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

Explainers

Altcoins

Jupiter is a decentralized crypto exchange based on the Solana ecosystem that aims to replace centralized exchanges with a more streamlined system. Learn more.

Skinny_Banner-1600x400.webp

Crypto traders are constantly looking for the best exchange with the lowest fees, so it's no surprise that exchanges are one of the most popular types of crypto startups. One new system worth exploring is Jupiter Station. This blockchain-based exchange's motto is "Best Price, Best UX, Best Tokens," and it's already attracted a lot of interest. 

To learn more about Jupiter Station and see how the exchange works, read this helpful guide.

 is a decentralized cryptocurrency exchange (

 ecosystem. It aims to replace centralized exchanges (

) with a more streamlined system that prioritizes trader experiences.

The Jupiter team is shrouded in mystery. They don’t share a lot about their backgrounds, investors or development history. However, even though they don't provide many personal details, they do have extensive documentation for their project. Their white papers and blogs share their years of work on the project. Ultimately, the main thing you need to know about the history of Jupiter is that its development team comprises passionate Solana fans with extensive histories of working with crypto exchanges.

The Jupiter exchange is part of a new wave of decentralized finance (

) development. Unlike many past projects, its team isn’t focused on creating a big ecosystem with several different services. Instead, Jupiter's plan is to pick one thing and do it very well. The team’s focus is on being a swap aggregator that allows people to make decentralized crypto trades.

Jupiter also hopes to prove the usefulness of the Solana blockchain. The exchange's developers chose to build on the Solana blockchain as a way of supporting the Solana token ecosystem. Not only does this decision help to promote Solana, but it's also allowed Jupiter to turn many members of the Solana community into dedicated Jupiter users.

Jupiter users can access the program through either the Jupiter Station website or through the Jupiter app. Whichever option you pick, the interface connects you to a network of 

 built on the Solana ecosystem. These contracts manage things such as wallet connections and cryptocurrency token trades. 

The Jupiter exchange also works with many other developers. Altogether, Jupiter has five different APIs, including one for 

. People can access Jupiter directly, but it also works as a third-party service provider. Other developers can choose to integrate Jupiter into their own projects and get assistance with managing token swaps.

There are many reasons people think Jupiter is one of the best new ecosystems available, and its DeFi exchange comes with a lot of exciting features.

 lets people trade between a variety of tokens. To use this feature, you browse the marketplace, find tokens at your desired price and arrange a swap. For example, you could swap a Solana token for the equivalent amount of USDC tokens. The swap system is set up to minimize fees and reduce 

. It allows users to customize a variety of settings, such as routing methods.

, Jupiter users have the ability to somewhat automate token sales. You can set a price at which you want to buy a token, and the order is automatically fulfilled when the rate is present. This ensures users don't miss out when a desired token reaches an affordable price.

) is another convenient way of automating purchases through the Jupiter exchange. With DCA, users can set up trades to occur at regular intervals over a specified period of time. This essentially allows you to buy or sell large amounts without being greatly affected by market fluctuations. Instead of timing the market, you just trade at regular intervals to get a more regular return.

Jupiter's swap services also make it possible to bridge tokens. By swapping tokens between chains, you can transfer assets easily from one chain to another. The ability to bridge tokens is especially useful for developers working with Jupiter.

Jupiter provides users with a perpetual exchange on Solana. This new ecosystem transfers tokens from 

 to the trader, so it’s very useful for maintaining market stability. It also offers up to 100 times 

The Jupiter Liquidity Provider (JLP) Pool is how the exchange facilitates trades. Users can choose to provide tokens for the liquidity pool if desired. This temporarily locks tokens while they're used for swaps, and in exchange, liquidity providers earn fees from users.

To help facilitate exchanges, Jupiter features the 

. This Solana yield-bearing stablecoin is based on the United States dollar. It can help with things like providing collateral for interest-free loans.

Jupiter also recently released a token called JUP to help them with governance. To celebrate its token launch, Jupiter will be conducting a community airdrop on Jan 31, 2024 to give coins to Jupiter users who have participated in the community in some way. All users who have an account with Jupiter will receive 

 during the token launch. People who've had at least $10 worth of coins on the platform, or who made at least 10 transactions on the platform before March 2022, will also receive an additional 500 tokens in the JUP airdrop.

Claiming coins during the token launch is as easy as going to the

. Once you log in, the community airdrop will determine how many free tokens you’re eligible for. Some users have received upward of 100,000 JUP tokens for all of their community participation.

 coins and increasing security for the platform. In the future, Jupiter's road map will be greatly influenced by both the Jupiter and Solana communities. People who hold JUP tokens can vote on new proposals. This is likely to result in additional popular cryptos being listed on the exchange. Future plans users have discussed also include more support for developers working on Jupiter, and another upcoming airdrop to encourage community engagement.

The JUP governance token is still in the middle of its distribution. Many of these tokens are currently locked, and the upcoming airdrop and launch will be decided by a vote from the Jupiter DAO. Jupiter will have a total supply of 3 billion coins, and after the new wave of airdrops, it will have around 1 billion coins in circulation. 

The planned token distribution for JUP was originally split into three parts, with 40% each for community growth, another 40% reserved for the Jupiter team and a further strategic reserve, and 20% going into a locked token sale. However, in a 

, the team has decided to split tokens equally between the community and the team.

Looking to trade Jupiter tokens? Bybit now offers the JUP/USDT Spot trading pair! To get started, you’ll first need to create a Bybit account, fund it with cryptocurrency and navigate to the 

To celebrate this listing, Bybit is holding an exclusive event where you can earn a share of the 48,000 USDT prize pool! 

. The first 2,150 new users who complete the following two steps between Jan 30, 2024, 10AM UTC and Feb 13, 2024, 11:59PM UTC will receive 20 USDT each:

If you’re already a Bybit user (prior to Jan 30, 2024, 10AM UTC), no worries — because you can still earn 5 USDT! Simply accumulate a deposit volume of at least 100 USDT worth of JUP, or deposit 100 USDT and buy at least 100 USDT worth of JUP using your Bybit account. Please note that rewards will be distributed on a first-come, first-served basis to the first 1,000 users.

Jupiter Station has managed to attract a lot of dedicated fans. It's one of the most popular exchanges on Solana, and its dedicated community means there’s a lot of demand for the Jupiter governance token. Crypto investors who like finding promising companies to invest in may want to buy some JUP. Don't forget, however, that this token has yet to be released, and volatility is certainly expected when it does. Investors need to remain cautious and use appropriate strategies for 

The Jupiter centralized exchange is one of the most promising exchanges on Solana. It's captured a lot of fans due to its convenient interface and low feeds. This popularity has also resulted in plenty of positive attention for the JUP token. If you're interested in investing in the next big thing, JUP may be an exciting opportunity.

Jupiter (JUP): Redefining DeFi With Solana's Efficiency

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards