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

DeFi

Gains Network is a DeFi ecosystem of multiple products on the Polygon and Arbitrum chains. Find out more about its features in this article.

While there are many cryptocurrency trading platforms in use today, they often have limited functionality, high 

 and various inefficiencies. These factors can limit a trader’s activities considerably and have a negative impact on how profitable the trades are. Gains Network’s gTrade is one of the many decentralized trading platforms that users can choose from, but it stands far apart from the others in terms of its architecture, functionality and user experience. Read on as we explore exactly what makes Gains Network a superior option for traders to use.

This decentralized leveraged trading system uses its liquidity pools for leveraging, and users do not actually need to borrow assets or possess assets in order to use them. In addition, users of Gains Network do not need to endure the hassle of 

 identification to get started. Instead, their activities are executed directly from their wallets. Gains Network also offers staking rewards, NFTs, one-click trading and future community governance for a superior user experience.

Currently, the Gains Network team is robust, and the entire team uses only first names or handles to identify themselves. The founder, known as Seb, worked exclusively on the project for its entire first year. As the project grew and its needs became more refined, Seb expanded its team. Gains Network’s full-stack developers are Nathan, Uri and Crumb. Front-end developers are Dreamersnat and Konrad, while Drew is responsible for backend development. These and other individuals are actively working on the current and upcoming evolution of Gains Network as a benefit to its current and future users.

The Gains Network team has maintained its focus on a few specific goals from day one. One of these goals is for the gTrade platform to be the most-used decentralized leveraged trading network in use today. It has also focused on producing excellent DeFi products on Gains Network with a staking mechanism and staking rewards. 

Using DAO governance, Gains Network supports community-generated proposals for future improvements to the platform. It also wants to take the 

 space to a higher level, such as through the establishment of its own 

 and casino. Gains Network is already in a league of its own thanks to its gTrade architecture, and extensive development continues today to further innovate improvements and enhance its users’ experiences.

Users do not need to go through an intensive authentication process in order to benefit from Gains Network. All trades are processed through a single vault, so the process is more efficient. Because synthetic leverage is used on Gains Network’s gTrade, users do not actually borrow funds to take advantage of leveraging their trades. When an order is placed, positive trades are paid through the vault, and negative trades result in funds being deposited in the vault. To support accurate, real-time pricing, gTrade uses a custom Chainlink decentralized 

 network for median prices on each order. 

Gains Network is designed to enhance staking, buying, selling and other activities for its users. Its functionality is rooted in several standout features and its unique gTrade architecture. What are the key features of Gains Network?

At the core of Gains Network is the gTrade platform. This is a liquidity-efficient platform that uses synthetic architecture to produce a superior trading experience. Roughly 40 trading pairs are supported through gTrade. Users maintain full custody of their assets and trading is available for commodities, cryptocurrencies, stocks and forex. This platform also has more competitive fees than many of its counterparts, and it offers up to 150x leverage for cryptocurrencies and up to 1,000x for forex.

 (1CT) once you create a 1CT wallet on the gTrade trading platform. After creating the wallet, you would have to approve it as a delegate through gTrade smart contracts so that it can execute trades on your behalf. Once this is enabled, you will no longer need to use your wallet to confirm transactions during trades. You can simply proceed with making your usual trading order which is then immediately processed as requested, reducing the time required to trade. 

GNS staking offers users a great way to earn a passive income. In exchange for staking GNS tokens, users are rewarded through DAI generated from trading fees. Specifically, approximately 32.5% of the trading fees collected on the platform contribute to GNS staking rewards. As such, users are greatly incentivized to share the platform with their friends to increase the total trading volume, which in turn increases the amount of trading fees collected and ultimately results in them receiving more rewards. You can also earn a higher percentage of staking rewards by staking up to three Gains NFTs in the GNS pool. The specific boost in percentage is based on the tier of NFT being staked. For example, a bronze NFT qualifies for a boost of 2%, and a Diamond NFT qualifies for a 13% boost.

 that serves as a conduit for trading activities. Traders who win receive their winnings from the gDAI Vault, and traders who lose send their losses to the vault. A portion of the trading fees for these transactions are stored in the vault. Users can stake their DAI tokens in this vault to be liquidity providers. They are then given gDAI tokens in exchange as a representation of the DAI tokens that they staked. By staking DAI tokens in the gDAI vault, users are rewarded with a share of the trading fees, which incentivizes them to continue staking their tokens in the vault. When users choose to withdraw their DAI tokens, the gDAI tokens are burned. 

When Gains Network was previously known as GFARM2, 1,500 NFTs were generated. These NFTs were split into five different tiers — Bronze (most common), Silver, Gold, Platinum and Diamond (rarest). While all holders of these NFTs have access to exclusive benefits, the tier of your NFT will determine the extent of the exclusivity. For example, all GNS NFT holders can enjoy reduced spread when trading, but those holding a Diamond NFT will enjoy a 35% reduction while those holding a Bronze NFT will only enjoy a 15% reduction. One of the most interesting benefits of holding GNS NFTs is that users can enjoy a bigger share of rewards when staking GNS tokens. 

With the unique gTrade architecture and features of Gains Network, users are able to take advantage of several key benefits. Collectively, these advantages could result in greater overall profitability for users compared to what they may achieve on other platforms. What are some of these benefits?

Traders can take advantage of up to 50x leveraging power on stocks, 150x leveraging power for crypto trades and 1,000x leveraging power on forex trades. This incredible leveraging power is supported by its decentralized vault, the native token’s multiple functions, gTrade architecture and its unique NFTs.

While leveraging enables traders to make larger trades and to potentially see larger gains, fees can impact the overall financial gain associated with using a specific platform. By operating on the Polygon chain, Gains Network is not subject to the exceptionally high gas fees that some other chains are known for. Because of this, users are able to see a greater net return.

While Gains Network is a true standout in the world of trading exchanges, it is not a perfect platform. Its developers are currently creating fixes for the known downsides of the platform to further elevate the user experience moving forward. 

Currently, Gains Network limits its users to having three open trades for each trading pair at a time. Because new orders cannot be placed and executed based on this limitation, some users may miss out on lucrative trading opportunities. However, this limit is set to be removed at some point in the future.

There are also some current structures in place that may further limit a user’s profitability. For example, Gains Network has a maximum limit on the open interest for each specific pair. In addition, there is a 900% winning cap on trade collateral.

Gains Network has evolved significantly since its launch a few years ago. This trading platform initially operated on Ethereum before migrating to the Polygon chain. Now, it is available via Polygon and Arbitrum. Looking forward, Gains Network 

 to introduce community governance through a DAO, and voting rights will be determined by the number of GNS tokens staked. Once the community DAO has been established, users will be able to contribute positively to the direction of future developments. Farther down the road, a casino may be developed as well. Gains Network also plans to remove its limit of three open trades for each trading pair so that traders can take full advantage of opportunities to make more profits.

The native token of Gains Network is GNS, which is a 

 utility token. This token supports the operation of the gTrade platform through its liquidity efficiency. The platform’s original token was GFARM2, which was established on Ethereum. Later, the platform transferred to the Polygon chain and the GNS token was introduced. 

The initial distribution of the token was allocated with 5% to the development fund and 5% to the governance fund. The token is used to mint rewards and to maintain the vault’s stability. When the vault is appropriately over-collateralized, GNS is burned. This prevents inflation related to NFT bot rewards and staking rewards. To date, roughly 20% of GNS tokens have been burned. The initial supply was 38.5 million tokens. There is a supply cap of 100 million tokens. However, a mechanism is used to ensure that the supply will never reach 100 million.

The current price of the Gains Network native token is $9.25 (as of Feb 20, 2023). The all-time high price was $12.48, which recently occurred on Feb 17, 2023. 

 believes that the price of GNS by the end of 2023 may fall to $8.96. By 2026, however, the price may rebound to $11.42. It may then reach $19.90 in 2028 and $34.68 in 2030. It may continue to increase at a rapid pace after that point. The price projection for 2032 is $60.43, and $105.29 in 2034. 

 is more bullish and predicts that GNS price will reach up to $17.31 at the end of 2023. It believes that GNS price will continue to increase to $54.82 in 2026 before doubling its prices every two years, growing to $121.79 in 2028, then $263.91 in 2030 and $566.90 in 2032.

GNS is available on multiple popular exchanges, including Bybit. Bybit is among the top exchanges today, and it has a hassle-free trading experience for its users. To get started with trading the 

 on Bybit, simply create a Bybit account and fund it with USDT.

With availability through Bybit and other exchanges, buying GNS is a hassle-free experience. With GNS, you can access many of the features and benefits that Gains Network offers. For example, you can stake your tokens for GNS rewards and obtain GNS NFTs on the secondary market for a boosted return on staked tokens. More than that, Gains Network’s gTrade gives you access to an incredible amount of leverage. This leverage can help you to optimize your profits from trading activities. With these factors in mind, using the Gains Network could be advantageous for many traders and investors.

More than that, the price of GNS is expected to increase dramatically over the next decade. A long-term hold of GNS tokens is another way for users to potentially benefit from exciting financial gains. Of course, as with any other cryptocurrency, we urge you to do your own research before choosing to invest. 

As a decentralized ecosystem complete with a decentralized leveraged trading platform, Gains Network is well-designed to facilitate trades of crypto assets and other common types of assets. With leverage of up to 1,000x available and low trading fees, users can potentially realize exciting gains through the use of this platform. This is the ideal time to experience the difference that Gains Network can make to your portfolio of crypto assets and other assets.

Gains Network (GNS): Boosting Gains with DeFi Leveraged Trading

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards