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

Crypto

Looking to make your first crypto investment, but feeling uncertain about the risks involved? Go for the middle ground that's PAX Gold, a hybrid between the physical and virtual.

 have gained popularity in recent years, physical commodities are still all the rage, with demand for gold reaching over 

 in 2021. Globally, the crypto market capitalization 

last year as well. Many investors now find themselves face-to-face with the question: Which option to choose — crypto or gold?

PAX Gold has found a way to provide a hybrid investment option of cryptocurrency linked directly to physical gold assets, hence appealing even to investors who are used to traditional options. This article will discuss PAX Gold (PAXG) and examine its viability as an investment.

 (PAXG) is an asset-backed token issued by 

. One PAXG token represents one fine troy ounce of a 

 stored in Brink's professional vault facilities.

Users receive PAXG tokens representing legal ownership rights to a part of the gold held by the Paxos Trust Company. Since the PAXG token represents real, physical gold, its value is tied directly to the real-time market value of gold.

The PAXG token gives its owners the benefit of real physical ownership of gold bars, with the mobility and speed of a digital asset. PAXG token holders can have fractional ownership of physical bars and convert their tokens to unallocated gold, allocated gold or fiat currency (and vice versa) on the Paxos platform. This conversion process is quick and efficient, reducing vulnerability to settlement risk.

A PAXG token holder can look up the serial number, value and physical characteristics of their vaulted gold at any time by simply entering their Ethereum wallet address into the 

protocol, and all transactions function according to the 

Every PAXG token represents one fine troy ounce of a gold bar stored in Brink's vaults. For smaller amounts of gold, physical retailers can help investors redeem their tokens. PAXG uses the same consensus protocol and blockchain features as Ethereum, including access to smart contracts.

Paxos checks and surveys each PAXG transaction via third–party analytical tools to investigate potential cases of fraud and money laundering. It also conducts regular smart contract audits, by which developers analyze code to identify bugs and vulnerabilities.

Paxos charges a small fee (around 0.02% of the amount of PAXG sent on the blockchain) for the creation and destruction of PAXG tokens. Users also pay on-chain fees for moving their tokens on Ethereum.

Ethereum is a blockchain platform technology that hosts applications, digital money and global payments. The Ethereum community has created a booming digital 

, with bold ways for creators to earn online and more.

An Ethereum smart contract follows a standard protocol for defining custom tokens on the 

. The contract must specifically declare basic token characteristics (name, symbol, decimal precision), track the total number of tokens, monitor the token balance for each Ethereum address, and allow address owners to transfer parts of their balances to other addresses.

Since PAX Gold follows the standard ERC20 protocol, many Ethereum-supported exchanges and wallet applications already have built-in support for viewing and transferring PAX Gold.

PAXG, built as an ERC20 token on Ethereum, can be moved or traded 24/7 from anywhere in the world. The low investment minimums enable anyone to own a part of an LBMA-accredited gold bar under 

Paxos is a custodian and trust company regulated by the New York state Department of Financial Services (

). The PAX Gold token is also fully backed by allocated gold held in the world's most secure vaults. Every month, a nationally ranking auditor ensures there is a matching supply of PAXG and underlying gold.

PAX Gold is the first and only gold token that can be redeemed for 

-accredited Good Delivery gold bullion bars. Smaller amounts can also be conveniently redeemed through a network of physical gold retailers. Paxos customers can always redeem PAXG for USD at current gold market prices. Institutional customers can also redeem their PAXG tokens for unallocated 

PAXG holders can easily redeem or convert PAXG to fiat, physical or unallocated gold through the Paxos platform. PAXG can be used wherever ERC20 tokens are supported. PAX Gold tokens can also be traded for other digital assets on popular cryptocurrency exchanges.

Paxos offers an extremely competitive fee structure (0.03–1% based on volume tiers) for the creation and redemption of PAXG tokens in the Paxos wallet. It also offers low on-chain Ethereum transaction fees (0.02%) and zero storage fees. As with other ERC20 tokens, nominal Ethereum gas fees are applicable for on-chain transactions.

As of this writing, the price of one PAXG is over 

, with a 24-hour trading volume of nearly 

, PAXG has a circulating supply of more than 300,000 PAXG and a market cap of approximately $611 million.

The Paxos Trust Company has a track record for successfully developing and maintaining 

 like Paxos Standard (PAX) and the U.S. dollar-backed Huobi stablecoin (

The Paxos Trust Company ensures that the circulating supply of PAXG is backed at a 1:1 ratio by physical gold bars held in secure Brink's vaults.

The low minimum order requirement of PAXG allows individuals to gain fractional ownership of LBMA-accredited London Good Delivery gold bars at retail investor-friendly prices.

PAXG holders can earn interest through crypto asset interest accounts offered by 

. Users can also access short– and medium–term loans secured against their PAXG tokens through Nexo's platform.

For most investors, physical gold bars are not quite affordable. As an alternative, PAXG offers access to fractional gold ownership at a minimum purchase of 0.01 PAXG (currently equivalent to $19).

, is fully regulated and licensed by NYDFS. The company maintains regular, publicly-available audits, so customer balances are cumulatively pegged 1:1 by the circulating supply of PAXG tokens.

PAXG tokens can only be purchased directly by verified users. Those who value their privacy might find PAXG's 

In compliance with regulatory responsibilities, the issuer should adhere to legal requirements when asked to freeze, unfreeze or wipe a user's account. However, since PAX Gold is fully decentralized, there is no real way to enforce legal requirements on its transactions.

PAX Gold is a valuable asset for investors and active traders (institutional or retail), as well as market participants both outside and inside the crypto asset ecosystem.

 enthusiasts are also attracted to PAX Gold investments for many of their shared properties. Both Bitcoin and PAX Gold are decentralized "outside" assets that are no one else's liability, and are not tied to any particular government. Both assets are also scarce and transcend universally recognized borders. Therefore, many investors who hold and trade Bitcoin are also likely to be interested in holding and trading gold, which is where PAX Gold comes in.

PAX Gold's similarities to Bitcoin also ensure an easy introduction to new asset classes within a familiar ecosystem. PAX Gold is listed globally on crypto asset exchanges, and trades directly against Bitcoin and other crypto assets.

PAX Gold is an attractive option for many people worldwide who are interested in physical gold investment, as it’s allocated to high-quality gold, doesn’t require any storage fees and is highly accessible. In addition, people who already hold physical gold may be interested in moving their holdings to PAX Gold.

Even though the price of gold may be volatile in the short term, it has historically maintained its value over the long term. For this reason, many investors use gold as a hedge against inflation.

The price of gold often increases in response to events that cause a decline in the value of traditional paper investments, such as bonds and stocks. Therefore, it’s important to consider a gold investment as a major part of a diversified investment portfolio. This strategy is effective in offsetting losses from more volatile assets during a downturn in the market.

PAXG offers investors the same value proposition of physical gold, in addition to the liquidity, security and divisibility of digital assets powered by blockchain technology.

Following are some ways in which users can purchase PAXG.

PAXG can be bought directly using USD or unallocated gold from the Paxos user interface.

On the main dashboard of the Paxos account page, click on the 

 tab on the top navigation bar. From there, you can convert USD into PAX Gold. PAXG tokens bought through Paxos' gold retailer are subject to 

If you have a Loco London unallocated gold account, you can transfer your holdings to Paxos. Paxos will convert the unallocated gold into physical allocated gold bars that are tokenized as PAXG. The resultant PAXG will then be credited to your Paxos account the next day. Any unallocated gold balance left in your account after the daily cut-off time (4:30 PM in the U.K.) will be converted to PAXG.

 and then placing a limit order to obtain PAX Gold tokens. Enter the targeted order price in USDT and select the amount of PAXG you want to acquire. If the PAXG price reaches the amount you’ve specified, your order will execute, and the tokens will be reflected in your account.

You can also purchase PAXG tokens from popular cryptocurrency exchanges using USD, EUR, BTC or ETH.

PAX Gold’s unique value proposition ensures that both traditional and modern investors can keep up with today’s trends without compromising on their personal goals and preferences. With real gold assets represented by crypto tokens, you can have physical and crypto assets in a single investment — the best of both worlds.

What Is PAX Gold (PAXG)?

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards