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

Altcoins

Cult DAO is a DAO focused on sponsoring blockchain-based crypto projects that continue the advancement of the decentralization revolution. Find out more here.

CULT_Tokenomics.png

 is all about revolution. More precisely, it’s about investing in revolution. The anon team driving the Cult network is serious about community and decentralization, and they want to see the collapse of the old financial system. If this sounds interesting to you, you’re in luck. Today, we’re going to jump right into this growing crypto movement by going over exactly what Cult DAO is, how it works, where it’s going, and how it’s fighting for freedom and a decentralized future through innovative solutions.

 revolution, Cult DAO serves to empower people to “break away from societal, economic and other norms.” To do so, Cult provides its users with the support and tools necessary to launch DeFi-oriented projects. In fact, users can actively vote on whether or not to fund 

To help create and sustain a completely decentralized economy, the DAO’s blockchain protocol employs a tradable and liquid token known as CULT. The CULT token powers the Cult DAO organization and fuels its decentralized funding mechanism. Unlike certain deflationary coins on the market, the Cult developers claim the token is not a speculative currency or charity token.

Cult DAO began as a means to revolt and free you and everyone else from the chains that bind us. It began with the realization that we exist today simply as a cog in the system; as a means to no end other than to enrich the central banks by serving an economic function.

The primary focus of central banks is maximum employment. The primary focus for many of us, however, is freedom. Whether it’s from the freedom to decentralize by investing in 

 technology, or the freedom to love who you love, what we all desire more than anything else is freedom. Out of this quest for freedom, Cult DAO was born.

Knowing we all can’t live out in the woods, Cult DAO founder, Mr. O’Modulus, released 

 and launched the autonomous organization in early 2022. In The Cult Manifesto, he mentioned that by launching Cult DAO, the “world’s first completely decentralized token” was made available for “those contributing or building toward a decentralized future.”

The concept of Cult DAO was to become the first completely decentralized funding mechanism to sponsor those eager to contribute to breaking society’s ties. Putting this concept to work involves the transaction and exchange of CULT, the Cult DAO token, in order to continuously provide project funding, pay investors and continuously replenish the treasury.

Mr. O’Modulus discussed this concept in a recent 

"Society is designed to make it as difficult as possible to break away from economic, societal, and social norms. So, what if supporting the $CULT ecosystem could be in itself a full-time or part-time job?"

This concept led to the development of an autonomous, self-governing ecosystem built around rewarding large-scale contributors, called “The Guardians,” and those who contribute at a smaller yet equally important level, known as “The Many.” Any CULT tokens earned can be used for 

According to Mr. O’Modulus, the Cult DAO protocol “exists to allow The Many to not have to rely on wage labor fully, or in part, and to fill the gap and pay users, to further the cause of decentralization and the CULT ecosystem.”

In other words, Cult DAO wants to help users achieve financial freedom by furthering the expansion of decentralization. It seeks to create a revolution by talking about Cult, staking CULT, and creating a decentralized financial ecosystem that permeates popular culture.

Cult DAO takes decentralization seriously. As evidence, the private keys to the funds held within the DAO are not held by DAO members. Instead, the DAO operates independently and is entirely controlled by non-upgradable 

These smart contracts send out 13 ETH investments to each Guardian who submitted a proposal and received a successful 

 vote. To become eligible for funding, a proposal must fulfill the following three criteria:

• Advance the cause of decentralization

Only The Guardians can submit proposals. If a proposal meets at least two of the three conditions, The Many, who comprise the rest of the DAO, can then place their votes on whether to approve the proposals and support investments.

A burning mechanism is also in place to act as an incentive. For every 15.5 ETH raised, 2.5 ETH of CULT is burned. The remaining 13 ETH goes to the cause or protocol of the investee.

The investee token is then redistributed according to the proposal, with full distribution transferred to the CULT token once a day, one a week or whatever the agreed-upon rates of disbursement may be.

The Guardians are Cult DAO’s top 50 individuals who hold the most CULT tokens. As a result of their history staking Cult, they’re given the honorable task of creating, safeguarding and sending proposals to The Many. Since they have larger token shares and pull considerably more weight than other token holders, they can voice their opinions of any sent proposals, but can’t use their wealth to influence others.

From a business perspective, Cult DAO is a venture capital fund, except that it’s decentralized and based entirely on blockchain. Other than that, it works much like a VC fund: Proposals are voted on by the community; community members participate as crowdfunding investors; and the community receives the investment returns as dividends in the form of Cult DAO tokens.

All that said, Cult DAO is no ordinary crypto, DApp or VC fund. It features a blatantly provocative manifesto; a decentralized governance model for proposals and voting; unchangeable smart contracts; and zero private key access. It also features the CULT token, RVLT token, a burning mechanism and more, to take decentralization to the extreme.

Cult DAO is an autonomous self-governing ecosystem designed to reward large-scale contributors — The Guardians — and those who contribute on a smaller yet equally important level.

According to Cult DAO’s governance model, members pledge CULT to receive dCULT that corresponds to voters’ governance rights. The top 50 stakers become The Guardians and are able to make proposals. All other CULT stakers become The Many, who have the right to vote on the proposals forwarded by The Guardians.

dCULT is the proof of staking token for CULT. When staking your CULT into the DAO, you’re granted dCULT, which you can then exchange for the CULT you originally staked. However, as a “thank you” and an incentive for holding dCULT, you’re eligible to receive a portion of the token paid into the DAO.

That’s right. You can only earn dCULT by staking CULT. In fact, staking CULT is the foundation of the whole protocol. Users receive dCULT tokens as a form of security deposit for staking CULT. Redemptions against the original staked amount can be made at any time.

Voting rights or staking rewards are granted only to those who have staked tokens. However, staking doesn’t require the depositing of funds. Each transaction helps advance the project, while each token burn helps reduce and manage the number of coins in circulation.

The token distribution and burn plan facilitates the vesting schedule for the protocol’s token. When The Many accept a project proposal, 13 ETH go to the proposal wallet address and 2.5 ETH are sent to a burning wallet.

On a larger, more general scale, 10,000 tokens are burned for every 60,000 raised. This is combined with a 50/50 redistribution model, in which half of the tokens are redistributed back into circulation and the other half are burned.

As you already know, only The Guardians can submit proposals for a vote. However, proposals can come from anyone, including other community members, venture capitalists, politicians, anarchists and so on, as long as they conform to Cult DAO’s three criteria: All proposals must fight against centralization, advance the cause of decentralization and benefit a noble cause.

In addition, a proposal submitted for voting must also include:

• The total number of investee protocol tokens

• The total supply percentage being offered for a 13 CULT ETH investment

• A token audit and an audit of any smart contracts if created

The concept of revolting against the establishment by furthering decentralization led to the development of an autonomous, self-governing ecosystem built around rewarding those who further the cause. To do so, Revolt 2 Earn (RVLT) was born.

RVLT is the first token of the Cult DAO ecosystem. It was built as a POS (proof of stake) token on the 

 blockchain. While the CULT token funds the accelerating decentralization of the DAO’s protocols, RVLT supports individual Cult DAO users working toward the same goal. This serves the DAO’s belief that individuals, or a small group of like-minded people, can shape their shared vision of the future.

CULT has a maximum supply of 6,667 billion tokens and a market cap of 54.8 million tokens.

With CULT transactions, 0.4 percent of each transaction’s CULT value is sent to the DAO treasury. The treasury places the CULT into a smart contract, which removes the CULT from circulation and releases it back into circulation according to a predetermined maximum level.

As mentioned previously, Cult DAO also destroys 2.5 ETH for every 13 ETH sent to the protocols and employs a 50/50 redistribution model that burns half of the tokens and sends the remaining half to dCULT token holders.

An interesting note about CULT is that when it declines in value against Ethereum, the quantity of CULT to be burned increases. So too does the steady volume of CULT taken out of circulation and placed in the treasury. In other words, the longer CULT remains bearish, the faster it is burned and pulled from circulation.

This means that every time CULT is in the red versus Ethereum, the amount of time needed for it to climb back into the green is reduced. Every sell and potential price drop simply transfers the value from short-term CULT holders to investors with the patience to hold on through the inevitable dips and swells. To put it plainly, the tokenomics of CULT are designed to weather and even profit from the coldest conditions any crypto winter can dish out.

Price forecasts for cryptocurrencies are often wrong due to their volatility. However, according to several reputable websites specializing in crypto price predictions, the short- and long-term outlook for CULT remains steady and strong across the board.

 expects CULT's market value to close 2022 at $0.00002112 and reach $0.00003390 by July 2023. By July 2026, it forecasts the token will reach $0.00005967.

 predicts the token will hit $0.0000204 by the end of this year and $0.0000231 the following year. What’s interesting is that they forecast the price to dip and gain while hovering around this price until 2026, after which they expect the token to climb year after year until it reaches $0.0000827 in 2031.

, on the other hand, is more upbeat. According to the site, CULT will reach $0.0000365 by July 2023 and continue to shoot up to $0.00015 over the next five years. Following this forecast, a $100 investment today should be worth over $1,000 by 2027.

Of course, any price predictions should be taken with a grain of salt. While the general trajectory of CULT seems to be pointing upward, you should study the market and only hold long-term if you have a healthy risk appetite and nerves of steel to weather short-term spikes and dips.

, or any popular crypto exchange with a large user base and decent daily trading volumes.

If you live outside the U.S., you can purchase CULT on Bybit in four easy steps:

When working with a major exchange, such as Bybit, that has access to altcoins like CULT, that’s really all there is to it. There are fewer hoops to jump through, allowing you to invest in decentralization — and freedom — in no time at all.

Whether you invest in Cult DAO depends on your view of DeFi and personal risk appetite. Based on past price history, CULT may drop three percent one day and gain nearly 100 percent in one month. CULT is viewed from a long-term investment point of view, in which short-term losses and gains can be experienced, much like Bitcoin, Ether and other cryptos.

Cult DAO is seeking to fast-forward the upheaval of the global financial system. To do so, they fund revolutionaries looking to do the same. With strict governance and use of CULT, dCULT and RVLT tokens, Cult DAO continues to grow into a strong decentralized community in search of the one thing we all cherish: Freedom.

Cult DAO (CULT): A Fight for Decentralization & Freedom

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards