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

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Explainers

Altcoins

Gravity (G) token by Galxe is the new unified token for its ecosystem, streamlining web3 identity management and enhancing DApp interactions across multiple blockchains.

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As the number of blockchains, protocols and 

 (DApps) keeps growing, the issues of user identity management and inter-platform authentication are becoming increasingly relevant. Managing 

 identities and identifying promising reward and 

 opportunities is no longer a trivial task for end users, and for brands, onboarding quality users and running effective loyalty programs have also become increasingly challenging in today’s complex and competitive web3 world

Back in 2021, a decentralized web3 credential management solution, 

, was first conceptualized to address the complexities of user identity management in the increasingly sophisticated blockchain environment. Project Galaxy was rebranded to Galxe (GAL) in 2022 as the scope and scale of the project's operations expanded. In June 2024, the project team celebrated another pivotal event in the platform's history — the launch of the Gravity Alpha Mainnet. This blockchain network adds a truly multichain dimension to Galxe's products in the areas of identity management, loyalty and community-building solutions, and on-chain reputation management.

 (GAL) is a decentralized platform that offers omnichain solutions for web3 credential management, loyalty program development and user onboarding, on-chain reputation scoring, reward programs discovery and generative AI (GenAI)–supported web3 research. 

The project aims to provide a collaborative credential data network whose users can easily create and manage their decentralized identities (DIDs) across many blockchain networks and apps. 

The Galxe Identity Protocol underpins Galxe's credential data network. At the same time, its multichain functionality is powered by the Gravity blockchain — a network designed for mass adoption by web3 users, brands and developers.

While some of the platform's credential services are focused on web3 end users, Galxe also offers modular solutions for brands in the areas of marketing and loyalty program development. Galxe's application modules allow developers to easily deploy turnkey solutions to onboard users, run loyalty programs and distribute rewards.

Additionally, Galxe offers a GenAI tool, Alva, to help users stay up-to-date with news and developments in the web3 industry and crypto markets.

The core elements of the Galxe ecosystem were first conceptualized in 2021 when two California-based entrepreneurs, Charles Wayn and Harry Zhang, founded Project Galaxy. The Project Galaxy team successfully integrated more than 10 blockchain networks before rebranding the platform to Galxe in late 2022. In mid 2024, the Galxe project took its multichain focus to a new level by launching the Gravity blockchain — a 

 platform supporting cross-chain operations across multiple networks. The project's main cryptocurrency, GAL, was also migrated to G, the native crypto of the Gravity blockchain, in July 2024.

 technology, the Galxe Identity Protocol’s permissionless environment is designed to help users create, manage and share their web3 credentials securely and privately. The protocol has four main actors — Credential Holders, Issuers, Verifiers and Credential Type Designers — and is operated by smart contracts and SDK tools to issue or verify credentials off-chain.

Web3 projects are typically the entities that act as Issuers and Verifiers of decentralized credentials based on the protocol. For instance, a crypto trading platform may verify and issue credentials to participants in its loyalty campaigns. End users then become Holders of these decentralized credentials.

At the moment, Galxe itself performs the Credential Type Designer role. However, additional protocol actors might design and deploy custom credential types in the future.

Thanks to the use of ZK proofs, digital identity credentials managed via the Galxe protocol allow web3 users to completely own their data and choose which parts of it to share with external platforms. For example, if you're a gamer who owns assets, points and on-chain achievement tokens within a specific gaming environment, you can choose which bits of your in-game data to share with advertisers. Instead of being exploited by advertisers and having your data harvested for free, as typically happens in Web 2.0, you can choose to share your information, or certain parts of it, in exchange for appropriate rewards from advertising brands and platforms.

While the Galxe project has always had a multichain focus, its cross-chain capabilities were further boosted by introducing Gravity, an omnichain network that supports the Galxe Identity Protocol and its applications across different decentralized platforms. Gravity is envisioned as a settlement layer for the protocol's transactions across different blockchains. Based on the 

 Nitro stack, the Gravity chain's Alpha Mainnet was launched in June 2024. The chain's final mainnet is slated for launch in 2025.

 (PoS) block validation model. The platform is designed to support multiple EVM-compatible blockchains and make cross-chain transaction settlement as efficient and affordable as possible.

Some typical use cases for Gravity include:

Galxe Quest is the platform's loyalty program development and management solution for brands. It allows web3-focused businesses to deploy blockchain-based loyalty programs easily, with no coding required. Using Quest, brands can target users through detailed on-chain analytics, streamlined user onboarding and cross-chain incentive schemes. Developers can also automatically update users' credential data, such as points or badges earned, using the Galxe Credential API.

There are also benefits for end users, who can choose which parts of their on-chain information are shared with participating brands.

According to Galxe, more than 5,700 brands and over 22 million users have used Quest since early August 2024. The recent launch of the Gravity Alpha Mainnet will likely boost ecosystem growth for Galxe Quest, and the project team has already announced that existing loyalty programs will be moved to the Gravity blockchain.

Galxe Passport is an identity management solution that leverages the platform's digital credential network. Passport allows web3 users to utilize a single Galxe ID for access to and authentication on a wide variety of blockchain platforms and apps. All user data is stored within the on-chain identifier, greatly simplifying cross-chain navigation and use.

Powered by the Galxe Identity Protocol, Passport provides a secure environment for users to transact 

, sharing only the information they deem necessary.

Galxe Score is an on-chain reputation scoring solution for web3 users that helps prevent 

 (whereby a single entity manipulates multiple accounts). It assesses users' trustworthiness via their personal reputation scores, thereby providing brands and crypto platforms with valuable signals regarding the quality of the users. Galxe’s reputation scores consider multiple data points derived from users' on-chain activities and history. The image below shows the five key dimensions used by Galxe to calculate a score for each user.

With the wild variety of apps, protocols, loyalty programs and airdrops floating around in the crypto industry, finding the optimal reward sources isn't the easiest of tasks for web3 users. Galxe Compass greatly simplifies this process by providing a unified view of the best reward sources available across the web3 landscape. Compass helps users identify the most promising 

 that run various reward schemes, such as airdrops, exclusive token sales and loyalty programs.

Ever since the introduction of ChatGPT in late 2022, generative AI chatbots have been all the rage in the business world, including in the web3 space. The Galxe team hasn't remained indifferent to these developments. Alva is Galxe's AI-powered chatbot with an X (former Twitter) extension that lets you stay abreast of the latest developments in crypto markets and the wider industry. It’s been specifically optimized to deliver crypto-focused news, real-time data and insights in response to natural language text prompts.

 (DAO). Originally, holders of the GAL token had the right to participate in the DAO's governance processes. Following the recent token migration from GAL to G, which we'll cover in more detail below, the latter is envisioned to become the DAO's default governance token.

All key decisions related to the platform's operations go through a two-step evaluation process through the Galxe DAO. At step one, a new proposal undergoes a "temperature check" process on the DAO discussion forum. This is a qualitative stage designed to gauge initial reactions to the proposal. The proposed change must be available for discussion on the forum for at least five days.

If there's enough initial support for the proposal, it moves to step two — snapshot voting. GAL holders (in the future, G holders) cast their votes to decide whether the proposed change will be accepted. Each snapshot vote must also stay open for five days. A proposal will only be passed if it receives over 50% of the votes and is endorsed by wallet addresses holding at least 2,000,000 GAL in total.

When the proposal is passed, Galxe will implement the proposed changes, which will be signed by the multi-signature wallets voted by GAL holders if deemed necessary.

Galxe's original native cryptocurrency, GAL, is a token with addresses on both the 

 (BNB) blockchains. The token's key functions include governance and paying for access to specific products and modules within the Galxe ecosystem. For instance, developers can pay in GAL to run queries on the credential data maintained by the platform.

Launched in May 2022, the GAL token is a 

 crypto, with a maximum and total supply of 200 million.

In July 2024, Galxe initiated the migration of GAL to G — the native crypto of the Gravity chain — at a fixed ratio of 1:60. G inherits most of the tokenomics properties of GAL, also being a deflationary token. Its maximum and total supply are 12 billion. G will replace GAL as the platform's governance and payments cryptocurrency. 

In order to participate in governance, G will have to be 

. G can also be staked to help secure the network, and stakers will get to earn exclusive rewards on all Galxe apps. All fees for accessing and using Galxe-based applications will be paid in G. Additionally, G will be used for gas fee payments on the Gravity blockchain.

The G token is already available on Bybit through a Perpetual contract with USDT (

). Within the contract, you can trade G with up to 25x leverage. Starting Aug 6, 2024, the G token will also be 

 market, where you’ll be able to take advantage of our 

As of Aug 7, 2024, the G token is trading at $0.03599, which is 60.9% lower than its all-time high of $0.09169, achieved on the token's launch date, Jul 18, 2024, and 33.6% higher than its all-time low of $0.02684, recorded two days earlier on Aug 5, 2024.

Long-term price forecasts for G are mostly bullish. DigitalCoinPrice 

 $0.0893 in 2025 and $0.27 in 2030, whileCoinCodex 

 that the token may go as high as $ 0.159 in 2025 but decrease slightly to $ 0.13857 in 2030.

With its rich selection of products and services, the Galxe platform and its Gravity blockchain are among the most innovative solutions in the web3 credential management niche. The Gravity blockchain, in particular, is a bold vision for omnichain decentralized credentials management.

Brands also benefit from Galxe's stack of solutions. Both Galxe Quest, which allows businesses to deploy loyalty solutions easily, and Galxe Score, which provides excellent indicators of potential users' on-chain behavior quality, can be invaluable products for a consumer-centric web3 business.

The Galxe team has proposed a variety of innovative solutions, and all eyes are now watching to see how everything works out in the real world during the Alpha Mainnet stage of the project.

Gravity (G) and Galxe (GAL): A Synergized Web3 Future

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards