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

Options

The straddle is a terrific options trading strategy for traders of all levels. We take a look at their key characteristics, tips to help you profit and more.

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 strategies is that you can be undecided about going bullish or bearish on your latest crypto options trade and still profit. This is thanks to the potential rise in implied volatility (IV) that comes from an impending catalyst that may cause a larger-than-expected move in the price of the coin or token. Interested in learning about such options strategies that let you play both sides? 

Enter the straddle strategy — a neutral options scheme that lets traders leverage on upcoming volatility and earn a tidy profit, regardless of whether the overall price goes up or down. From the setting up of a straddle options strategy to referencing an example of executing the straddle strategy in the crypto market, here’s all you need to know when it comes to unraveling the secrets of making a profit with long and short straddles in the crypto options market.

There are two types of straddle strategies for crypto options traders to choose from:

To initiate a long straddle, you buy a call option and a put option with the same strike price and expiration date. For the strategy to make money at expiration, the price of the underlying asset must deviate from the strikes (in either direction) by an amount greater than the total premium you’ve paid.

For a short straddle, the opposite applies. Here, you sell a put and call with the same strike price and expiration date. To profit at expiration with this approach, the underlying asset must not deviate from the strikes by more than the total amount of premium collected.

Before even diving into executing straddles, it’s crucial to first understand what drives the premiums of options contracts besides 

 (IV) effectively represents the amount of uncertainty or risk in the market for a particular asset. Implied volatility is derived from option prices themselves by measuring the expected market price movements in an options contract. It indicates how much a trader believes an asset will move over the life of the option, which helps them to decide whether buying or writing an options contract is optimal when executing a straddle options strategy. 

Traders expecting more price movement in the near term should execute a long straddle strategy, since they expect the price of the option to appreciate closer to the catalyst. Conversely, options traders expecting less volatility in price should write a short straddle strategy, as they expect contract prices to be less volatile closer to expiration.

Whether it’s a long or short position, three things apply when setting up a straddle:

Let's see how a long straddle strategy can be used to profit from growing volatility across various coins and tokens.

Let’s take a hypothetical scenario: In two weeks' time, a major blockchain upgrade is taking place on Ethereum’s network, and all the major social media websites are talking about it. You predict it could result in a major price move for ETH, but you’re unsure in which direction. Taking all of this into account, a long straddle options strategy might help you profit.

This example uses at-the-money (ATM) strikes (equal to the underlying security's price). 

, out-of-the-money (OTM) strikes can be implemented to give the trade a bullish or bearish bias. The combined cost of this strategy is a net debit of 0.0714 ETH, which adds up to about $114.24. This also acts as the maximum potential loss for this long straddle options strategy.

For this trade to be profitable, ETH’s price must be above $1,714.24 (call strike + total premium paid) or below $1,485.76 (put strike − total premium) at expiration.

The payoff diagram below features an example of stock prices and illustrates the long straddle's risk profile at expiration. You'll notice the maximum loss occurs when the asset expires equal to the long strikes.

Thanks to the neutral nature of long straddle strategies, options traders have the potential to profit on both the upside and downside as long as ETH’s price moves more than accounted for with the option contract’s IV.

Let's see how a short straddle strategy can be used for coins and tokens to profit from volatility that’s expected to fall over time.

Using Ether as an example again, let’s see how we can benefit from a short straddle and from writing the same call and put contracts. 

In this case, if you don’t expect ETH to move much in terms of price, and expect the volatility to fizzle out over time, then it makes sense to write call and put contracts to open a short straddle options strategy. This effectively lets you take advantage of the high volatility of the options contracts and write the contracts at a high premium, while expecting the price of ETH to remain flat in spite of the major blockchain network upgrade.

The combined premium credit to be received from this strategy is a net of 0.0714 ETH, which adds up to about $114.24. This also acts as the maximum potential gain for this short straddle options strategy.

For this trade to be profitable at the date of expiration, ETH’s price must stay within $1,714.24 (call strike + total premium paid) and $1,485.76 (put strike − total premium).

Unlike the long straddle, which has limited risk (premium paid), the short straddle has limited profit potential (premium received) and significant risk.

The payoff diagram below depicts a short straddle achieving maximum profit when both strikes expire ATM. There’s unlimited loss potential on the upside, and significant loss potential on the downside.

 share many similarities. They’re both price-neutral and structured to benefit from changes in IV. However, while a straddle uses ATM strikes, a 

For a long strangle, you purchase an OTM put option and an OTM call option on the same underlying asset, with the same expiration date.

Like the long straddle, a long strangle benefits when volatility increases. The key difference between the two is that by using OTM strikes, you need a larger move in the underlying asset for the strangle to turn a profit. The payoff is that, all things equal, two OTM options should cost less than two ATM options.

Like the long straddle, a long strangle is low-risk (total premium), with unlimited profit potential on the upside and considerable potential gains on the downside.

The payoff diagram below shows the trade is unprofitable in a wider range than the straddle, becoming profitable when the underlying asset price moves beyond either strike by more than the total premium cost.

A short strangle, pictured below, is a mirror image of the long strangle strategy. While you collect a lower amount of premium by selling OTM options, the range where the trade is in profit is wider than when selling a straddle.

Because the long straddle is a low-risk strategy, it's appropriate for investors of all levels of experience. In contrast, the short straddle is better suited to experienced traders with a high tolerance for risk. This is because of the risk of unlimited loss that may occur when the price of the underlying asset veers too much in either direction, such that the options premiums received are unable to compensate for the price volatility.

The best time to employ a straddle is when you expect volatility to rise and the underlying asset to record a “sufficiently large” movement (by more than the amount of premium received).

Options traders often use the straddle to coincide with potential market-moving events, such as economic data releases and regulatory hearings, or simply when their technical analysis forecasts an impending breakout.

Both long and short straddles have two possible breakeven points at expiration — when the market settles in either direction, equal to the amount of premium either paid or received.

A long BTC straddle centered at the $20,000 strike price, with a combined premium cost of $1,000, will break even at either $19,000 or $21,000 on the expiration date. At both levels, the trade neither makes nor loses money (strike price − settlement price +/− premium paid).

A short straddle centered at the $20,000 strike price generating $1,000 in premium also breaks even at $19,000 or $21,000 (strike price − settlement price +/− premium received).

The sweet spot for a short straddle is when the options expire with the underlying price equal to the strikes. Using the above example, the sweet spot is $20,000 at expiration. Because both options are ATM, they expire worthless and you get to keep the entire premium.

As mentioned earlier, the straddle is designed to profit from both bullish and bearish markets. However, you can modify the strategy if your market view changes during the trading process. Here, we look at two ways you can switch the strategy from price-neutral (horizontal) to directional (diagonal).

Removing the long call converts the straddle into a bearish 

 Although the risk remains limited (put premium +/− the cost of closing the call), the trade now has a bearish bias and doesn't profit if the underlying asset moves above the long call's breakeven price.

Selling the long put flips the straddle to a bullish 

. Similar to removing the put option, the trade's risk is limited (call premium +/− the cost of closing the put), but no longer profits if the market moves below the closed long put's breakeven point.

Here are three strategies to increase the likelihood of a long straddle turning profitable:

One of the straddle's key advantages is its minimal margin requirement. Because the most it can lose is the cost of entry, there’s no need for further margin once you’ve paid the initial net debit.

In contrast, the margin requirement for a short strangle is considerably higher. That being said, Bybit traders with a minimum account balance of 1,000 USDC can choose to activate 

Portfolio Margin mode uses a risk-based approach similar to 

(SPAN) to determine the overall risk level of a crypto portfolio. Using this method, long and short exposures are netted against each other, thus reducing margin requirements for hedged portfolios. For this reason, an existing long or short position may reduce the margin requirement for a short straddle applied to the same underlying asset.

As we’ve explained, options premiums lose value (erode) over time. However, time decay isn't constant, and changes while the contract is active. The measure for gauging how much a premium will lose each day is 

Theta measures a premium's sensitivity to time. Because theta always reflects the amount by which an option will decline, it's always denoted as a negative number. For instance, all things being equal, a 

 valued at $100.00 with a theta of −0.5 will be worth $99.50 the following day, whereas if the option had a theta of −0.9 it would be worth $99.10 the following day.

The theta curve below demonstrates that time decay is not linear. Since there’s less time for the option to realize or increase in value, the rate of erosion accelerates as the expiration date approaches.

Is the Straddle Options Strategy Worth Trying?

Based on the cases and examples presented above, running straddle options strategies can help traders take advantage of volatile markets. However, there are pros and cons to consider before executing the strategy. On the plus side, the straddle strategy helps traders profit if they grasp the concept of implied volatility without forcing them to pick a side, since the strategy is price-neutral. This may be useful in situations where the trader anticipates a large movement in price direction, but is unsure of which way it will go.

Conversely, it can be difficult to gauge how profitable a straddle options strategy will be since the asset must move significantly for it to be profitable for traders executing a long straddle. Additionally, for those writing a short straddle options strategy, there’s always a risk of unlimited losses if the asset’s price moves more than expected in either direction. 

All in all, we believe straddle strategies are certainly worth attempting, since they’re a tool that both experienced and beginning options traders can employ. This recommendation is based on the assumption that traders fully grasp options Greeks, and the effects of implied volatility.

Ultimately, long strangles and straddles are excellent, risk-averse strategies that you can use to profit from changes in implied volatility. As both methods are easy to apply, they can be used by less experienced traders looking for big returns. 

Short strangles and straddles, on the other hand, are appropriate for more experienced traders, or those with a higher tolerance for risk who can mitigate it.

If you're still unsure whether straddles or strangles are right for you, take a look at 

 free educational tools to discover more about the benefits of 

Straddle Options Strategy: How to Consistently Make Profits

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards