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

Trading

Learn about crypto futures trading, how crypto futures contracts work and the different futures contracts available on Bybit.

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Crypto futures enable traders to hedge against market risks, amplify their position sizes with leverage and execute different strategies without owning the underlying asset. On an intuitive and user-friendly trading platform like Bybit, you can access a wide range of futures contracts with top-tier liquidity.

In this article, we'll introduce crypto futures trading, show you how crypto futures contracts work and discuss the different futures contracts available on Bybit. We’ll also provide a comprehensive step-by-step guide that shows you how to get started with crypto futures trading on Bybit.

Crypto futures are derivatives trading contracts that represent the right to buy or sell an underlying cryptocurrency at a set price at a future date. In a futures trade, the buyer is obliged to purchase the underlying asset at the expiration date.

These derivatives trading contracts originate from the traditional finance (TradFi) industry. That said, there are a few key differences between crypto futures and their conventional counterparts. 

On the one hand, traditional futures are strictly regulated and can only be traded when the respective stock exchange is open. Also, they represent general market assets, such as stocks, forex and commodities. In contrast, crypto futures track digital asset prices that can be traded at any time, and their regulation varies by jurisdiction.

Crypto futures enable traders to gain exposure to cryptocurrencies without actually owning them. However, the primary benefit of these contracts is their ability to amplify your position size with leverage. By doing so, you take higher risks to trade with less capital and increase your potential returns.

Types of Crypto Futures Contracts on Bybit

Based on the underlying asset, you can trade three types of crypto futures contracts on Bybit:

In addition to standard crypto futures, you can also trade inverse futures contracts on Bybit. With inverse futures, you can generate returns when the underlying asset's price declines, without taking a short position. Examples include 

You can also trade perpetual crypto futures on Bybit. Unlike standard futures contracts, perpetuals don't have an expiration date, meaning you can hold them for virtually indefinite periods. These derivatives trading contracts use the funding rate as a mechanism to track the spot price. On Bybit, you can access a wide range of crypto perpetuals, such as 

By trading a crypto futures contract, you agree to buy or sell the underlying asset at the expiration date. This allows you to set your price in advance. You can manage crypto futures on Bybit via

When you buy a contract on Bybit, you generate returns on the trade when the future price (which tracks the underlying asset's price) rises. On the other hand, shorting crypto futures allows you to profit when the contract's price falls.

For example, suppose you take a long position in 

 with a 1 BTC position size. Here you agree to purchase 1 BTC on December 27, 2024 for 72,000 USDC. (The latter is the current Bitcoin price as of the time of this writing on Nov 4, 2024.) Let's say BTC's price increases to 100,000 USDC by the expiration date. In that case, you’ll earn 28,000 USDC, minus trading fees. However, if Bitcoin’s price falls to 50,000 USDC by December 27, you’ll have a loss of 22,000 USDC.

Crypto futures have multiple important components, such as the contract symbol, expiration date, underlying asset, contract size and maintenance margin.

Every futures pair has a symbol — for example, BTC-27DEC24. On Bybit, this symbol has four components for standard contracts:

Combining the day, month and year codes (e.g., 27DEC24) gives you the contract's expiration date.

The expiration date (e.g., December 27, 2024 for the BTC-27DEC24 contract) refers to the date at which your crypto futures contract will be settled. This is also the last day you can trade the contract.

At expiration, your crypto futures contract is settled in cash, or via the underlying asset's (e.g., BTC) physical delivery. On Bybit, the BTC-27DEC24 derivatives contract settles in USDC, with delivery taking place on December 27, 2024 at 8AM UTC. The contract's delivery price is determined by the average index price in the final 30 minutes before expiration. Bybit charges no delivery fees for crypto futures traders.

The underlying asset is the cryptocurrency you buy or sell with a crypto futures contract. Besides the underlying asset, it's also important to learn which token the contract is settled in at the expiration date. In the BTC-27DEC24 contract, these are as follows:

Each crypto futures pair has a contract size (the amount of the underlying asset delivered for a single contract). With Bybit, the contract size equals one unit of the underlying cryptocurrency (e.g., 1 BTC for BTC-27DEC24).

Maintenance margin refers to the minimum amount of margin you must have to maintain your position or account. If your position margin falls below this level, a 

 will occur to prevent you from falling into negative equity. Thus, the maintenance margin is a critical component to consider if you use leverage to amplify your potential gains with crypto futures.

At Bybit, the maintenance margin level for crypto futures contracts is based on various risk tiers. Each tier has its own risk limit (maximum position size in USDC) and maximum leverage. Greater risk limits come with higher tiers and maintenance margin rates, as well as lower leverage.

For example, for the BTC-27DEC24 contract, the maintenance margin rates would be set as follows:

How to Get Started With Crypto Futures Trading on Bybit

As a user-friendly and intuitive exchange,

 that’s an excellent choice for both beginning and experienced traders.

The following is a step-by-step guide to help you get started with crypto futures trading on Bybit.

With a Unified Trading Account, you don't have to switch from one instrument account to another to tailor your trading experience, 

 and account finances. Most importantly, a UTA is mandatory for trading crypto futures contracts on Bybit.

To open a UTA, you need to already have an account with Bybit. If you don't have one, 

 (and for ID verification). For new registrations, Bybit will automatically provide users with a UTA.

 page in the trading widget next to your account.

Next, read the details shown in the pop-up, acknowledge Bybit's Trading Rules and Terms of Service for the UTA and click on 

. Now that your Unified Trading Account is ready, you can start trading crypto futures contracts.

Step 2: Fund Your Unified Trading Account

In the pop-up window, choose your desired cryptocurrency and blockchain. To avoid any losses, please always ensure that the selected network corresponds to the chain on which it resides. For example, choose ERC-20 if you’re transferring USDC to your Bybit account from Ethereum. 

 to auto-channel deposits to your UTA, and initiate a transaction from your wallet to the address displayed on the page.

Besides crypto, you can also deposit fiat currency via the 

After funding your UTA, the next step is to open a crypto futures position on Bybit. To do that, click on 

 and tap on the symbol of your preferred contract. For this guide, we have selected 

Once you’ve analyzed the crypto futures market via 

 analysis to determine an entry point, use the trading widget on the right to open a position.

First, choose your desired margin mode: Isolated Margin, Cross Margin or Portfolio Margin (learn more about these 

Next, adjust the leverage for your position. Remember, higher leverage means greater risks and more potential returns for the trade. When you’re ready, click on 

Select whether to place a limit, market or conditional order (learn more about these order types 

, you can set a stop-loss order and/or a take-profit order for your trade to help manage your risks efficiently. Click on 

Finally, after reviewing your order, click on 

 to open a short futures position. Bybit's robust matching engine will automatically execute your order. Market orders are executed at the current market price, limit orders at the set order price and conditional orders at the set order and trigger prices.

To maximize your profits and minimize your risks in the crypto futures market, you need to follow sound trading strategies. Diligently following predefined rules and conditions helps you make informed, data-backed decisions and minimize the impact of your emotions on your trades. Below, we’ve collected some of the best trading strategies for the crypto futures market (you can

Effective crypto futures trading strategies incorporate multiple tools and practices to manage risks. Examples include stop-loss and take-profit orders, diversified portfolios, hedging, and never risking more capital that you can afford to lose.

Benefits of Trading Crypto Futures on Bybit

Trading crypto futures on Bybit provides traders multiple benefits:

Crypto futures are risky financial products. Some of the potential risks to traders are as follows:

Crypto futures trading enables you to amplify your potential returns, and to hedge against market volatility and other risks. 

However, crypto futures are risky financial products, and traders must be aware of the potential risks. Examples include high volatility, potentially leading to rapid and significant losses; leverage risks, which could amplify losses or lead to a margin call; liquidation risk when margin falls below the maintenance margin level; and liquidity risks for smaller crypto assets.

With Bybit's user-friendly and intuitive trading platform, you can take advantage of top-tier liquidity and cost-efficient fees to maximize your profits. In addition, you can access multiple tools for efficient risk management.

How to Get Started With Crypto Futures Trading on Bybit

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards