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

web3

Bybit Web3 wallets are specialized tools designed to enhance user interaction with the decentralized internet. Learn more about how each of them works here.

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Exploring the unlimited opportunities in Web3 safely with the right wallet that suits your needs.

 represents a significant evolution of the internet, introducing a decentralized framework that shifts control and power back to users through 

. At the heart of this transformation is Bybit. We not only offer offer advanced trading solutions, but also facilitate seamless access to the burgeoning world of web3 through our diverse array of 

In this article, we’ll explore the different types of Bybit Web3 wallets available and help you understand and select the 

 to secure your digital assets while navigating the decentralizedweb.

Bybit Web3 wallets are specialized tools designed to enhance user interaction with the decentralized internet. They prioritize security, ease of access and reliability, enabling users to manage digital assets efficiently in the web3 space.

As users have varied needs, Bybit Web3 offers several types of wallets. Each of them is tailored to different preferences in terms of security, usability and control.

Cloud Wallet — For Beginners and Those Seeking Max Convenience

Bybit’s Cloud Wallet offers the utmost convenience by delegating the management of 

 to Bybit’s secure cloud infrastructure. This 

 wallet is ideal for newcomers to the cryptocurrency world, as well as those who prefer not to engage in the technicalities of private key management. The Cloud Wallet ensures that your assets are safeguarded by Bybit’s state-of-the-art security protocols, providing peace of mind and freeing you from the responsibilities of direct key management. Simply log in after creating to use it.

Seed Phrase Wallet — For Maximum Security and Control

 wallet that can be imported to Bybit Wallet with a seed phrase or private key. 

The seed phrase, which is a unique combination of words generated at the setup of the wallet, is used as the encryption key. This phrase is essential for accessing and recovering your assets, so you should store it securely. Ideal for users who prefer complete autonomy over their security, the Seed Phrase Wallet requires thorough understanding and responsible management of the seed phrase to prevent unauthorized access.

Keyless Wallet — A Balance Between Security and Simplicity

Innovating beyond traditional security measures, Bybit’s 

 is a noncustodial wallet that removes the need for a seed phrase and instead incorporates MPC technology to secure your private keys. This design caters to users who seek both security and simplicity, reducing the risk of losing access due to forgotten seed phrases or keys. It’s a perfect choice for those who value quick and secure access to their assets without the complexity of traditional methods.

Seed Phrase Wallet vs. Keyless Wallet vs. Cloud Wallet

The chart below explains the key differences between the Bybit Seed Phrase Wallet, Keyless Wallet and Cloud Wallet. 

The Keyless and Cloud Wallets require the creation of a Bybit account prior to usage. In contrast, the Seed Phrase Wallet doesn’t require a Bybit account, offering a more flexible approach for those who prefer minimal platform dependency. Importantly, none of these wallets require identity verification, simplifying the setup process while maintaining privacy.

Custody is a critical factor when choosing a wallet. The Seed Phrase Wallet is noncustodial, granting you full control over your seed phrases and private keys. This option is ideal for users who prioritize complete autonomy over their assets. The Keyless Wallet, while also noncustodial, introduces a dual key-share system enhanced by a recovery password. This system splits the control of private keys between Bybit and the user’s encrypted cloud storage, balancing security with recoverability. In contrast, the Cloud Wallet uses a custodial solution where Bybit assumes responsibility for the private keys, offering a straightforward and less technical user experience.

Accessibility across platforms is essential for seamless user experience. All three wallets are accessible via both the Bybit app and web interfaces. However, the Seed Phrase Wallet and Keyless Wallet can only be created through the Bybit App. Through the web version, you’ll be able to connect your Seed Phrase Wallet and Cloud Wallet via the Bybit Wallet Extension and WalletConnect, respectively.

In terms of functionality with web3 events, the Seed Phrase and Keyless Wallets currently support Bybit Web3 Swap and various 

. Future updates will expand their capabilities to include Bybit Web3 IDO and Staking. The Cloud Wallet, however, already supports a broader range of Web3 features, providing a more comprehensive service offering.

Security is paramount across all wallet types. The Seed Phrase Wallet employs encrypted storage solutions, such as iCloud or Google Drive, to safeguard your seed phrases, while the Keyless Wallet utilizes a multi-point storage strategy to secure private keys across several secure points. The Cloud Wallet, managed entirely by Bybit, adheres to standard security protocols to protect user assets.

When it comes to usability, the Cloud Wallet stands out for its ease of use, making it an excellent choice for newcomers to crypto or those who prefer convenience. The Keyless Wallet strikes a balance, offering more control than the Cloud Wallet, but with less complexity than the Seed Phrase Wallet, which demands a higher level of technical understanding, suited for those who are comfortable with direct management of their security details.

Safety level varies with each wallet type. The Seed Phrase Wallet offers the highest degree of security, designed to appeal to users who want maximum control over their digital assets. The Keyless Wallet provides substantial security with slightly less user responsibility, whereas the Cloud Wallet, while secure, places the least burden on the user by managing security protocols on their behalf.

Bybit Web3 Wallets are connected with over 30 chains. Each wallet supports different blockchain networks, which can be 

 by connecting to the respective wallet through Bybit's platform. 

The Seed Phrase Wallet offers extensive cross-platform compatibility, allowing users to import and export seed phrases or private keys to and from other wallets, thus enhancing its versatility. In contrast, the Keyless and Cloud Wallets are designed specifically for integration with the Bybit Web3 platform, focusing on a seamless user experience within the Bybit ecosystem.

This comparative overview provides insights into choosing the best Bybit Web3 wallet for you based on your specific needs, whether you prioritize security, ease of use or flexibility.

Determining the best wallet for your needs depends upon several factors, including your level of comfort with technology, your security requirements and how you intend to use your crypto assets. The Seed Phrase Wallet is unmatched for maximum security and control. If convenience is your priority, the Cloud Wallet offers a hassle-free solution. For a balance of security and ease of use, the Keyless Wallet is ideal.

Bybit’s diverse selection of Web3 wallets ensures there’s an option suitable for every type of user — from blockchain beginners to advanced traders. Each wallet type is engineered with specific features to cater to different needs, ensuring that you can navigate the web3 space with confidence, security and ease. As the digital landscape evolves, choosing the right wallet for you will be instrumental in your journey through the exciting and decentralized world of web3.

The Ultimate Guide to Choosing the Best Bybit Web3 Wallet

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Grab Up to 5,000 USDT in Rewards