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

Stablecoin

Explainers

Altcoins

Alloy by Tether is a type of tethered asset linked to the Tether Gold stablecoin. Learn more about how it works in this article.

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 might seem straightforward, but there’s still a lot of innovation and growth in the industry. Alloy by Tether is an extremely promising new development. By allowing people to mint synthetic stablecoins, Alloy by Tether creates opportunities for profitable activities such as lending. Explore this guide to learn all the details about how Alloy by Tether works, and what makes it different from other stablecoins. 

 is a type of tethered asset linked to the 

 stablecoin. Users deposit Tether Gold as collateral, and then mint aUSDT, which mimics the value of the United States dollar. This creates a synthetic, gold-backed dollar that people can use to manage purchases, loans and investments.

 is a type of cryptocurrency whose price is tied to another asset. Unlike regular cryptos, a tethered asset’s price doesn't change based on how much buyers are willing to pay. Instead of following supply and demand, a tethered asset's price changes based on the value of one or more other assets.

What Does Alloy by Tether Aim to Achieve?

Alloy by Tether is part of the Tether organization's ongoing mission to provide usable crypto. Tether believes that the inherent value of crypto has made it far less usable. Many investors won't use their crypto for digital payments because they fear the idea of giving away assets that might skyrocket in price in the next week. 

Alloy by Tether hopes to solve this issue by providing a synthetic stand-in for the Tether Gold cryptocurrency. The synthetic dollars that people mint can easily be used for 

 applications, but they still maintain ownership over their initial Tether Gold tokens. Alloy by Tether believes that its new system can make cryptocurrency far more usable for online purchases and other digital payments. 

At its most basic level, Alloy by Tether is simply an 

 token with its value set by its parent company. Though the 

 side of things is simple, this crypto still uses some complicated mechanics. In order to set a fair price and provide users with effective services, Alloy by Tether uses the following operational principles.

Overcollateralization is the key to creating synthetic tethered assets that still retain value. When a person wants to mint Alloy by Tether digital assets for their own use, they first lock Tether Gold into a 

. The program requires this collateral to be worth more than the value of the Alloy by Tether tokens they wish to withdraw. By overcollateralizing all minting, the system guarantees value without putting itself at risk.

Vaults are the core smart contracts of the Alloy by Tether system. They record and manage all user collateral. In addition to processing and holding onto collateral, 

 also store unissued aUSDT tokens, as well as records of 

Since Tether Gold's price is tied to the price of physical gold, its value can rise and fall. To keep this from rendering aUSDT tokens worthless, Tether Gold uses a liquidation system. If the price of gold falls so much that a user's gold-backed digital assets are worth far less than the aUSDT tokens they have, Alloy by Tether will liquidate some of their assets in order to secure funds.

Since gold-backed stablecoins already exist, is it worth buying Alloy by Tether? Although the concept of this crypto might seem a bit redundant, it actually provides several distinct benefits for both traders and investors.

aUSDT tokens are backed by Tether Gold tokens, which are a digital representation of ownership in real gold. A single Tether Gold token is worth one fine troy ounce of a gold bar stored in a Swiss bank account. Ultimately, this means that aUSDT has gold backing not found in other stablecoins.

The Alloy by Tether site is fully committed to transparency. Users can 

 backing their aUSDT at any time. Each Tether Gold token is tied directly to a bar of physical gold, so users can always be confident there’s a physical item solidifying the value of their tokens.

Unit of Account Backed by Stability of Gold

One of the main perks of aUSDT as compared to 

 is that the price is more stable. aUSDT's price always remains roughly the same as the price of the U.S. dollar. The only thing affected by the fluctuating price of gold is the amount of aUSDT you can withdraw. This makes it much easier to calculate payments and manage expenses.

Unlike physical gold, you don't have to worry about things like public trading hours or time zones. aUSDT is available to buy or sell at any time. This coin is publicly tradable, 24/7/365.

As an ERC-20 token, aUSDT is straightforward to store. It's compatible with almost all crypto wallets, and it's easily managed through the Alloy by Tether site. Depending upon your wallet style, Tether can even automatically add and remove your tokens as smart contracts change.

If you're interested in getting aUSDT tokens straight from Alloy by Tether, you'll need to visit its website and mint tokens. The token minting process involves six easy steps, as follows.

: Enter the number of Tether Gold tokens you wish to stake as collateral, or enter the amount of aUSDT you wish to withdraw.

: Make sure you have enough collateral to cover your desired amount of aUSDT.

: Check the projected metrics and make a note of your liquidation price and your mint-to-value ratio.

: Confirm the collateral transfer and sign your wallet with your private key, if necessary.

: Depending upon your wallet, you may need to directly add the aUSDT token addresses to see the tokens in your wallet.

When you're done using your aUSDT, you can return it in order to withdraw your XAUt tokens. Follow the steps below to collect your collateral from the Alloy by Tether Vaults.

: Check your mint-to-value ratio, and make sure it’s above the liquidation point of 75%.

: If necessary, add more aUSDT back to your account. You'll need to return all aUSDT in order to withdraw your full XAUt collateral.

: Confirm all wallet transfers and sign all necessary transfers in order to send the aUSDT back to Alloy by Tether.

As an investment token purchased on the secondary market, aUSDT has some interesting applications. First of all, Alloy by Tether users will often need to acquire aUSDT to close out their minting period after they’ve used up their aUSDT tokens on whatever else they were doing. This creates a consistent demand for the synthetic dollar that might work well for some investors. The token's price is pegged to the U.S. dollar, so prices won't fluctuate wildly. However, occasional spikes in demand may lead to some 

There can also be some potential rewards to swapping aUSDT and XAUt tokens. Since the aUSDT token is linked to the price of gold, minting aUSDT when gold prices are low and returning it when gold prices are high can be a wise investment choice. 

Just keep in mind that this type of coin is still fairly new. Though it has undeniable promise, it's hard to predict what will happen with it, and the collateralization and liquidation processes may be confusing to some investors. Anyone interested in aUSDT investments will need to be cautious about overextending themselves. Only spend money you can afford to lose when investing in the Alloy by Tether crypto.

Alloy by Tether is an intriguing plan to capitalize on the growing interest in stablecoins. The ability to retain gold-backed tokens while using a synthetic dollar provides investors with a lot of opportunities. aUSDT is sure to be useful for everything from yield-bearing products to personal transactions. With plans to introduce other tethered assets besides aUSDT in the future, Alloy by Tether is a project worth watching.

Alloy by Tether (aUSDT): Tether’s Gold-Backed Synthetic Dollar

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards