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

web3

This post takes you through Solana's riveting history and remarkable achievements and reviews continuing challenges and promising prospects. Learn more!

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Solana co-founder Anatoly Yakovenko had a late-night epiphany that birthed a vision: a hyper-optimized, lightning-fast smart-contract blockchain protocol. Its mission? To pioneer a scalable, secure and decentralized platform for the future of web3. 

This post takes you through Solana's riveting history and remarkable achievements and reviews continuing challenges and promising prospects. 

And if you'd like to win some fantastic prizes, join the Solana Fiesta on Bybit!

The Genesis and Vision of the Solana Foundation

The Solana Foundation, a not-for-profit organization, is dedicated to advancing decentralized technologies for the public good. Its primary focus is to promote the adoption of the Solana protocol, a blockchain platform developed by Solana Labs. This protocol utilizes a 

 (PoS) consensus mechanism, as well as a unique timekeeping method known as 

Founded in Zug, Switzerland, the Solana Foundation received 

 and 167 million SOL tokens from Solana Labs in April 2020. More SOL tokens are expected to be transferred to the Foundation in the future, with Solana Labs retaining a small portion for operational support.

 included Anatoly Yakovenko, Patrick von Felten, Mable Jiang, Wolfgang Albrech, and James Prestwich

 has been updated, most notably with Yakovenko stepping down to focus on application launches at Solana Labs. 

The Foundation's vision, as stated on its website, is to create a world where individuals have ownership of their data, and can access networks independently in order to transfer value without reliance on third parties.

To achieve this vision, the Foundation supports the development and adoption of the Solana protocol. This high-performance blockchain platform enables decentralized applications (

Solana stands out as a high-performance blockchain platform designed to deliver scalability, security and decentralization across a wide range of applications and use cases. Over the past year (2023), Solana has demonstrated remarkable success, outpacing many competitors and emerging as a front-runner in the cryptocurrency landscape.

Solana's success is fueled by its vibrant community of developers, users and supporters. This diverse and talented group drives innovation on the platform. With 

 and DeFi, it's clear that the platform has become a hub for cutting-edge projects.

, Raydium and Metaplex reveal the platform's versatility and appeal. Solana boasts an impressive user base, with over 

The community's engagement and support are evident across 

. Solana has a strong presence, with over 2.4 million followers on 

 (formerly Twitter), 44,500 members on Discord and 55,700 subscribers on YouTube. Its social dominance, as measured by its share of discussions among the top 100 coins, has significantly increased, indicating widespread interest and awareness within the crypto community.

Solana's success can also be attributed to its strong ecosystem of partners, investors and supporters. The platform has formed strategic partnerships with Circle, Chainlink, Coinbase, Binance and other major players in the crypto industry. These partnerships allow Solana to tap into vast resources and networks and integrate seamlessly with its platforms and services.

According to Crunchbase, Solana has received 

 in funding and support from renowned investors and funds such as Andreessen Horowitz, Alameda Research, Polychain Capital and Multicoin Capital. These investors provide not only financial backing but also valuable guidance and credibility, along with access to their extensive networks.

Solana has also built a dedicated and enthusiastic community, with influential personalities and celebrities like Chamath Palihapitiya and Mark Cuban lending their support. This backing helps to raise awareness about Solana and endorse its projects and initiatives, contributing to its growing popularity and success.

The Decimation of Solana: Fallout From Bankman-Fried’s Downfall

As a promising competitor to Ethereum in the smart-contract blockchain space, Solana suffered a significant downturn in late 2021. This decline can be attributed to various factors, with 

 being the involvement of Sam Bankman-Fried, the founder of the FTX exchange and Alameda Research.

Bankman-Fried's influence on Solana's growth was substantial, but his exposure as a fraudster had a ripple effect throughout the cryptocurrency community. His reputation’s unraveling had a negative impact on Solana, leading to a sharp decline in both token price and 

 by a staggering 96% from its peak price in November 2021, causing it to lose its position as one of the top cryptocurrencies. Total value locked (TVL) in DeFi protocols on Solana also fell by 98%, significantly reducing its standing among DeFi chains.

 of major projects such as DeGods, y00ts and Tether further weakened Solana's position as they cited concerns over technological and security issues, adding to Solana's credibility problems.

In addition to the fallout from the FTX debacle, Solana faced other challenges, including technological issues such as chain halts due to spam attacks. Also, Ethereum's 

 solutions emerged as strong competitors, offering similar benefits with added security and stability.

Confronted with these formidable challenges, Solana's future prospects dimmed considerably. The Solana Foundation now faces the daunting task of marshaling significant effort and resources in order to rebuild its ecosystem and regain trust.

Solana experienced a remarkable resurgence following the Bankman-Fried scandal, marked by several key factors.

Initially, the sell-off triggered by the collapse of major Solana holders FTX and Alameda exerted immense pressure on the token's value, causing it to plunge by over 90% in 2022.

However, in 2023, Solana staged an impressive recovery, rallying over 

. This resurgence was fueled by a broader market rebound that eased inflation and spurred a more accommodative stance from the Federal Reserve, contributing to renewed investor optimism. Solana's oversold status also provided room for a significant bounce.

In addition, renewed excitement surrounded Solana following an airdrop of BONK, a meme token reminiscent of the popular Shiba Inu token (SHIB). BONK 

 50% of its supply to Solana users, NFT collectors and creators, injecting fresh interest and demand into Solana's ecosystem.

Solana’s high-performance blockchain has experienced rapid adoption, innovation and value growth since its launch in 2020. Despite a setback in 2021, it has continued to attract developers, users and investors with its fast, affordable and scalable transactions, alongside a vibrant ecosystem of DeFi, NFT and web3 applications. Looking ahead, Solana's road map outlines initiatives to enhance mobile compatibility, reliability, resiliency, interoperability and security.

 — comprising tools such as the Saga phone, Solana DApp Store and Seed Vault — which is designed to enable seamless and secure crypto experiences on mobile devices. 

, a new consensus algorithm that leverages quantum computing, promises faster and more secure finality, easing cross-chain communication and coordination.

 will fund projects that contribute to the Solana ecosystem’s growth, such as infrastructure, tooling, education and community building.

However, Solana does face some hurdles. Competition from other high-performance blockchains, such as Ethereum, Polkadot, Avalanche and Cosmos — as well as Layer 2 solutions like Arbitrum and Optimism — poses a threat. Maintaining a technological edge and network effects is crucial for Solana's competitiveness. 

Again, reliability issues stemming from network halts and outages due to bugs, spam attacks and external factors have dented Solana’s reputation and trustworthiness. Improving stability and robustness is imperative in order to prevent further disruptions.

Navigating a dynamic regulatory environment presents another challenge. With varying rules and attitudes toward crypto across jurisdictions, Solana must ensure compliance while adapting to regulatory changes in order to avoid legal complications and ensure accessibility and legitimacy.

Solana holds promise with its ambitious road map and opportunities, yet navigating the uncertainties ahead will determine its future success. Executing its road map, overcoming obstacles and delivering value to stakeholders will be pivotal for Solana's growth and sustainability.

How to Join Bybit Web3 Airdrop Arcade for Solana Fiesta Airdrops

Participation rules for these events are streamlined for easy access and navigation. Just complete a few steps to become eligible. 

Here are the step-by-step instructions for claiming your airdrops: 

:Once you’ve created a Bybit Wallet (or logged into your existing one), you must deposit at least 1 SOL to your wallet to become eligible for the airdrop.

In order to qualify for airdrops and giveaways, users will be presented with a concise list of achievable tasks. Each task includes comprehensive tutorials designed to facilitate a smooth and efficient completion process.

: Successful task completion not only unlocks access to coveted airdrops and giveaways, but also awards users with lucky draw tickets, offering the potential to win even larger prize pools and exclusive NFTs.

: Follow the step-by-step DApp instructions to join the lucky draw and to become eligible for the giveaways. 

As an example, directions for the BONK Swap Airdrop are illustrated below: 

A Solana Chronicle: What to Look for in 2024

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards