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

Still bullish for algorithmic stablecoins? Find out if TRON's native stablecoin USDD is worth investing in.

In April, Justin Sun introduced the USDD stablecoin to the market. This coin is set to be part of the TRON blockchain and is meant to function like the price of the U.S. dollar or a currency such as gold. As an 

, the Terra stablecoin that was the largest of its kind until early May. Because of how new and untested the TRON stablecoin is, it may seem daunting to consider investing in the TRON stablecoin. In this article, we’ll learn more about what USDD is and what it can do for your long-term goals if you choose to invest in it.

USDD is a TRON stablecoin and digital asset that launched on BNB Chain, Ethereum and TRON on May 5, 2022. Justin Sun claims that USDD will provide investors with an annual percentage yield of 30%.

The algorithmic stablecoin system reduces the total number of tokens available once the price dips below its preferred value. In the event that the token’s price goes higher than the preferred price, more tokens will be put into circulation to alter the stablecoin's value enough for it to dip to the correct price. The purpose of using an algorithmic stablecoin is to have more control over a coin's supply and demand.

 over the years, the latest of which is central to the TRON stablecoin. When this stablecoin was first announced in late April, many crypto holders claimed that the stablecoin was a copy of Terra's UST stablecoin. Despite these claims, Do Kwon, the founder of Terra, has stated that he welcomes the initiative and hinted at the possibility of a TRON partnership at some point in the future.

The USDD stablecoin is directly managed by TRON DAO and is set to be pegged to the U.S. dollar at a 1:1 ratio, which means that the value of this digital currency is tied to the value of the U.S. dollar. If you've invested in Terra's UST before, the USDD stablecoin functions almost just like the Terra UST. Both of these are algorithmic stablecoins.

When the stablecoin dips below the aforementioned peg ratio, users are given the opportunity to redeem a single USDD for one U.S. dollar. When the price of the stablecoin goes higher than the $1 pegged amount, it's possible to trade one U.S. dollar for one USDD.

At the moment, the USDD stablecoin is expected to adhere to a four-stage road map. These stages are separated into the Space, International Space Station, Moon and Mars stages. At the moment, details are only known about the initial two stages, and are centered around the strategies and management techniques that will allow the USDD stablecoin to remain pegged.

During the 1.0 Space stage, USDD stablecoin management is given to major blockchain institutions as well as the TRON DAO reserve. The TRON DAO reserve delivers custody service of the $10 billion in liquid assets that were raised from partners in the blockchain industry.

These assets are used as early-stage reserves to make sure that the USDD rate remains stable and that convertibility is allowed. Once the TRON stablecoin was launched on May 5, the TRON DAO reserve set the risk-free interest rate at 30% per year. They’re also encouraging other centralized and decentralized organizations that accept the USDD stablecoin to implement relatively consistent rates. Keep in mind, however, that other organizations don't have to adhere to Tron's guidance.

Since USDD and UST are both considered to be algorithmic stablecoins, they have many similarities. In fact, the USDD stablecoin road map is almost the same as the UST road map. Despite their similarities, there are also several differences to be aware of before selecting a stablecoin to invest in. To better understand the similarities and differences between these two stablecoins, let’s look at the primary differences between USDD and UST.

USDD is TRON’s stablecoin which maintains stability with the use of smart contracts and algorithms. TerraUSD (UST) is another algorithmic stablecoin that's completely decentralized, and is available on the Terra blockchain. This is a yield-bearing and scalable coin that's pegged directly to the U.S. dollar.

Other than the algorithmic methods that are used to help UST maintain its value, the main similarity between UST and the USDD stablecoin is that both of these stablecoins are pegged to the U.S. dollar. Terra is aiming to form an extensive ecosystem around UST and 

. While considering the differences between UST and the USDD stablecoin, the APY for these coins is set at 19.5% and 30% respectively.

. This mechanism gives Oracle the ability to display the USDD price directly on the Tron network. A coupon is submitted that shows the current exchange rate of USDD to USD.

USDD tokenomics are fairly straightforward. In fact, if you have any previous experience investing in UST with Terra, you’ll have a decent understanding of USDD tokenomics. The USDD stablecoin is built directly on the TRON blockchain. Users can swap or trade their TRX coins to receive USDD currency.

The value of USDD invariably fluctuates over time, since its value is driven by demand and supply. The current value of USD also plays a role in USDD’s current value. When the value of USDD exceeds one U.S. dollar, more coins will be placed in the market to keep the price relatively stable.

In the weeks since its initial launch, the TRON DAO reserve has purchased nearly $40 million TRX, which amounted to more than 500,000,000 coins. This purchase was made on behalf of the TRON DAO reserve. The reason that Tron purchased these coins from its own market was to safeguard USDD and the blockchain industry as a whole.

At the moment, the total supply of USDD is just over 500 million. The value of USDD is stable at the moment, with a price that's somewhat higher than the U.S. dollar. As such, the total market value of this TRON stablecoin is a little more than $500 million. Even though the market capitalization of Terra's UST is considerably higher at the moment, the USDD stablecoin has only been around since early May, and should continue to increase for the foreseeable future.

During the most recent 24-hour period, nearly $190 million of the TRON stablecoin was traded, which marked a 37% increase from the day before. When looking at historical USDD data, the market has opened at $1.00 more often than not. The lowest opening was around $0.9971, which occurred on the first day of trading. When the stablecoin first launched on May 5, it had a market capitalization of a little over $127 million. Since then, it has increased to a market cap of around $500 million.

Even though the TRON stablecoin is relatively new and has been on the crypto market for less than a month, there are already signs that can help you determine if USDD is a good investment, or one that you should avoid. With this information in mind, you can make a more informed decision as to what's best for your portfolio.

Based on everything we know about USDD up until this point, it's a great investment opportunity as long as you understand the inherent risk that comes with investing in any cryptocurrency. Markets are generally volatile. However, the manner in which USDD was implemented means that the price of the coin should remain relatively stable in the future. Since USDD is pegged with the U.S. dollar, the price of this stablecoin should continue to remain almost 1:1 with the value of the dollar.

Keep in mind that obtaining returns which match the intended APY of 30% will require you to engage in mining. Even though some crypto investors have accused Justin Sun of creating a stablecoin that almost mirrors Terra's UST, you should expect the USDD stablecoin to have a similar performance when compared to most other stablecoins that are currently on the market.

If you would like to invest in the USDD stablecoin, you can do so from a wide range of different cryptocurrency markets. The market you choose largely depends on which one you prefer. The primary marketplaces you can purchase USDD with include Bybit, Gate.io, Poloniex, KuCoin, and Huobi Global. At the moment, the price is mostly oscillating between $0.97 and $1.00, with a momentary depegging period in the middle of June.

The first step to buying on a marketplace like Bybit is to 

. You can do this in just a few minutes, as long as you have an email address and a mobile phone for multi-factor authentication. Once your account is up and running, you’ll need to on-ramp your funds. You can then use these crypto holdings to 

Now that you have a better idea of what USDD is, you have the info required to determine if the USDD stablecoin is right for you and your crypto portfolio. While this stablecoin is relatively new, it offers some distinct advantages that may pay dividends in the future. As an algorithmic stablecoin, USDD is very similar to the UST stablecoin. If you have knowledge of how to properly utilize UST, this can work as the basis of your USDD investments.

What Is USDD: The 30% APY TRON Stablecoin From Justin Sun

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards