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

sui name service (suins).png

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

Intro to Santiment.png

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.

market maker.png

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

4.png

SEC Chair Gary Gensler to Resign on Inauguration Day, Marking a Win for Crypto Lobby

Options

Designed to profit from different levels of volatility, the butterfly spread and its variations are suitable for intermediate/advanced traders.

long-call-butterfly-spread.png

short_call_butterfly_spread.gif

long-put-butterfly-spread.png

short-put-butterfly-spread.gif

iron-butterfly-spread.png

reverse-iron-butterfly-spread.gif

In options trading, the butterfly spread strategy is a neutral approach that profits from movement in either direction in the market. It’s structured to combine both bull and bear spreads, and comes with controlled risks and profit.

By default, the butterfly spread has four positions (either four calls or puts) and three strike prices with the same expiration date: One is 

, while the other two are below and above the ATM strike price, respectively. For example, if an 

, the lower strike price would be $1,150 − $150 = $1,000, and the upper strike price would be $1,150 + $150 = $1,300.

Different types of butterfly spreads arise from different combinations of put and call options, which determine whether the spread profits from low — or just enough — volatility. 

All margin requirements for options in the U.S. are regulated by 

, also known as Reg T. For long butterfly calls, all the options contained in it must be the same in terms of the underlying asset, the interval between prices, and the expiration date.

Basically, the long butterfly call comprises two short positions (call or put) of the same components (strike price, class, expiration date) bordered by a long position of the same class (call or put) at a higher strike price, and one long position of the same class with a lower strike price.

 refers to how much time decay affects the total value of a position. For every asset, the total value reduces in relation to the proximity of the expiration date (i.e., the closer a position gets to its expiration date, the lower its value becomes).

Time decay (or Theta) works against the long call butterfly spread and favors the short call butterfly spread. This means a long call has a negative theta (loses money with time decay), whereas a short call has a positive Theta (makes money with time decay).

However, the case becomes different for the long call if the asset price ranges between the higher and lower strike prices, and Theta becomes positive. If it moves out of range, Theta becomes negative as the time to expiration draws closer.

Since the actual volatility of an option can't be predicted before entering a position, the assumption or calculation of 

 became a consideration in options trading. Volatility shows how much an asset price fluctuates in terms of percentage. In options, as volatility increases, the price of an option rises with it when other factors are kept constant. 

 is the technical word that represents volatility.

Long options make money from an increase in volatility, while short options lose money when volatility increases. The reverse is the case when volatility reduces. 

For a long call butterfly spread, the long call rises (makes money) when volatility falls. When volatility increases, the long call falls (loses money). Therefore, the long call butterfly has a −Vega (negative Vega) and should only be bought when there's high volatility, with a bias for a subsequent decline.

There are different types of butterfly spreads. Some of the most common are:

The long call butterfly spread is achieved by combining four call options. You sell/write two ATM call options, buy one 

 call option at a higher strike price, and buy one in-the-money (ITM) call option with a lower strike price. You receive a debit when entering the positions (i.e., you incur the total cost in premium paid).

The long call butterfly spread comes in handy when the bias is a ranging or stagnant market. When there’s low volatility, an investor expects the underlying asset not to move much — or even at all. Profit is recorded when the underlying asset retains the ATM strike price at the time of expiration. 

The short call butterfly spread is also a combination of four calls, but this time in a reversed manner. You buy two ATM 

, sell one ITM call option with a lower strike price, and sell one OTM call option. You receive credit when entering the positions. Essentially, you get paid to open the positions. 

The short call butterfly spread is activated when there’s a bias for notable price movement due to high volatility. Profit is recorded if the underlying asset 1) closes above the upper strike price at the time of expiration, or 2) closes below the lower strike price at the time of expiration.

The opposite of the long call butterfly spread, the long put butterfly spread is a combination of four put options. You sell two ATM puts, and buy the other two at a lower and higher strike price, respectively. You also receive a debit when entering this position, and profit is recorded if the underlying asset remains ATM at the time of 

The short put butterfly spread is also the opposite of its twin, the short call. It involves buying two ATM puts, selling one ITM put at a higher strike price, and selling one OTM put at a lower strike price. Maximum profit is recorded if the underlying asset closes below the lower strike price, or above the higher strike price. 

Here’s how the iron butterfly spread is set up: 

The outcome of this combination is a trade that works well for low volatility. Maximum profit is recorded if the underlying asset remains at the middle strike price.

Here’s how the reverse iron butterfly spread is set up: 

This setup creates a debit that works best in highly volatile situations. Maximum profit is recorded when the underlying asset moves above the upper strike price, or below the lower strike price.

For a long or short call butterfly spread:

For a long or short put butterfly spread:

The butterfly options strategy combines a bull spread and a bear spread that converge at a middle strike price. The basic setup for a butterfly spread requires opening four positions:

This strategy is designed to help a trader profit from movement in either direction in the market — or no movement at all. Depending on the combination of options (either call or put), the strategy can benefit from both low and high volatility.

Who Is the Butterfly Spread Strategy For?

Due to its complexity, the butterfly spread strategy is best suited to intermediate/expert traders and investors. While it has a capped profit and limited risk attribute, strong technical knowledge is required to properly wield the butterfly options strategy.

Before considering butterfly options, traders first need to fully grasp 

 (Gamma, Theta, Vega, Rho) and other contributing factors. Sound understanding of the Greeks cannot be overemphasized, because there will be times the market changes direction from initial prediction, and live adjustments will be needed for the strategy to avoid maximum losses.

The butterfly spread is an advanced strategy because of the controlled risk and profit it offers. The long butterfly strategy is activated when there's a neutral or mildly bullish bias. It’s dependent on the difference between the asset price and the middle strike price, when the position is set up.

In a scenario where the asset price is very close to the middle strike price (or exactly the same with it when the position is activated), an investor's bias would be neutral. Likewise, if the asset price is below the middle strike price at activation, the investor's bias would be mildly bullish (i.e., the asset price should rise to the middle strike price at the time of expiration).

The long call butterfly spread records profit when the asset remains at the middle strike price or ATM strike price at the point of expiration. For breakeven, there are two points, since there are two spreads. Here's how to calculate them:

: Higher strike price for a long call or put = Strike price 

: Lower strike price for a long call or put = Strike price 

For a long call butterfly spread, the maximum profit potential is the difference between the middle strike price and the lower strike price 

 the premium paid (cost of opening the position + commissions). Recall that maximum profit is only recorded when the asset price remains at the middle strike price or ATM at the point of expiration. 

Although not impossible, it’s unlikely that you’ll obtain maximum returns with the butterfly spread strategy. A good percentage to take profit in the long call butterfly is 20–50% of the maximum profit.

One of the advantages of the butterfly spread strategy is its limited risk. Maximum loss potential is restricted to the total premium paid (i.e., the cost for opening the position + commissions). Loss can be incurred in two ways: If the asset price closes above the higher strike price or below the lower strike price at expiration, the other calls expire and the total premium paid is lost to the market.

 is currently trading at $1,150. If investors believe ETH will move slightly, or remain stagnant over the next couple of months, they’ll go for the long call butterfly spread to potentially profit from the stagnancy. The investor writes or sells two call options on ETH at a strike price of $1,150, and buys two other call options at $1,300 and $1,000.

In this assumption, the investor records maximum profit if ETH’s price remains at $1,150 at the time of expiration. If ETH closes above $1,300 or below $1,000, maximum loss is incurred. 

One important thing to additionally note is the premium paid. For example, if ETH closes between $1,300 and $1,150, a loss or profit could be recorded, depending on the premium paid. Let's take $50 as the premium paid to enter a trade. If the price closes between $1,200 and $1,100 (i.e., adding and subtracting the premium to both ends), the trade will record profit. Anything above or below these prices will incur a loss.

Bybit offers multiple cryptocurrency options. To trade 

As seen in the below snapshot, you can view all available options on the exchange. To get started, click on the option of your choice (currently, only 

 are available), fill in the quantity of crypto you want to purchase, and click on 

 along with their corresponding strike prices.

Click the call/put options you prefer, in order to enter the quantity of the crypto you want to trade, and then place your order.

Here are two tips to help you maximize profits from the butterfly spread strategy:

The butterfly spread options strategy has a better 

 strength against very large intraday volatility and large price movements than other options strategies.

Regardless of how protective a strategy is, there will always be risk involved. Here are some common risks associated with the butterfly spread strategy:

If what you seek as a trader is to profit from different market conditions and get paid constantly, then the butterfly options strategy could be your best bet. It offers a better hedge to market fluctuations and uncertainty. The only thing required is to apply this strategy with adequate understanding and discipline — so that outcomes can work in your favor.

Butterfly Spread: Stand to Profit With Limited Loss

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards