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

Crypto

The Flippening refers to the hypothetical situation when Ethereum overtakes Bitcoin to become the top cryptocurrency in terms of overall market capitalization.

When it comes to investing in crypto with a longer time horizon in mind, two 

 projects often lead the conversation: Bitcoin and Ethereum. As the top two coins with the highest market cap in the crypto space, it's fair to say they're the go-to names for anyone keen on 

However, since Ethereum recently executed its 

 without a hitch, there has been rampant speculation with regard to the future of the world’s second-largest cryptocurrency in terms of market capitalization. With its post-Merge roadmap already underway, it seems Ethereum is poised to become the most functional 

 platform in the crypto space. Will this momentum carry Ethereum forward in a way that allows it to make the Flippening a reality? Read on as we discuss what the Flippening is and how it’ll shake up the crypto market. 

 has compiled a whole list of factors that take into account other metrics beyond just market capitalization. On top of comparing market capitalization, the website also takes into account factors like transaction volume and active addresses. To the surprise of many, Ethereum has proven its utility as it surpasses Bitcoin in terms of transaction count and fees paid.

While there’s no official indicator to track when this historic event will take place, 

 helps in gauging Ethereum’s popularity relative to the rest of the crypto space. It’s the indicator that’s used to gauge Ethereum’s share of the total market capitalization of cryptocurrencies. According to Ethereum dominance levels, ETH came closest in June 2017 when ETH dominance rose to 25.32%. For older investors, this was during the golden age of initial coin offerings (

 were being created off the Ethereum protocol.

Unfortunately for Ethereum maximalists (maxis), Bitcoin’s market capitalization showed no signs of slowing down since then. With the 

 update that helped improve overall transaction privacy and efficiency alongside a 

 that drastically made it harder to mine BTC, Bitcoin soared in popularity. However, due to the tougher macroeconomic factors and catastrophes like the 

 collapse, ETH dominance now finds itself at about 

 as of Feb 1, 2023. This has led to many long-term investors once again speculating on whether Ethereum has what it takes to take down Bitcoin.

Remaining optimistic for the Flippening? According to the Ethereum maxis, here are the reasons why Ethereum will flip Bitcoin in market capitalization in the long run:

If you're in touch with the crypto market, you'll often hear of how Bitcoin has the reputation of being digital gold. As altcoins get rocked by volatility, crypto investors tend to seek Bitcoin as a safe haven from the rampant price fluctuations in the crypto markets. This gives Bitcoin a gold-like similarity as traditional investors used to add gold to their portfolio and use it as a 

 against traditional assets and inflation.

In the case of Ethereum's positioning relative to Bitcoin, many are now calling it digital oil. Much like how the global supply chain is powered by oil, decentralized finance (

) smart contract transactions are mostly powered by Ether (ETH). From NFT marketplace transactions to staking contract approvals, users will have to pay 

 in ETH to process said transactions. Thanks to the 

, ETH is burned and removed from existing circulation each time a user engages in any of said smart contract transactions.

All in all, it's this utility that gives Ethereum a massive bull case when considering if the Flippening will happen. As the popularity of Ethereum picks up traction in the 

, it’s believed that the massive influx of transactions will help in boosting Ethereum’s market capitalization as more ETH gets burnt over time.

, it’s a momentous event when Bitcoin mining rewards are reduced so that scarcity is maintained and inflation is counteracted. Like Bitcoin, Ethereum has a similar halving mechanism. As Ethereum transitions to a 

 (PoS) consensus mechanism post-Merge, issuance of ETH is expected to dip by more than 80% over time. This reduction in supply is equivalent to more than three Bitcoin halvings, leading to ETH maxis terming this phenomenon the triple halving. Curious about how this reduction in issuance will be accomplished? Here are the factors that will contribute to the triple halving playing out. 

Along with the burning mechanism, the London hard fork also altered the gas fee system. Previously, users were able to select the fees they would like to pay based on the speed of the transaction. By incorporating the London hard fork’s EIP-1559 upgrade, users have to pay a base fee for each block. As a result, ETH that would otherwise profit miners will now be burnt. This contributes to less ETH in circulation and greater deflationary pressure on Ethereum.

Additionally, post-Merge Ethereum now has new requirements when it comes to running a validator node on the network. Compared to 

 (PoW) mining which gives rewards based on who has higher computational power, the PoS consensus mechanism utilizes a system that dishes out rewards based on the amount of assets committed to the network. 

 is now merged onto the Ethereum mainnet and Ethereum has fully transitioned to PoS, validators will now be required to stake 32 ETH in order for their node to reap the yields of staking. As more validators reserve their ETH for staking, a significant amount of ETH will be considered as removed from circulation.

It’s common knowledge that institutions make use of the Environmental, Social and Governance (ESG) framework to make investment decisions. As institutional money often drives crypto price movements, it can be extremely beneficial for any project to tailor itself to fit the ESG guidelines so institutions will deem the investment as low-risk. Unfortunately for Bitcoin, it fails to check many of the ESG boxes. From PoW mining being perceived as harmful to the environment to the decentralized governance nature of Bitcoin, the risks are far too high for investors to justify a large BTC exposure.

In contrast, Ethereum suits the ESG guidelines in numerous ways, namely that there’s a core Ethereum Foundation that can be consulted, a coordinated governance process that allows for frequent updates and a consensus mechanism like PoS that reduces Ethereum’s emission levels. This ultimately makes Ethereum more institutional-friendly and paves the way for billions of assets under management to be invested in the ESG-friendly Ethereum blockchain.

To truly evaluate a crypto project’s long-term potential, it’s also important to take into account its bear cases. Here’s why some speculators believe the Flippening will not happen:

The Double-Edged Nature of Vitalik Buterin’s Popularity

Some Ethereum detractors might feel that having a central figure reduces a key aspect of what makes Ethereum decentralized. After all, if one entity controls all the happenings, who is there to police the entity's authority? In Ethereum's case, Vitalik Buterin is the central figure who gets credited for the cryptocurrency’s success. This credit has largely come from Buterin’s down-to-earth nature and aspiring core beliefs for Ethereum that he remains committed to despite Ethereum’s meteoric success. 

Unfortunately, while Buterin’s popularity is good for Ethereum, his fame can also harm the project. Much like how Elon Musk’s actions impact Tesla for better or worse, the same can be said for Ethereum as Buterin’s frequent addresses and interviews prop up Ethereum’s credibility. If something were to happen to Buterin, Ethereum’s price would certainly be impacted as there would be fears of a lack of leadership. In comparison, Bitcoin has no figure of reference as 

 remains a mystery, even after years of trying to unearth who the mysterious Bitcoin creator is. On top of being beneficial for decentralization, Bitcoin’s faceless nature prevents it from being rocked by negative founder news. 

In order to increase the overall exposure to crypto, 

 investors could look towards investing in 

 to buy into crypto and avoid the strict regulations that restrict them from directly investing in Bitcoin. Although there aren’t any crypto spot ETFs that have been legally approved yet, Bitcoin does have the upper hand in this regard. This is because there already are a few 

 that generated some hype in the market when they first launched. 

If a Bitcoin spot ETF is approved, it’s possible that the massive amount of inflows from institutions could cause Bitcoin to rally in price and greatly deviate from Ethereum’s market capitalization. With funds like Samsung Asset Management looking to 

, we certainly aren’t too far from a future where institutions can freely increase their digital currency exposure via crypto spot ETFs.

What Will Happen to BTC After the Flippening?

While we won’t know for sure how the Flippening will impact the crypto industry, we do foresee how Bitcoin will be impacted if Ethereum overtakes it in terms of market capitalization.

, there won’t be any doomsday scenario where Bitcoin goes to zero. Rather, the most likely scenario is that Bitcoin remains a key asset in the crypto landscape despite losing its top spot. This is because of Bitcoin’s unmatched security and decentralization. With more than thousands of nodes across the world, Bitcoin is the most secure payment network and Ethereum overtaking its market capitalization will not change this fact. Since they serve different purposes, it’s likely that Bitcoin continues to remain the go-to choice as a store of value and that it retains its digital gold title.

All in all, the Flippening looks to be more and more likely with each Ethereum network update that goes according to plan. Even though post-Merge Ethereum is only 55% complete, ETH has already eclipsed more than a third of BTC’s market capitalization. With the eventual completion of the Ethereum roadmap and return of the bull market, we’ll likely see Ethereum head for another run on the top spot as volatility shakes up the prices of all existing crypto assets.

Keen on getting ahead of the curve and adding more ETH to your crypto portfolio? You can get started by trading ETH with Bybit. From our 

, we offer all kinds of instruments to suit your trading and investing preferences. Simply 

The Flippening: Will ETH Ever Surpass BTC?

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