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

Bybit Learn

Trading

Interested in trading crypto derivatives? Check out the best crypto derivatives trading strategies to use in this article and start trading on Bybit today!

2305-T3931_5_Best_Trading_Strategies_You_Can_Use_to_Trade_Derivatives_on_Bybit_infographic_v2_1600x5000.png

Covered_Call_Strategy@3x.png

Wheel_Strategy_1@3x.png

Wheel_Strategy_2@3x.png

Collar_Option_Strategy@3x.png

Cash_and_Carry_Trade@3x.png

Iron_Condor@3x.png

 are a niche in the finance realm, the crypto industry has made great strides in recent years. From IPO-esque 

, plenty of TradFi elements are being adopted for crypto investors and speculators to generate extra yield. 

The latest innovation in this space is crypto derivatives. By employing crypto derivatives trading strategies, smart investors can stand to earn a tidy profit. Curious about finding out more? Scroll on as we cover everything you need to know about trading strategies for crypto derivatives.

Before diving into specific strategies, it’s important to first understand the tools available in your arsenal. On Bybit, you’ll be able to trade all kinds of crypto derivatives. These range from 

 like USDT and USDC as collateral, to inverse Perpetual and Futures contracts that use the coin or token itself as collateral. For advanced strategies, you can trade 

The best thing about derivatives trading strategies is that they're varied to suit your trading style. Check out our list below for the best derivatives trading strategies tailored for you.

: Bullish long-term investors who own the underlying asset.

 strategy comes in two parts: owning the asset and writing an out-of-the-money (OTM) call on said asset. While this neutral strategy might limit your upside, it allows investors to generate a steady flow of income in the form of call premiums. This allows long-term 

 to benefit, even when the asset's price moves sideways or drops.

How To Execute This Derivatives Strategy:

Scope out the options chain sheet and look out for calls that are expiring in a month’s time.

Depending on your risk tolerance, look out for 15% – 30% OTM calls and proceed to write one based on your underlying Spot position.

 If the call expires in-the-money (ITM), your position gets sold and you’ll earn the difference between the strike price and cost of your Spot position on top of the call’s premium.

However, if the call expires OTM, you’ll continue holding your position and you’ll earn the call’s premium.

After buying 1 ETH at $1,200, you can write a covered call by selling a 1400C contract that's expiring a month out. Based on the 

, a premium of about 1% of the ETH’s cost is credited to you. Upon expiring, if the ETH-1400C contract expires OTM, you’ll profit from the call’s premium and continue to hold the shares. If the call expires ITM, you’ll sell 1 ETH at $1,400 and pocket $200 and the call’s premium.

: Traders who want to profit from sideways trending markets and have capital to spare.

Keen on taking the Covered Call strategy one step further? Make sure to give the 

 a try. Instead of simply opening a long spot position by buying your preferred crypto underlying asset, the Wheel Strategy involves two parts: selling cash-secured puts and covered calls. 

After ensuring you have enough capital to fulfill contracts you’re assigned to, select a strike price to sell your put at. Should the put expire ITM, you can then proceed to sell covered calls for the underlying asset that’s assigned to you.

 Refer to the Options chain sheet and look for puts that are expiring in a month’s time.

 Based on your risk tolerance, write 15%–30% OTM puts based on your available capital and receive the premium credited to you.

 If the put expires OTM, you’ll profit from the premium earned and your capital can be reused for selling more OTM puts.

 If the put expires ITM, your capital gets converted into the underlying asset, with its cost price being based on your put’s strike price.

Continue to the second part of the Wheel Strategy if you’re assigned the underlying asset and sell covered calls for your assigned asset.

Sell a BTC-15000P cash-secured put that’s expiring in a month. Then, if you’re assigned BTC because the put contract expires ITM, continue to run the wheel strategy by selling a BTC-17000C covered call. If the covered call expires ITM, you’ll earn a tidy profit and have capital to now sell more cash-secured puts.

: Investors who want to protect themselves against near-term losses while still earning a profit.

A final variation that we’d like to cover is the 

. Like the Covered Call strategy, this best derivatives trading strategy excels at limiting your risk while allowing investors to stay bullish in the grand scheme of things. What’s different is that Collar Option strategies involve an extra protective put that traders buy to guard against 

 that cause the asset to massively plunge in value.

Like the Covered Call strategy mentioned above, sell an OTM call based on your risk preference.

Using the premium earned from writing the OTM call, proceed to buy an OTM put contract.

If the underlying asset’s value plunges, the OTM put will become ITM and you’ll be able to suffer minimal losses.

After buying 1 ETH and writing an OTM call, utilize the Collar Option strategy by buying an OTM ETH put. This protects you from any short-term downside while allowing you to stay bullish in the long run. Should ETH suddenly crash in value, you can then proceed to rely on this hedge to minimize your portfolio losses.

: Arbitrage traders who foresee futures being impacted by near-term catalysts.

Is a short-term catalyst weighing on the sentiment of crypto futures? Cash-and-Carry Trades are the best way to profit from this. Unlike the other best derivatives trading strategies on this list, Cash-and-Carry Trades offer a market neutral approach that minimizes volatility and guarantees risk-free profits. As an arbitrage strategy, this trade will only be viable if the short futures position exceeds the cost of the long Spot position.

 Sell a Futures contract of that same Spot asset to open a short position.

 Upon expiry, the price of the Futures contract will converge with the Spot price, allowing traders to profit when they close the short position.

Begin by buying 1 BTC and selling a BTC-JUN contract. For each position, you’d profit from the difference between the BTC Spot and Futures contract. In doing so, you’ll be exploiting the existing sentiment and profiting without exposure to any directional risk.

: Traders who expect low volatility and asset prices to trade within a range.

 combine calls and puts to ensure fixed losses and profits. Essentially, traders will buy and write an equal amount of OTM calls and puts to ensure volatility risks are accounted for while earning a guaranteed profit with each spread trade. During times of low volatility, Iron Condors excel because their multi-legged strategy guarantees high odds of profit.

 Open your Iron Condor spread by writing close to at-the-money (ATM) contracts. This is the ideal range you should aim for the asset to fall within.

 To minimize risk, buy OTM contracts to account for significant price changes.

 If the asset closes within the written contracts’ range at expiry, traders will earn maximum profit as all contracts expire worthless.

 If ETH closes beyond the range of the OTM contracts at expiry, traders will suffer maximum loss of the difference between the ATM and OTM contract. However, the bought contracts will kick in and protect traders from further losses.

Start by selling ETH-1150P and ETH-1250C, and buying ETH-1100P and ETH-1300C contracts. This will count as one Iron Condor spread. Maximum profit will be secured if ETH expires at $1,150-$1,250. On the flipside, traders will experience maximum loss when ETH expires below $1,100 or above $1,300.

We hope that this article has been helpful in educating you about the best crypto derivative trading strategies you can employ on Bybit. From the Wheel Strategy to Cash-and-Carry arbitrage trades, the sheer variety of derivatives for trade with us allows informed traders to protect their capital while maximizing opportunities for growth, regardless of market conditions and sentiment. 

Interested in learning more about how options are priced? Our definitive guide to 

 will be right up your alley. Alternatively, if you want to protect your portfolio during the bear market downturn, check out our 

5 Best Trading Strategies You Can Use to Trade Derivatives on Bybit

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards