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

Investing

Bitcoin

With asset classes like crypto and stocks gaining popularity, there'll certainly be bitcoin stock market correlation. Read on to see how interlinked they are.

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 was first introduced, many people thought one of its benefits would be that it was unrelated to the stock market. Investors hoped Bitcoin would be a suitable hedge – a safe place to protect funds from the volatility of the stock market. However, as the cryptocurrency has grown in popularity, many have started to wonder whether Bitcoin has a correlation to the stock market. Is Bitcoin's price affected by the stock market — and is this a good thing? Explore our guide to learn more about the nature of Bitcoin's correlation to the stock market.

The History of Crypto Correlation to the Stock Market

For the first several years of its life, there was almost no correlation between Bitcoin and the S&P 500. Until 2012, Bitcoin prices were very stable, while S&P 500 prices had their usual steady rise with some dips. The very first significant Bitcoin jump, in late 2013 and early 2014, had no corresponding S&P 500 increase. In fact, the stock market dip in late 2016 happened at the same time as a Bitcoin price increase. Bitcoin prices tended to fluctuate rapidly, while S&P 500 price changes were less drastic. Peaks and valleys for Bitcoin and S&P 500 prices showed almost no similarities until 2018 or so.

However, a look at recent Bitcoin vs. stock market charts shows far more correlation. The crypto's value doesn't perfectly mirror the S&P 500 index. However, a comparison of Bitcoin and the S&P 500 does show that there are some relationships. We can tell this by examining how the crypto behaves during volatile S&P price swings.

Over the past four years, Bitcoin has somewhat begun to mimic S&P 500 movements. During the big dips of January 2018, September 2018 and March 2020, Bitcoin prices also dropped. Interestingly, Bitcoin vs. stock market charts show that Bitcoin's drops seem to be even more drastic. While the S&P usually only experiences dips of around 10%, Bitcoin has weathered crashes of over 50%.

In the last three years, there has also been an increased incidence of Bitcoin moving when stocks rise. Overall, the correlation in Bitcoin vs. stock market charts is most drastic when stock prices drop. However, Bitcoin does seem to follow general market trends for stock stability and stock surges. Bitcoin has recently begun to mimic the stock market even more closely. In March, Bitcoin and the S&P 500's 90-day correlation reached record levels. As of 2022, there’s been no sign of a Bitcoin stock market decoupling.

Bitcoin vs. Stock Market Charts: What We Can Observe

When you take a close look at Bitcoin and Nasdaq composite prices over the past four years, the Bitcoin correlation to the stock market is even more noticeable. Based on Bitcoin vs. stock market charts, here are some of the key examples of Bitcoin’s correlation to the stock market.

What’s Causing the Bitcoin Stock Market Correlation?

There's no single reason for Bitcoin’s correlation to the stock market. Instead, there are multiple factors contributing to the similarities, based on Bitcoin vs. stock market charts. Just like the stock market, Bitcoin is closely affected by supply, demand and investor sentiments. Prices for both tend to rise when there’s high demand, positive market outlooks and limited supply. Meanwhile, prices for both tend to drop when investors worry about the future, or encounter worrying economic policies. Therefore, it's no surprise that Bitcoin tends to wax and wane with the stock market.

That being said, there are also some factors that would seem to reduce the correlation. Bitcoin isn't under the same regulations and government policies as the stock market. For example, the 2021 Chinese government shutdown of Bitcoin mining affected Bitcoin prices, but not those of the stock market. There are also technological dissimilarities, because the stock market isn't affected by data storage issues and power shortages which affect Bitcoin miners.

So why are the recent charts still showing so much correlation? The answer appears to lie in the increased connectivity of crypto and stocks. Cryptocurrency is no longer seen as a separate asset, with little reliance on the stock market. Instead, the popularity of crypto has made it very similar to traditional stock holdings. Crypto is no longer a niche asset traded by a few enthusiasts. Instead, it’s now being handled by traditional brokerages and investment institutions.

The same investors tend to invest in both crypto and stocks. Oftentimes, an investment portfolio may include both options. Furthermore, spillover from Bitcoin returns often gets invested in the stock markets, and vice versa. As the Bitcoin correlation to the stock market continues to increase, investors are becoming aware of the similarities — and making even more decisions with the assumption that crypto and stock are identical. Ultimately, the close relationship between stock and crypto investing is causing both markets to mimic each other.

The Benefits and Dangers of High Stock Market Correlation

Curious about what the Bitcoin and S&P 500 correlation means for the typical investor? There are both pros and cons to the Bitcoin stock market correlation. If there's a strong Bitcoin correlation, crypto investing becomes a lot more predictable. When Bitcoin vs. stock market charts are similar, you can more easily notice market trends and make smart choices. Furthermore, since stock values always rise in the long run, a Bitcoin correlation to the stock market could mean more long-term gains for crypto investors.

Though there are some benefits, you don't necessarily need to fear a Bitcoin stock market decoupling, which could actually be good news for investors who want to diversify their portfolios. Having two separate sets of assets that don't drop at the same time is a great way to weather financial crashes. If the Bitcoin stock market decoupling does occur, people may have more opportunities to hedge against a crash.

Ultimately, whether or not a Bitcoin stock market decoupling is a “good thing” just depends on your personal investment strategies. For those who have been using stock market predictions to make Bitcoin trading strategies, a high Bitcoin correlation to the stock market is a positive. Meanwhile, investors who haven't properly diversified their portfolios might find that Bitcoin's correlation to the stock market makes them more vulnerable to market downswings.

When dealing with investments, it's important to avoid assuming that correlation = causation. Essentially, the fact that Bitcoin vs. stock market charts look so similar doesn't necessarily mean one market is drastically affecting the other. In some cases, Bitcoin's correlation to the stock market seems to be a coincidence. For example, the March 2019 dip in the stock market was due to increased aluminum tariffs, while the March 2019 dip in Bitcoin was due to international crackdowns on crypto.

However, there’s also a lot of evidence that Bitcoin might be directly influenced by the stock market. Experts have noticed that Bitcoin prices tend to drop when the stock market opens — irrespective of other factors affecting price. Furthermore, Bitcoin's price is heavily affected by general investor confidence, which is why recent Bitcoin crashes tend to come right after stock crashes. Crypto traders who start hearing news about a stock market downturn tend to begin trading conservatively.

Will Bitcoin Decouple From the Stock Market?

If your investment strategy has  focused on Bitcoin following the stock market, you need to be on the lookout for a Bitcoin stock market decoupling. Experts predict that such an event probably won't be happening anytime soon. As more and more people begin to conflate Bitcoin charts and stock market charts, the two assets are even more likely to affect each other. At least a mild correlation to the stock market seems likely to persist for the rest of the year.

That being said, some degree of Bitcoin stock market decoupling does seem inevitable. The main reason is that Bitcoin tends to be a little more volatile. In a sell-off, Bitcoin prices tend to plummet a little more drastically than traditional stocks and recover more sharply. With stock prospects for the latter half of 2022 looking grim, there may be indications that Bitcoin’s value will begin to fluctuate at different rates than those of stocks values.

As of now, it’s hard to tell if a Bitcoin stock market decoupling will be positive or negative for crypto investors. Some feel that Bitcoin might stabilize while stocks drop, and others believe crypto values may decrease even after the stock market recovers. Either way, signs that a Bitcoin stock market decoupling might be happening include:

Bitcoin vs. stock market charts show a strong correlation between the two investment opportunities. Since both markets are becoming increasingly interrelated, it's no surprise that they're similar at the moment. However, experts believe a Bitcoin stock market decoupling will eventually happen. Investors would be wise to exercise caution and to beware assumptions of a continued Bitcoin stock market correlation.

Bitcoin Stock Market Correlation: What Do the Charts Say?

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