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

Bybit Web3's Airdrop Arcade serves as a streamlined and user-friendly aggregation platform for accessing promising crypto airdrops. Learn how to claim airdrops!

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 Learn how to participate in airdrops and maximize your rewards through Bybit Web3's Airdrop Arcade. Stay informed about upcoming airdrops and strategies to get the most out of them.

In the dynamic landscape of cryptocurrency, airdrops represent exciting opportunities to acquire valuable digital assets at no up-front cost. However, navigating the vast array of available offerings and discerning legitimate projects can be overwhelming for both seasoned and new users. 

In this article, we’re thrilled to introduce Bybit Web3 Airdrop Arcade — a simple and seamlessly designed platform that empowers users to discover and participate, and ultimately to win free crypto through airdrops and NFTs. We’ll also introduce the Solana Fiesta campaign, which you can take advantage of for attractive airdrops.

Note: Bybit Learn does not constitute financial advice. Readers are reminded that trading cryptocurrencies involves inherent risks and should conduct their own research before making any investment decisions.

Crypto airdrops are essentially distributions of a cryptocurrency's tokens or NFTs that are given away to users who have fulfilled the preset terms and conditions of the airdrop events. Airdrops usually function as a marketing strategy for new crypto or web3 projects, aiming to boost awareness, adoption and community engagement.

Distribution methods vary. For example: 

Crypto airdrops present exciting opportunities to explore the crypto landscape and potentially acquire valuable assets. However, there are still bad actors around. It’s crucial to conduct thorough research on projects and platforms that offer airdrops to mitigate risk exposure.

Crypto airdrop aggregators are services provided to help you discover and learn about any available airdrops, as they’re essentially free distributions of cryptocurrency tokens by new projects to generate interest and awareness. 

This allows users to find airdrops relevant to their interests and risk tolerance quickly.

Using an aggregator can save time and offer a wider range of options, but it's essential to approach airdrops with caution and conduct thorough research before participating.

Bybit Web3's Airdrop Arcade serves as a streamlined and user-friendly aggregation platform for accessing promising crypto airdrops. It empowers Bybit Wallet holders to seamlessly participate at no cost in airdrops featuring valuable crypto assets.

Airdrop Arcade simplifies the discovery of valuable crypto airdrops and promising projects by aggregating numerous opportunities and participation mechanics within a single, user-friendly application. This eliminates the time-consuming burden of scouting for potentially rewarding ventures, allowing you to focus on optimizing your participation and maximizing your returns.

While the crypto space features numerous airdrop aggregators, identifying platforms that are both reliable and user-friendly can be a complex undertaking. After all, significant disparities exist in the quality and functionality of available aggregators, emphasizing the importance of selecting a platform that aligns with your specific needs. In this context, Bybit Web3's Airdrop Arcade stands out as a particularly compelling solution.

Recognizing the crypto industry's need for accessible and engaging methods to acquire exclusive web3 rewards and early token airdrops, Bybit Web3's Airdrop Arcade delivers a streamlined platform. 

Airdrop Arcade leverages a proprietary analytical framework that meticulously assesses the potential value proposition of each project before integration into the platform. This rigorous evaluation process ensures the curation of prominent projects and promising protocols that meet stringent internal benchmarks, ultimately maximizing the likelihood of users acquiring valuable airdrops. 

Notably, the category of "gem airdrops" signifies tokens or NFTs exhibiting significant price appreciation potential over time. Featuring meticulously curated projects, such as the upcoming Solana Fiesta airdrops with $120,000 worth of crypto airdrops and NFTs, the platform offers users a simplified path to valuable opportunities.

Unlike other aggregators, Airdrop Arcade facilitates a streamlined redemption process, delivering rewards directly to Bybit Wallets and eliminating the potential complexities associated with on-chain airdrop interactions.

By incorporating gamification elements, Airdrop Arcade enhances the accessibility of crypto acquisition for users of all levels. The platform provides a gamified environment, featuring multiple tiers and challenges and enabling users to discover rewarding opportunities while enjoying the progressive experience of advancing through various stages and levels, ultimately expanding their crypto holdings. 

User-friendly and specifically designed for both beginners and experienced airdrop enthusiasts, Airdrop Arcade curates promising opportunities and presents them as guided quests within the platform's engaging arcade setting.

Upon completion of the tasks on the platform, users are entitled to exclusive crypto airdrops. Additionally, they can participate in on-chain interactions to win airdrops from initial chain token launches such as Dymension, Scroll, LayerZero and others. 

Airdrop Arcade stands out within the web3 landscape by offering a unique value proposition: gas-free airdrop claims. Users who successfully complete designated tasks are eligible to claim their rewards without incurring any gas fees, as Bybit graciously covers these costs on their behalf. This innovative approach significantly enhances accessibility and minimizes barriers to entry for participants, fostering a more inclusive and engaging crypto experience.

Airdrop Arcade’s simplified participation process, presented with clear and concise instructions, empowers users to readily identify tasks required for reward acquisition and seamlessly enjoy exclusive crypto airdrops. Engaging quests integrated with decentralized applications (

) provide rewards such as token airdrops and NFTs, which are conveniently delivered directly to users' Bybit Wallets.

Eligibility to Participate in Bybit Web3 Airdrop Arcade

All Bybit users are eligible to participate in Airdrop Arcade events as long as they own a Bybit Wallet, or based on the terms and conditions of each project. Participants also need to have a valid 

 to earn a chance for the giveaways and exclusive rewards reserved for Bybit users. 

Participants who complete the required tasks on DApps, such as swapping, staking or following their listed social handles, will be eligible for the airdrops.

Airdrop periods may differ depending upon each project’s terms and conditions. Rewards will be explained explicitly on each campaign page, promoting transparency for users. 

How to Join Bybit Web3 Airdrop Arcade for Solana Fiesta Airdrops

Users just need to complete a few steps to be entitled to the airdrops, and participation rules are streamlined for easy access and navigation.

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 need to deposit at least 1 SOL to your wallet in order to be eligible for the airdrop.

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 rewards 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: 

Top Projects on Airdrop Arcade (Upcoming in 2024)

Stay tuned for more star protocols — zkSync, LayerZero, Starknet and other exclusive airdrops in the Airdrop Arcade. 

zkSync: Scaling Ethereum With Zero Knowledge Proofs

zkSync is a scaling solution for Ethereum that uses a technology called zero-knowledge proofs (zk-SNARKs). These proofs allow zkSync to verify the validity of transactions without revealing the specific details. This makes zkSync significantly faster and cheaper than Ethereum’s dominant network while maintaining the same level of security.

Currently, zkSync is in its testnet phase, but it's expected to launch its mainnet soon. It's primarily focused on scaling payments and other simple transactions, making it a good option for decentralized exchanges (

LayerZero: Seamlessly Connecting Blockchains

LayerZero isn’t a scaling solution itself, but rather an interoperability protocol. It allows applications to communicate and transfer assets across blockchains, creating a unified network. This is achieved through a unique combination of blockchain 

, ensuring secure and reliable chain communication.

Although LayerZero is still under development, it has the potential to revolutionize the way blockchains interact and to unlock new possibilities for cross-chain applications. It focuses on facilitating complex interactions and value transfers between chains, making it valuable for building DeFi and NFT applications that span multiple blockchains.

Starknet: Scaling With StarkWare Technology

Starknet is another scaling solution for Ethereum, similar to zkSync. However, it uses a different approach, validity proofs, which is based on StarkWare technology. This allows Starknet to achieve levels of scalability and cost efficiency similar to zkSync.

Starknet is already live on its mainnet and has a growing ecosystem of applications. It's considered more general-purpose than zkSync, meaning it can be used for a broader range of applications that include 

The world of cryptocurrency continues to evolve, presenting a tapestry of possibilities for savvy investors. Bybit Web3 Airdrop Arcade aims to simplify your exploration, empowering you to capitalize on exciting airdrops and NFT opportunities. Our user-friendly platform eliminates the complexities associated with navigating the crypto landscape, allowing you to focus on what truly matters — acquiring valuable digital assets in fun and engaging ways.

As we celebrate the launch of Bybit Web3 Airdrop Arcade, join us as a participant in the highly anticipated Solana Fiesta campaign. With lucrative airdrops and exclusive NFTs up for grabs, this is a prime opportunity to jump-start your crypto journey and unlock the potential of web3. 

Explained: What Is Bybit Web3 Airdrop Arcade?

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards