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

Altcoins

Crypto

Become the ultimate fan with Galatasary fan token (GAL), an innovative offering that lets you get up close and personal with your favorite soccer clubs.

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Are you a soccer (football) fan? If so, you may be glad to know that approximately 3.5 billion people across the globe share your love for the sport — on average, that’s one soccer enthusiast for every two people on the planet. Well, what if you were offered a chance to connect with your favorite soccer club, and be rewarded for your support? No, we’re not pulling your socks.

In this article, we’ll discuss everything related to 

, the concept of fan tokens and one fan token in particular — the Galatasaray Fan Token.

Socios.com is a sports fan engagement app powered by the cryptocurrency 

. Targeted toward soccer fans, the app allows them to participate in the everyday activities of their favorite club. As a fan, you’re eligible to win rewards for your participation in the form of digital assets called 

 on the Socios platform, and fans can buy or earn them via the Socios mobile app. 

As a supporter and holder of a club’s fan token, you get to vote in their exclusive club polls. These fan tokens give you the power to influence the decisions of your favorite team/club, a first in the world of sports. You can also unlock rewards, gain access to exclusive promotions involving your favorite players, connect with fan communities, and earn VIP rewards. 

Fan tokens are club-specific, with each club granted the right to only one such token. Unlike 

 and can be traded like regular cryptocurrencies. 

A well-known soccer club based on the European side of Istanbul, Turkey, 

 (Turkish: Galatasaray Spor Kulübü, or S.K.) has a rich history that spans more than a century. Members of this club are nicknamed “Lions” due to their fiery, yellow-red jerseys and reputedly fearless nature.

Galatasaray is one of the most successful Turkish soccer clubs, with over 22 winning titles in the Turkish Super League (Süper Lig). It’s also the only Turkish club to have claimed the UEFA Super Cup, winning the first such event at their prime in 2000. 

 is the official Fan Token of the Galatasaray Sports Club. The price of one GAL is around $4 at the time of this writing. 

Powered by the Chiliz token, CHZ, Socios.com serves as a platform for clubs and sporting teams to launch their official fan tokens. As mentioned, fan tokens are collectible digital assets designed to allow fans to reap rewards for their loyalty to a club.

These fan tokens are minted on the Chiliz blockchain and are circulated in the crypto market. Fans can either buy these tokens or find them in an innovative way, which we’ll discuss in the upcoming section of this article. The Socios.com platform is simple to use, and allows fans to enjoy closer connections with their favorite clubs.

The Socios app is powerful and enables passive fans to become active, providing sports organizations the opportunity to monetize their global fan base in a seamless manner. In 2021 alone, fan tokens have made over 

At their core, fan tokens are utility tokens that offer their holders and issuers several benefits.

Clubs use their official fan tokens to carry out regular polls among their fans. If you’re holding a club’s fan tokens, you can have a say in many club-related decisions, such as the design of its official kit, or the color of the jersey for an upcoming charity game. 

As a fan token holder, you’ll receive many opportunities, such as a “grant of access” to the stadium during team warm-ups and practice games. Without these tokens, you have to pay to watch practice games, and access is limited when it comes to watching team huddles and warm-up sessions of your favorite players. 

Fan tokens allow fans with significant holdings to meet the team members of their favorite club — and even to have online meetings with them. As a holder, you also get a chance to win VIP tickets to watch crucial matches. 

Another benefit of owning fan tokens includes the chance to win game tickets and merchandise. However, the main purpose of this token is to enhance the interaction between clubs and their fans.

Club owners can monetize their potential fan base, which is difficult in the absence of fan tokens. 

Apart from allowing clubs to launch their official tokens, and fans to buy their preferred fan tokens, the Socios platform offers the following key features. 

Typically, you have to purchase CHZ and fan tokens using crypto or fiat money. However, there is a feature embedded within the Socios platform that allows you to earn fan tokens for free. Using its 

, you can acquire fan tokens and CHZ tokens without spending any additional money.

Once you install the Socios app, its augmented reality (AR) technology allows you to scan your surroundings to collect CHZ, Socios Loyalty Tokens (SSU) and other fan tokens. (Think 

 a game which became popular in early 2016.) The best part about this feature is that it’s global — you can participate in the token hunt regardless of where you are physically in the world.

There’s no denying that the crypto market is 

 most volatile financial market. This is one of the major risks of trading in crypto. However, as the saying goes, ”Where there’s high risk, there’s high reward.” Volatility can be a huge opportunity for those who can tolerate it — and know how to deal with it. FTOs are based on the future volatility of fan tokens. 

FTOs take place within a predetermined, limited period. Club owners offer for sale a fixed number of fan tokens at a fixed price. Fans can purchase this token even before it goes live on the Socios marketplace. Once the tokens have been released, fans can profit if the token price appreciates due to volatility. This is in fact the case most of the time, as the price set for fan tokens in an FTO is lower than when they go live on the Socios marketplace. 

Apart from these features, the Socios app has many others as well which focus on delivering the best possible experience for fans. Some examples are fun rewards, trading of fan tokens, 

Note: figures below are accurate as of this writing, and are approximated up to one decimal place.

Are Galatasaray Fan Tokens (GAL) a Good Investment? 

Investing in any fan token is a great idea at this point, because fan tokens are in their nascent stage and have plenty of room to develop/grow. The GAL token’s limited supply of 10 million makes it an attractive asset to invest in. According to 

, the GAL token has the potential to reap double-digit profits in less than a year. The GAL market is currently bearish; therefore, it could be the right time for you to buy the dip if you see potential in the token. Note: please do not consider this as investment advice. As with any asset, invest only if you can withstand the volatility and high level of risk involved. 

You can buy the GAL token on popular cryptocurrency exchanges like Bybit. Simply follow the steps below.

You can access the Bybit Spot Market once verification has been completed. Please note that the GAL token is paired with USDT on the Bybit exchange. Therefore, you need to hold USDT in your Bybit wallet to purchase GAL. As you probably know, USDT is the most used 

 globally, and you can buy any crypto asset on Bybit with USDT. USDT can be purchased within a few minutes using fiat currency with your credit/debit card.

 Once you have USDT in your Bybit spot wallet, you can visit the Spot Market section and search for the 

, place your trade, entering the price at which you want to buy GAL. Make sure to enter the amount of GAL you want to purchase, and click 

. When the price of GAL reaches your desired price, the order will execute. 

Once done, you should see your GAL tokens in your Bybit 

. You can hold them there for trading, or transfer your funds to a hardware wallet for secure storage. 

Socios.com is a revolutionary platform that allows you to truly live out your fanboy/fangirl dreams. Platforms like Socios.com are essential to the holistic development of cryptocurrency mainstream adoption. 

There’s no better way for crypto to enter the sporting world than with fan tokens, as their purpose is to bring fans and their favorite clubs together. The success of Socios.com also proves that the world is ready for crypto adoption in different industries — and it’s just a matter of time before it truly becomes mainstream. 

Explained: The Galatasaray Fan Token (GAL)

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards