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

Wondering what's all the hype behind Solana NFTs? Give Magic Eden a visit and find out why it's the top Solana NFT marketplace.

The Magic Eden NFT marketplace has become a prominent digital space for the minting, buying and selling of NFTs. Built atop the Solana blockchain, the platform includes several user-friendly features that have been attracting a considerable number of traders. Eden Games is providing exciting options for gamers, while Magic Eden fees are refreshingly low.

If you’re curious to know more about Magic Eden, this is the article for you. We’ll learn how the platform stacks up with its competitors. Once we’ve compared Magic Eden to OpenSea and Solanart, you’ll be ready to make sound trading decisions.

Magic Eden is the largest NFT marketplace on the Solana blockchain. It allows traders to buy, sell, mint and manage tokens, and it includes a thriving secondary market.

Answering the question, “What is Magic Eden?” is only the beginning. We also need to understand how the Magic Eden NFT marketplace works.

Magic Eden is available both for launching new NFTs and trading on the secondary market. While the secondary market remains the more popular feature, recent launches have garnered significant attention. This trend suggests that Magic Eden could have a prosperous future as a place where NFTs are initially launched and then subsequently bought and sold.

The Magic Eden Launchpad is the component of the marketplace designed for minting new NFTs. The platform has been designed with user friendliness in mind, giving creators a simple, effective way to launch their projects. Before minting NFTs on the platform, creators must register with Magic Eden. Fewer than 5% of projects are accepted, ensuring that the Eden marketplace maintains high standards. This level of quality control allows traders to navigate the site with confidence. If an NFT is available for minting on Magic Eden, then it must be part of an exceptionally promising project.

 producers can also communicate with each other in a special creator community, exchanging ideas and supporting each other’s projects. This level of exchange produces a supportive environment where creators can thrive.

Magic Eden’s secondary marketplace includes many useful futures, making the platform a favorite for traders. A special page for popular collections presents options for curious buyers, letting them shop around and get a feel for different types of digital artwork. The 

 filter allows enthusiasts to search for the specific traits they’re looking for within a given collection. Magic Eden’s stats page is both detailed and user-friendly, allowing prospective buyers to analyze their options before making a purchase. By consciously improving the user experience, Magic Eden has made itself a dominant player on the Solana blockchain. Soon, it may become the major marketplace for NFTs across the crypto world.

To maintain high standards in its secondary marketplace, Magic Eden requires traders to apply for a listing before offering a token on the site. Once the application has been approved, the NFT can be bought and sold freely. This initial screening process helps traders maintain confidence in the legitimacy of the tokens available.

There’s no charge for applying for a listing on Magic Eden. All you have to do is fill out an online application form and wait for a representative to contact you with more information. Notice of acceptance or rejection should come in within two days. Once your listing has been approved, you can offer your tokens for sale on the site.

Magic Eden fees are widely hailed for being fair and reasonable. Its marketplace funds operations through a modest 2% transaction fee. Listing tokens on the site is free, and there’s no additional fee for making a bid. Most traders find this to be a favorable set of policies, and the relative affordability of the site has made it a favorite among NFT enthusiasts.

As a trading platform, Magic Eden respects the royalties set by creators. Buyers can view the royalty for each product on the token’s details page. The total payment for the royalty will be made immediately at the time of purchase.

The fairness of Magic Eden fees helps make the platform a popular choice for global traders. It’s also a principal concern when comparing Magic Eden to OpenSea and Solanart. If you want to trade tokens without wasting your crypto on fees, then Magic Eden NFT marketplace is a good place to carry out your transactions.

Magic Eden’s auction feature has been designed to benefit buyers and sellers alike. Buyers can use this feature to bid on a token, based on their own assessment of its value. Holders then receive an alert, and can then decide whether to accept or reject the bid. If the bid is rejected, the prospective buyer can raise their offer or move on. When a bid is accepted, the transaction goes through immediately.

For buyers, the auction feature gives them immediate access to all kinds of NFTs and the freedom to bid for them at their preferred buying range. Sellers, meanwhile, can take advantage of the feature to sell off their NFTs while incurring minimal sell fees. It’s ultimately this kind of user-friendly feature that’s made Magic Eden such a hit among traders.

In its few months of existence, the Magic Eden NFT marketplace has quickly become one of the web’s most popular spaces for NFT trading. While the crypto world in general has been struggling to overcome widespread economic volatility, Magic Eden has been steadily attracting more users and increasing the total number of transactions conducted on the site. This trend suggests that Magic Eden and Eden Games could cement themselves as lasting features of the web3 landscape.

 has attracted over 50,000 users. It also boasts over 500,000 individual transactions each day, with a daily trading volume that sometimes rises to $75 million. These statistics demonstrate the sheer power of Magic Eden as a prominent NFT marketplace.

You can see the rising popularity of the platform by comparing

 While OpenSea, a marketplace on the Ethereum blockchain, has long been the dominant force in NFT trading, Magic Eden surpassed its competitor in daily trading in May 2022.

