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

Trading

The spot market is distinctively different from futures market. Here are the top highlights you must know about the spot vs. futures market.

Spot-vs-Futures-Market-1068x712.jpeg

 is where the commodities are traded on the spot with immediate delivery. While a futures market, as the name suggests, settles the delivery of commodities and futures contracts on a specific future date.

 are terms used in the financial market, like stocks or forex. But did you know they’re also the fundamentals to shape the crypto market?

Crypto market has had its fair share of ups and downs, in particular, the significant plunge of Bitcoin (BTC) prices from the neighborhood of $20,000 to $3,000 after the rally in 2017. Then goes the ever-changing regulations towards the adoption of Bitcoin. Until the recent BTC’s bull that sky-rocketed to its 

. That is still shocking to the majority of Bitcoin spot and futures market traders.

So why is understanding the difference between spot trading and futures trading so important?

Spot market is referred to as the cash market because of the way payments are immediately processed. In other words, the contract between the buyer and seller will be performed on the spot at the prevailing price with a determined quantity.

Let’s say Harry (buyer) wants to buy BTC from fiat (USD) in the spot market — he would need to look for a seller who’s in search of USD to perform the exchange. So, Harry could go to a crypto exchange spot market to look for the BTC/USD trading pair by setting a limit order at a predetermined price and quantity for the execution. 

In any case a buyer and seller make an equivalent offer in the spot market, the trades will be executed immediately. 

The crypto market operates 24/7, which means you can buy and sell crypto any time and any day. All transactions are settled with a ruling price known as spot rate, aka spot price in the spot market. Anyone who’s holding spot market contracts can hold and find a better deal if they are not immediately satisfied with the current prices. But there should be an active demand and supply for traders to execute to trade. 

There are two main spot markets; over-the-counter (OTC) and market exchanges. 

OTC in crypto trading is when you can trade in a decentralized market without an intermediary. There will be no need for a broker or any other central exchange involved in the process. 

The OTC market mainly deals with immense volumes with seeming opacity outside the public eye’s periphery. That’s because the trades in the OTC markets are usually private. On the other hand, the execution process is relatively straightforward. Whenever two parties agree on a price, trading volume, and transfer method, a trade can be executed directly without the involvement of an intermediary. 

Market exchanges is a regulated market where you can place orders through a trading platform or broker. Crypto prices will be shown immediately through real-time quotes. This type of spot market follows exchange hours. 

On the other hand, exchanges act as intermediaries for buyers and sellers to bid and ask for an asset. When there’s a match for the bid and an asking price, the exchange will facilitate the trade. 

When comparing it with the futures market, the spot market would be ideal for you if you’re looking for a long-term investment. On the contrary, if you intend to leverage or hedge your trade, the futures market should best suit you. 

A futures market is where you make a contract with another party to agree on an asset’s price for a date in the future. This speculation is placed on a specific day, but the transaction is not on the spot. So your crypto will only be bought or sold at a specific set price and date that have been agreed upon in a futures contract.

Unlike the spot market, you’re trading contracts in the futures market without actually owning an underlying asset. In fact, futures contracts are made in an attempt to avoid market volatility. For example, when you’re trading a 

, you’re not actually buying or selling BTC, but rather trading on the presumed value of BTC.

In other words, you are betting on the price movement of BTC that is parallel to the value of the contract without owning the asset. 

Volatility in crypto trading is inevitable, and it has been a concern for many traders. Still, the price swings offer trading opportunities for traders to predict the price movements. 

 are a form of a futures contract. Prior to signing the agreement, buyers and sellers must predetermine the price and date. And hedging is common to a futures contract. 

For example, Bybit offers x100 leverage to allow traders hedge capital to fund the contract without the need to fund a position upfront. What Bybit offers is to provide traders with a more substantial amount of capital to open a long position with the anticipation for the price to go up or short for the asset’s price to drop. 

Understanding key differences in the spot vs. futures market is vital to a successful trade. Once you understand their characteristics, you can easily identify each of these financial opportunities’ advantages and limitations. 

Let’s say you place a trade in the spot market, the transaction will be made right away. However, in the futures market, your asset has a locked price to be traded in the future based on the agreed terms. 

Spot price fluctuations are based on the volatility of an asset. For example, Bitcoin’s spot price can swing up or down significantly within minutes and hours. So when 

A common assumption is the futures prices are often higher than spot prices. But that is not always the case. 

Truth is, futures contracts involve many factors before you can start speculating an asset’s price and eventually agreeing on a trading price. Still, you should decide whether to bet that the futures price will benefit them or otherwise based on the real-world perception of volatility and price arbitrage.

The delivery date is the expiration date of a futures contract. To simplify it, it is the futures contract’s final date where the specified price and the crypto asset must be delivered. When the delivery date arrives, a contract holder must receive his or her underlying asset. 

However, this date differs from one contract to another. Some traders or investors can set a specific day, while others might decide on a month. Suppose you have agreed on the date of delivery in a month, the trade must be transacted a few days before the end of that particular month. 

Also, each delivery date has a unique code which is made up of numbers and letters. The exchange will act as an intermediary, but the last two symbols will be the month and the year, in that order. However, depending on the exchange, the last two symbols can be the month and date. For example, 

 is BTCUSD0625, settling on June 25, 2021.

But, if you decide to trade a forward contract instead of a futures contract, you are trading or investing through an over-the-counter spot market. Forward contracts allow the date to be adjusted when both the buyer and the seller agree to do so. 

If you want to use leverage in a spot market, you must first buy crypto coins and pay a transaction fee according to the exchange. It is, however, essential to note that their lending is not greatly funded. That means the leverage offered is usually not too high because their loaning balance isn’t either. 

On the other hand, futures markets have sufficient funds in their lending pools, which means they can offer higher leverage.

When you use leverage on a futures contract, you don’t need to pay the full amount of the contract. You can enter a specific percentage of the contract’s total value, which is known as the initial margin amount. 

 Initial margin is the amount of collateral required to open a position for leverage trading.

 usually ranges between 3% to 12% of the total value of the contract. But it is highly different from one exchange to another. For example, Bybit allows traders to add or reduce their margin to a position under isolated margin mode. However, the flexibility is subject to change based on the conditions. 

Whether you end up trading crypto with the spot market or futures contracts through market exchange, it is necessary to understand the risks. Every trader or investor’s goal is to minimize risk and maximize gains. 

One of the situations you could see yourself in is counterparty risk. That means the other party does not meet the obligations. This could happen because the opposite party is either unable to meet the terms or is unwilling to reciprocate.

However, since futures contracts mean you are trading through an intermediary, it is less probable to encounter a counterparty risk because the value is based on the market rate.

On the other hand, forward contracts are not regulated by the market like futures. They are agreed upon according to the buyer and the seller. These contracts finalize when the crypto is exchanged, which means you will only know your profit and loss when the date comes around. 

Other than you as an individual trader, is anyone else involved?

The answer is yes, and the relevance is significant. 

Both spot markets and futures markets have two main parties involved in the transaction; a 

. The spot market boasts with immediate transactions. So when the buyer’s and seller’s prices match, the trade will be executed. 

As for the futures market, there is often an intermediary that is involved within the process.

Fees are always a concern when it comes to trading. That is because they can pile up and decrease your overall gains. 

Spot market crypto trading usually charges a transaction fee that is set around 0.1% to 0.2%. There could also be transaction fees that depend on the trading volume of the total of buyers and sellers in the market. 

Despite the trading fees, futures contracts usually have a settlement date too. When a settlement date is met, 100% of all the positions must be closed entirely. Therefore, when traders decide not to close their position manually, the system will automatically settle the position at the point of reaching the settlement date. And an outstanding position will be subject to a settlement fee.

, who seek liquidity and take liquidity off the book immediately will be charged a trading fee.

, who provide liquidity and increase the market depth of order books will receive a rebate.

structure (0.075% taker fees) and (-0.025% maker fees) for all perpetual contracts when the futures order is manually placed to open or close the positions. 

So, is the futures market better than spot? That will depend on your needs and trading strategies.

 may be better paired with the spot market, where you can instantly buy or sell regularly. But if you would rather speculate the crypto price, then future contracts could be a better option. 

A clear understanding of the trading market and paired with controlled emotions yields the best results.

Crypto Spot Market vs. Futures Market: The Key Differences

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