanism. It has two core interoperability protocols – State Connector and the Flare Time Series Oracle.

 enables Flare to safely and trustlessly come to a consensus over an event that has occurred externally to the network, for example, a blockchain transaction between two parties or the content of an API on the internet. It is designed to integrate seamlessly with external blockchains, allowing developers to build DApps across chains freely.

 network that safely retrieves external time series data, such as digital asset price pairs, for use on Flare. It takes data at predetermined intervals from an independent network of data providers incentivized to deliver accurate data. FLR token holders can participate in the system by wrapping and then delegating their tokens to data providers. In return, they receive a share of the rewards. This mechanism further incentivizes the provision of accurate data, whereby the most successful data providers will attract the most delegations.

Flare Network is widely anticipated by decentralized finance (

) platforms — as well as crypto investors — because the types of data available on-chain currently constrain development of new use cases. 

To achieve greater real-world utility and adoption, DApps need access to an increased variety of data from blockchains like Flare.  

Previously known as Spark (FLR), Flare Network's native token is now referred to as Flare (FLR). FLR is created to maintain consistent usage costs, support the native data and interoperability protocols and facilitate a variety of use cases, including DeFi, 

The primary purpose of FLR is to prevent spam attacks via transaction fees. After all, if transactions were completely free of charge, users would be able to spam and congest Flare Network with pointless transactions.

FLR has several other uses besides spam control and payments within the Flare Network. When wrapped into WFLR, it achieves more programmable functions like collateral in DApps on Flare blockchains, delegation to the FTSO to support the delivery of decentralized data to the network and participation in governance.

Flare was set to be launched in phases. After over two years of development, Flare launched on Jul 14, 2022 as a soft beta on a private observation mode. By Sep 30, Flare Network had commenced its public observation mode.

Of the 100 billion genesis FLR tokens, 58.3%, or 58.3 billion FLR, are set aside for the community, with 28.5 billion of the 58.3% allocated to the direct public token distribution, also known as the FlareDrop Distribution. 

The first 15% of these public tokens, or 4.3 billion FLR, were successfully distributed on Jan 9, 2023 to wallets that held 

 during a snapshot completed in December 2020. The remaining 85%, or 24.2 billion FLR, will be made available on-chain, in a decentralized manner, to all wallets that hold Wrapped Flare (WFLR). Almost 700 million FLR will be proportionally shared by WFLR holders every 30 days for a total of 36 installments.

The airdrop is slowly being rolled out to ensure that users don't instantly sell all of their FLR tokens after receiving them (which would likely lead to a massive price drop).

While many XRP owners are interested in using Flare because of the utility created by these tokens, a small percentage of individuals are only looking to claim FLR because it’s essentially “free money.” Another step that’s been taken to mitigate the potential for adverse effects from the airdrop involves limiting the amount of liquidity available on the market at any given time. The lengthy unlock process naturally reduces total liquidity.

To ensure that glitches and other technical issues are kept to a minimum during the Flare Network launch, the reputable firm known as 

 performed a comprehensive audit, which began on May 16, 2022 and ended after the first week of June. On Jun 16, the results of the audit were announced. The audit found no significant defects or flaws that could negatively impact the network, allowing for a proper launch on Jul 14, 2022.

Flare is a larger project than was initially envisioned in 2020. Instead of serving a single community with a single utility, Flare’s protocols are designed to provide developers with the tools and the tech stack to build the next generation of interoperable DApps that will allow assets, information and liquidity to flow freely between all chains. By expanding their scope and performing additional research and engineering before the Flare launch, the Flare team was able to build something much more promising.

The latest Flare model offers advancements in cross-chain functionality with decentralized systems. Before now, token bridging was only possible by using systems that were mostly centralized. As such, token bridging was effectively a digital version of the standard banking model. Meanwhile, the fully decentralized options were considerably slower, which meant that investors were tasked with choosing between a sluggish system and an unsafe one.

Flare is designed to be an advanced network that features cross-chain interoperability. This system will facilitate a fully decentralized cross-chain future, which is considerably safer than the current alternative. Flare's open protocols allow developers to create many different kinds of interoperability solutions. Flare Network’s goal is to connect everything while still maintaining a decentralized system.

To make sure that the Flare ecosystem has the level of connectivity that it requires to grow and thrive immediately after launch, Flare is providing developers with a comprehensive incentive program, the Flare Ecosystem Grants Program, and has also developed a canary network, 

, for the testing of their products and protocols.

Flare and the FLR coin have already been met with optimism by the crypto community because of how the system works and what it will do for cross-chain interoperability. Once Flare is introduced, interoperability without any amount of centralization becomes possible. 

Flare's native interoperability protocols, the State Connector and the FTSO, are secured by the network itself. This allows Flare to reliably deliver data from multiple off-chain sources in a decentralized way. By incentivizing sets of independent providers to query, acquire and process data without relying on single, centralized sources, Flare’s core protocols can facilitate the development of a new generation of interoperable DApps with a broad range of potential innovative use cases. 

This network is designed to integrate EVM, a system that can convert 

 into a list of instructions that computers can properly read. As such, the network can run Turing-complete smart contracts. This term means that nearly every type of computational task can be run as long as the system has enough memory for the process.

Once the network is up and running, it will create a well-realized ecosystem of DApps, which ensures that smart contract networks can adequately scale.

FLR was released in the markets on Jan 10, 2023 at $0.04. FLR is considered to be an inflationary token as FTSO will pay out any newly minted FLR coins. Based on its original token distribution plan, the annual inflation is set at 10% each year of all FLR tokens.

However, Flare initiated a governance proposal regarding its token distribution, the 

 proposal, to reduce both short-term and long-term inflation. Now the proposal has passed, the inflation will be adjusted to 10% of circulating supply in year 1, 7% in year 2, and 5% in year 3 onward, capped at 5 billion FLR tokens per year. 70% of the tokens are allocated to its FTSO rewards, 20% to its validator rewards, and 10% to the default Attestation Provider Set of the State Connector

Flare has created an extensive road map, which begins with the network's main launch as well as the distribution of the first 15% of FLR coins. The next phase of development involves the FIP.01 proposal as mentioned above. The purpose of this proposal is not merely to improve the long-term economics of the token. There are many added benefits, such as increasing incentives for users to engage with Flare Network, eradicating the risk of an exchange not passing on token distributions, and better token liquidity management.

Since Flare's FLR tokens already have strong connections to established cryptocurrencies, so you can be confident in investing in FLR. The many benefits of investing in FLR tokens include:

FLR is available on multiple popular exchanges, including Bybit. Bybit is among the top exchanges today, and it has a hassle-free trading experience for its users. To get started with trading the 

 on Bybit, simply create a Bybit account and fund it with USDT.

In general, it's impossible to predict Flare’s token price over the next few years. However, Flare's structure means that the FLR coin should be relatively consistent. FLR is comparable to other Layer 1 coins like 

Looking specifically at ETH, it had consistent growth in the first few years that it was on the market and increased rapidly at the beginning of 2021. FLR is likely to have a similar trajectory, which means that the coin's market cap should grow at a steady rate over the next few years.

We hope that our guide to Flare has helped you understand what it is — and how its native FLR tokens further advance the industry and provide other networks with the opportunity to achieve fully decentralized cross-chain interoperability.

Flare Network (FLR): A Layer -1 for Decentralized Data

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