There are several reasons for the rising popularity of the Magic Eden NFT marketplace. For one thing, the fairness of Magic Eden trading fees has attracted traders. Nobody likes to burn funds in additional fees, and Magic Eden lets traders use most of their funds on actual tokens. The Eden Games portion of the platform is also attracting users, giving gamers a place to enjoy games on the blockchain. Finally, a steady stream of popular launches has brought attention to the marketplace. NFTs like 

Now that we know what Magic Eden is, let’s look at how you can actually use the platform. Accessing the Magic Eden NFT marketplace is simple and easy, especially for prospective buyers. It’s also a straightforward process for sellers, but you’ll need to apply to list new tokens.

The first step is to make sure you have a Solana wallet. Magic Eden is built entirely on the Solana blockchain, so you’ll need SOL tokens to buy digital products. If you’ve got a Solana wallet, the next step is to connect it with the Magic Eden NFT marketplace. You can do this through the Magic Eden Launchpad on the marketplace’s website.

Once you’ve successfully connected your Solana wallet, you can access and take advantage of the marketplace’s many features. Not only can you mint new tokens or buy existing ones, but you can also conduct your own research, search for specific traits and look for entertainment with Eden Games. You can then make regular bids or try to purchase tokens through auctions, all while enjoying the reasonable Magic Eden fees.

Sellers also need to connect their wallets to the Magic Eden NFT marketplace, in addition to submitting an application for listing their tokens. The process is quick and easy, and you should know within two days whether or not you’ve been accepted to list your token on the site.

Next, let’s look at how Magic Eden compares to other marketplaces in the NFT space. From OpenSea to Solanart, this type of comparison is essential to understanding the nature of the NFT marketplace. After all, traders ultimately have to decide which platform they want to use for their transactions.

These sites are in direct competition with one another, so it helps to know how they stack up. Once you’ve learned a bit more about Magic Eden vs. OpenSea and other NFT marketplaces, you’ll have a better idea of where you’d like to spend your money.

As the Magic Eden NFT marketplace surges in popularity, many traders have been comparing it favorably with OpenSea. While Magic Eden has surpassed OpenSea in daily trading, OpenSea continues to attract more capital. With traders intrigued by the reasonable Magic Eden fees, the Solana-based upstart could continue to grow at OpenSea’s expense. In the quickly changing world of NFTs, there’s no telling what the future holds in the Magic Eden vs. Opensea debate.

One benefit of trading on Bybit is that the platform doesn’t charge any additional transaction fees. While Magic Eden fees are largely considered reasonable, some traders might prefer a platform with no fees at all.

Magic Eden vs. Solanart makes for an interesting comparison because both marketplaces exist on the Solana blockchain. While they offer similar services, a few key differences set them apart. For one thing, Magic Eden’s fees are much more favorable. The Magic Eden NFT marketplace charges a 2% transaction fee, while Solanart charges 3%. This seemingly minor discrepancy can end up having a major impact when traders are buying and selling exceptionally valuable tokens.

Magic Eden also boasts a much wider selection than its smaller competitor. The platform’s rising popularity has inspired creators to flock to the site. This, in turn, attracts a greater number of buyers. While Solanart remains an intriguing place for traders to do business, Magic Eden seems likely to remain the predominant marketplace on Solana.

Popular NFT Projects You Can Purchase on Magic Eden

Any marketplace is defined by the goods it houses, and the Magic Eden NFT marketplace is no expectation. Luckily for the platform's leaders, Magic Eden is the home of some of the world’s most popular NFT collections. Tokens like Okay Bears and Great Goats have risen to the forefront of the digital world, attracting traders to Magic Eden in the process. If you’re interested in buying art from any of these collections, then the Magic Eden NFT marketplace deserves your attention.

There are 8,888 Jikan Studios tokens available. With over 8,000 individual holders, the community is almost as large as it could be. There are currently over 600 tokens available on Magic Eden with a floor price of 3.4 SOL at this time of writing. While the financial future of the tokens remains unknown, they could make for a good purchase if you’re intrigued by the community.

Now that you understand what Magic Eden is, let’s discuss the platform’s future. The Magic Eden NFT marketplace gives traders an affordable way to mint, buy and sell NFTs. The reasonable Magic Eden fees have already attracted users, and the wide variety of popular tokens is only expanding. All of this suggests that Magic Eden could continue to grow.

When comparing how Magic Eden;s NFT platform compares with OpenSea, another prominent NFT marketplace, Magic Eden has already caught up to OpenSea in terms of daily trading. While its trade volume is still lagging, there are reasons to believe the Magic Eden NFT marketplace could soon catch up in that metric as well. After all, low transaction fees and popular collections are sure to attract more traders.

The NFT market is famously volatile, and there’s no way to know what the future holds. That being said, the Magic Eden NFT marketplace has plenty of factors in its favor. If you’re interested in buying and selling NFTs, then follow Magic Eden closely. It just might become the Wall Street of digital tokens.

Magic Eden is an NFT marketplace that’s built on the Solana blockchain. The platform is known for its 2% transaction fees and growing selection of interesting tokens. For Solana enthusiasts, Magic Eden is a breeding ground for the hottest Solana NFT projects that are taking off and building hype among the growing community. 

As Solana takes its place among the world’s most popular blockchains, the Magic Eden NFT marketplace figures to rapidly improve its standing. Okay Bears, Great Goats and Jikan Studios could be just the beginning of an emerging trend. For anyone interested in the future of NFTs, Magic Eden is clearly worthy of our attention.

What Is Magic Eden? — and Why It’s the Top Solana NFT Marketplace

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards