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

sui name service (suins).png

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

Intro to Santiment.png

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.

market maker.png

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

4.png

SEC Chair Gary Gensler to Resign on Inauguration Day, Marking a Win for Crypto Lobby

Bybit Learn

web3

Leveraging Telegram’s massive user base, TON has experienced exponential growth in community size and activity, serving as a bridge between Web 2.0 and web3.

2401-T16454_Skinny_Banner_for_Blog_and_Learn_Row_53_728x90.png

Skinny_Banner-1600x400.webp

The TON (The Open Network) blockchain isn’t just another player in the field of digital technologies. It represents a significant leap toward making decentralized networks more accessible and functional for the general public. 

Originally aligned with Telegram, one of the world's largest messaging platforms, TON has since evolved into a rich ecosystem that spans numerous applications and technologies, fostering a new era of internet freedom and utility. This article provides a detailed exploration of the TON ecosystem, its origins, its integration with Telegram, its numerous successes and its prospective future in the rapidly evolving digital landscape.

, or The Open Network, is a blockchain platform engineered to optimize scalability and user-friendliness, thereby facilitating more effective and accessible DApps and smart contracts.

The roots of TON are deeply entwined with the vision of Telegram founders Nikolai and Pavel Durov, whose project was initially launched in 2018 as part of an ambitious plan to extend Telegram’s offerings into the blockchain space. The idea was to create a decentralized network that could not only handle mass private communications but also support a wide array of 

TON aimed to resolve common blockchain bottlenecks, such as high transaction fees and slow processing times, by presenting a solution that could scale as needed without compromising on speed or security. The network introduced unique features, including dynamic 

 processes to enhance its capabilities and ensure smooth processing even under the strain of millions of transactions.

However, the journey wasn’t without its challenges. TON faced significant scrutiny from regulators, particularly from the U.S. Securities and Exchange Commission (SEC), which halted the project’s momentum in 2019 by deeming its $1.7 billion 

 illegal. This regulatory pushback led to a temporary suspension of the project.

Despite these hurdles, the development of TON continued under a new banner, led by the community and other independent developers. In 2020, the network was relaunched as The Open Network by its community, marking a new chapter free from the direct involvement of Telegram, yet still benefiting from the association due to the shared user base and ongoing compatibility with Telegram’s infrastructure.

While TON originally emerged as an integral component of Telegram’s ambitious blockchain initiative, it has since evolved to operate independently, though it maintains a synergistic relationship with Telegram. This connection is pivotal and harnesses the extensive reach of Telegram’s global platform, which is instrumental in facilitating the rapid adoption and widespread use of TON’s blockchain solutions. Such a strategic alliance enables TON to integrate seamlessly with Telegram, offering users an intuitive gateway to explore and utilize blockchain technologies directly within the messaging app. 

This relationship not only enhances user familiarity and comfort, but also significantly expands the potential applications of TON’s blockchain by making it accessible to Telegram’s user base without the need for separate applications or complex interfaces. Integration strategies such as this one are key to onboarding Web 2.0 users to the web3 ecosystem, providing them with a frictionless transition and familiar interaction paradigms within the secure and versatile framework of TON’s blockchain.

TON has marked several milestones since its inception, in addition to overcoming regulatory challenges and innovating through community-led development. The integration of 

 on the Telegram platform has been a significant victory, merging entertainment with earning opportunities and introducing blockchain functionalities to everyday users.

TON has experienced tremendous growth over the months, and is currently the ninth-largest cryptocurrency, with a market capitalization of $13.2 billion and a fully diluted valuation of $26.9 billion. Its 24-hour trading volume stands at $777.9 million (as of Aug 5, 2024).

The integration of the TON blockchain with the well-established Web 2.0 messaging app Telegram has emerged as a pivotal strategy in TON's success, leveraging Telegram's extensive user base to ease the transition to web3 technologies. This strategic partnership capitalizes on the familiarity and vast reach of Telegram, which boasts around 900 million users globally. Thus, it provides a seamless on-ramp for Web 2.0 users to blockchain and crypto functionalities without the need for a new app or learning curve​.

TON effectively utilizes Telegram’s infrastructure to engage users directly where they communicate daily. This has been particularly effective for promoting user-friendly blockchain applications such as Telegram mini apps that integrate directly within Telegram, allowing users to interact with various blockchain services effortlessly. These apps include novel 

, a standout in TON's array of offerings, initially kick-started user engagement by attracting over 30 million users shortly after its introduction. This was part of a broader strategy that capitalized on Telegram’s extensive user base, making TON's DApps more accessible and popular among the platform's 900 million active users​.

 itself attracted over 18 million users in a month, with 6 million actively connecting their wallets, thus demonstrating the global reach and active participation TON has achieved across over 200 countries​.

Additionally, the integration of TON with Telegram has significantly contributed to community engagement, particularly through popular Web 2.0-to-web3 transitions like the on-chain game 

. This game alone has successfully attracted 40% of Telegram Premium users, showcasing TON’s effective strategy in leveraging existing Web 2.0 platforms to onboard users to web3. This integration has not only enhanced visibility but also solidified TON's position as a leader in merging blockchain technology with mainstream platforms.

) also recently surpassed $760 million on Jul 20, 2024. This marked a significant milestone, showcasing increasing investor confidence and active participation in the network's financial activities​. This surge is largely driven by investor excitement over various incentives, including 

, which have become a popular mechanism to attract and retain users on the platform.

 have set high standards for gaming protocols on the TON blockchain. MomoAI has emerged as a leading web3 social gaming platform, noted for its innovative approach to community crowdfunding. This initiative allows the community to reclaim venture capital shares for a fairer launch process, setting a new precedent in the blockchain gaming sector.

Moreover, protocols like Dedust and STON.fi have greatly contributed to the growth of TON's DeFi space. STON.fi, holding the highest TVL on TON (

), showcase the robust financial activities and the trust the community places in TON's financial mechanisms.

TON has been proactive in expanding its ecosystem through significant technical and strategic developments. The anticipated TON Applications Chain (TAC) and the integration of a Bitcoin bridge highlight the network's commitment to enhancing its infrastructure to support more complex operations and ensure seamless user experiences.

Moreover, collaborations with entities like 

 and the Triangle web3 startup accelerator highlight TON’s efforts to foster innovation and support early-stage projects within its ecosystem.

Despite these advancements, TON faces challenges, particularly in sustaining the volumes of its DApps. 

 (DEXs) such as DeDust and STON.fi, while holding substantial TVLs, have seen fluctuations in activity levels, suggesting that sustaining user engagement remains a complex endeavor​​.

Critiques have also emerged around the strategy of using airdrops to boost user numbers, with concerns about the long-term sustainability of such growth tactics. TON’s focus on incentivizing participation through airdrops has been effective in the short term, but poses questions about the genuine, sustainable adoption of the platform's offerings.

TON's ecosystem is emerging as a powerhouse of innovation and user engagement, rooted deeply in Telegram's vast Web 2.0 user base. With a vision clear and geared toward the future, TON is uniquely positioned to bridge the gap between Web 2.0 and web3, facilitating a seamless transition for users into the blockchain world. This strategic alignment with Telegram not only leverages existing user familiarity, but also simplifies the introduction to decentralized technologies, making TON a pivotal player in the evolving technological landscape.

Looking forward, TON's adaptability and proactive approach to integration are set to drive further growth and spur continuous innovation. With its commitment to lowering the entry barriers for Web 2.0 users into Web3 applications, TON stands at the forefront of the blockchain evolution, making it an essential focus for anyone interested in the future of blockchain and decentralized technologies. This strategic positioning is likely to catalyze significant advancements in the ecosystem, enhancing its appeal and functionality, thereby ensuring TON remains central to discussions about the future of digital interaction and finance.

Decoding the TON Ecosystem: Telegram's Push Into Blockchain

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards