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

Trading

Strategies

Some of the 10 best crypto day trading strategies include: high-frequency trading, long straddle, and scalping. Read on to find out more about them. 

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Day trading cryptocurrencies can be an exhilarating activity for traders. However, it’s also one of the more difficult time frames to trade. Cryptocurrencies tend to exhibit higher intraday volatility than in many other financial markets, thereby requiring a greater level of skill to trade short time frames successfully. 

As we navigate this dynamic landscape, we want to equip ourselves with the most effective strategies to maximize our gains and minimize risk. In this article, we’ll delve into the realm of crypto day trading and present a list of the top 10 strategies to consider. Whether you’re a seasoned trader or just beginning your trading journey, get ready to explore the fast-paced arena of crypto day trading.

Crypto day trading is defined by a trader’s expectation of entering and exiting a trade within the same day (also referred to as intraday, or one-day time horizon). Therefore, being able to interact with intraday price dynamics is critical. How a trader engages the market during the time horizon will depend on the strategy deployed.

Nevertheless, in general, traders will be looking for smaller price movements based on intraday market behavior. By trading intraday, traders can use tighter risk parameters than for longer time frames and adjust their allocation size accordingly, since the average size of a trade is larger than that used for a longer time horizon, given the smaller expected movement. In addition, there are no overnight holds in day trading, so that risk is eliminated.

 (HFT) is driven by automated mathematical algorithms that execute orders in fractions of a second based on pre-set criteria. These algorithms manage a high volume of orders, aiming to capitalize on minute price movements over extremely short time frames (often mere seconds or fractions of a second). The lightning-fast speed of HFT necessitates the use of trading bots. By handling substantial order sizes, HF traders contribute to the liquidity of the cryptocurrency market. The primary objective of a high-frequency trader is to optimize speed and minimize transaction costs, prioritizing efficient execution and cost-effective transactions.

 is a day trading options strategy that looks to profit from market volatility. It involves buying both a put and call contract for the same cryptocurrency, with the same strike price and expiration date. This strategy may also be referred to as a straddle or option straddle. In a long straddle, it’s expected that while one side of the trade may result in losses, the profit gained from the winning position will outweigh those losses, leading to an overall net gain.

Scalpers capitalize on short and rapid price movements, often utilizing automated bots to increase trade frequency in order to profit from tiny price fluctuations through resale. Compared to longer time frames, 

 involves higher frequency, larger trading volumes and bigger positions, as the targeted price changes are relatively smaller. Consequently, it’s essential to consider trading costs, as they can consume a significant portion of the trader’s revenue.

Scalping can be risky, as reliable patterns become more difficult to identify and exploit within a shorter time frame. Therefore, scalpers need to adhere to a strict exit strategy, ensuring that a single substantial loss does not negate the multiple small gains achieved.

Scalping can be approached in two ways. The first approach involves executing many trades at high volume to capitalize on concise and fast price movements. The second approach adopts a slower trading process, relative to high-frequency scalping, and focuses on slightly larger but still relatively small price movements, a lower number of trades, smaller position sizing and slightly longer holding periods.

Cryptocurrency markets are constantly oscillating between trending and consolidation environments. 

 involves leveraging consolidation periods to profit from a predefined price range. The range is defined by key levels of support and resistance, often represented by classic consolidation patterns such as 

 traders aim to capitalize on short-term price discrepancies between different cryptocurrency exchanges. They look to buy crypto on one exchange and swiftly sell it on another at a higher price. Alternatively, for shorts, they‘ll sell on one exchange and buy on another to close the position. Speed is crucial in crypto arbitrage trading, so automated tools are frequently used to swiftly seize arbitrage opportunities across exchanges. To fully optimize returns, keeping trading costs low is vital given the large volume of transactions.

 primarily uses chart patterns for trading strategies and risk management protocols. It operates on three principles: 

1) The market discounts everything. 2) Prices move in trends and countertrends. 3) History repeats itself.

The idea is that price action is repetitive, with certain recurring patterns that can then be used as a tool to navigate markets.

There are many ways to deploy a strategy based on technical analysis, including the use of technical indicators or studies, which are usually based on price and/or volume. The key lies in identifying specific price patterns that can give a trader an edge. There are two fundamental approaches to using technical analysis: trend following and countertrend trading.

Trend-following traders look to capture a prevailing trend as much as possible. The type of trend they focus on depends on their primary time horizon, which can be short, intermediate or long-term. Trends can be traded on any time frame chart, and traders frequently rely on trend indicators such as 

Price movements occur in trends, consisting of price advances in one direction (up or down) followed by retracements or countertrend moves. Countertrend traders seek to capitalize on these corrections within larger trends. This is considered a somewhat riskier strategy than trend trading, and requires greater skill. By trading against the larger trend, countertrend traders take on more risk, as they’re going against the dominant force (up or down) at the time.

 is crucial. It drives the rise and fall of markets based on changes in the confidence of market participants. Market sentiment represents the collective attitude of investors and traders toward a specific financial asset, or the overall market. By analyzing market sentiment, traders can identify changes in attitudes and confidence that can influence changes in supply and demand, and, consequently, prices. Some elements of market sentiment analysis include the Fear & Greed Index, Bitcoin dominance ratio, news, social media and Google Trends.

 acts like an emotional meter, measuring market sentiment on a scale from fear to greed, and everything in between. Traders closely monitor it for extreme readings in order to predict price movements. Excessive fear can lead to buying opportunities, as the sentiment may be on the verge of reversing. On the other hand, extreme greed indicates an overly bullish sentiment that may be due for a correction. 

The index uses a variety of inputs, including coin dominance, momentum and volume, social media, Google Trends and measuring volatility.

 (market value) of Bitcoin to the total market cap of the entire cryptocurrency market. This ratio wields an influence over the overall market, as many smaller capitalization coins follow Bitcoin’s trend or have some connection to it. A declining ratio suggests that altcoins are doing better relative to Bitcoin.

Monitoring news that might impact cryptocurrencies is another way to assess sentiment by looking at the ideas and points of view expressed. This can give traders a feel for attitudes in the market, and can be used as a complement to other analyses. Keeping track of news feeds in an 

) can expedite the review process. There are also subscription-based, event-driven news services that use sophisticated computer algorithms to identify news activity that might move a crypto token.

Observing social channels can provide insight into market sentiment. One way to do this is to use monitoring software, such as TweetDeck for Twitter. You can categorize and organize feeds to keep track of activity by sources you’ve deemed to be credible. This can help reduce the “noise” so that you mostly see posts and comments from your selected sources.

Social media sentiment indicators aggregate data from various social media sites, and then they analyze it to identify trends or increased activity related to a specific cryptocurrency, industry, region(s) or countries. 

Google Trends can be used to see how crypto-related topics or tokens are trending in Google Search. Analyzing whether certain searches — such as “bullish on Bitcoin” — are trending higher or lower may provide useful insight into the expectations and outlook for Bitcoin.

While long-term position trading may not be the main focus for all active day traders, it can still play a role in their approach. To execute this strategy, the larger time frame is analyzed by including monthly and quarterly price charts. If a trade setup triggers on a monthly chart, it’s expected to be held for a longer period of time than with many other strategies. The longer time horizon is necessary in order to exploit the potential price movement and fully maximize gains.

Breakout traders look to enter a trade when the price breaks out from a particular level, aiming to capitalize on the rapid acceleration in the direction of that movement. Breakouts can occur in either an upward or downward direction (breakdowns). The setups may include breakouts of trend reversal, or continuation patterns; price breaking out through a moving average; or prices establishing a new high or low trend.

A pullback strategy incorporates trend and pattern identification in its analysis. The objective is to enter a trend just as it’s about to resume its primary direction. This strategy can be used in both uptrends and downtrends. It relies on proficient analysis of key support levels and a technique to determine when the pullback is complete, signaling a potential reversal setup.

Three Tips to Successful Crypto Day Trading

This depends on the individual trader, though in general, trading over a shorter time frame is considered more complex than over a longer time frame. Therefore, day trading is more involved than holding assets for more than a day.

There is no universally superior day-trading strategy, as each trader is unique and needs to select a strategy that aligns with their understanding and comfort level. Some of the strategies more widely used by independent traders include technical analysis, scalping and range trading.

This depends on various factors, such as a trader’s experience level, skill and account size. Generally, it’s advisable to start trading in a lower-risk environment by choosing larger-cap coins with relatively high levels of volume. A good starting point to consider is the list of top 30 cryptocurrencies (based on market cap). You can then further narrow it down to your preferred choices from this list. If you seek more intraday volatility, then expand the list to include the next 30 cryptos by market cap.

10 Best Crypto Day Trading Strategies in 2023

Grab Up to 5,000 USDT in Rewards

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