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

We present all the latest facts & figures about NFTs in 2022, including how many people trade NFTs and which countries have the most interest in them.

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If you’re on any form of social media, you may have already heard of 

. NFT stands for “non-fungible token,” a tradeable digital asset that cannot be replicated or replaced with something identical. NFTs are images or other assets that can be bought and sold on a crypto blockchain.

The crypto boom of 2021 drew NFTs into the limelight, although the concept of an NFT has existed on blockchains since the first NFT — 

 was minted in 2014. So how popular have NFTs become in 2022? How many people are buying, selling, and trading them, and how many people plan to? 

 to ask 2,002 adults across the U.S. whether they’ve ever bought or sold an NFT, whether they intend to do so, and if they know what NFTs are. Alongside this, we conducted an analysis of millions of Google searches conducted worldwide in order to determine which NFTs are most highly sought and which countries are most interested in them.

To find out more about the population’s engagement with NFTs, we used 

 to ask 2,002 adults across the U.S. about their experience using, trading or understanding NFTs. We then divided our survey respondents into demographic groups, such as age and gender, to better understand the demographic influences on NFTs. 

NFTs have waxed and waned in popularity over the years, even before their mainstream boost in 2021. While their main platform is currently the Ethereum blockchain, the first NFT¹ was actually minted on the Namecoin blockchain in 2014. In 2016, NFTs began to migrate from other platforms to Ethereum with collection games such as 

 an asset adoption, and breeding game. Then, NFTs caught the attention of mainstream media and crypto enthusiasts in 2021. So how many people have jumped on the bandwagon and started trading NFTs in 2022?

*Our survey found that 3.8% of people in the US have bought or sold NFTs in the past. 3.8% of 258.3 million (the adult population of the US) equals 9.8 million, which we’ve rounded up to 10 million in this statistic. 

Which Age Groups Are Most Likely to Trade NFTs?

With every trend that hits mainstream social media, there are target audiences. The similarity of NFTs to trading cards and collection games makes their target market anyone who may have enjoyed these games in the past. We wanted to know if this reflects the age of the population involved in buying and selling NFTs. To find out, we divided our survey respondents into age groups from 18–24 up to 65+. 

 One in 8 U.S. adults between the ages of 25 and 34

 are planning to buy and sell NFTs in the future, 

making them the most likely age group to do so

 despite only 1.1% having traded them in the past

Who’s More Likely to Trade NFTs — Men or Women?

Anyone can start an NFT collection. However, where there are target audiences, there are differences in demographics. Does gender affect how many people are trading NFTs? To find out, we separated our survey respondents into men and women.

Men in the U..S are more than twice as likely as women

They are also 3.8% more likely to plan to trade NFTs

Women are half as likely to be interested

 in trading NFTs as men are (8.3% vs. 15.5%).

When NFTs hit mainstream media, their popularity began to extend beyond crypto circles. It can be argued that NFTs have introduced plenty of people to blockchain networks and will continue to do so since they appeal to anyone who loves to collect. So, just how many people are familiar with NFTs in the U.S. in 2022?

have heard of NFTs and understand what they are.

but don’t know what they are or how they work 

Which Gender Is More Likely to Know What NFTs Are? 

Since NFTs are more commonly traded by men, does this reflect which gender has a better understanding of them? And are men more familiar with the term “NFT”? We found that:

	14. Surprisingly (given that more men than women trade them), more men than women know about NFTs 

 have heard of and understand NFTs (46.6%),

over half of all women in the U.S. are entirely unaware of NFTs

At What Age Are Adults in the US More Likely to Understand NFTs?

Similar to gender, does age reflect the likelihood that someone will know about and understand NFTs? We found that:

One in 5 young adults have heard of NFTs, but don’t understand what they are

 are the least likely to have heard of NFTs

the most likely to have heard of, but not understand,

nearly half of U.S. adults between the ages of 25 and 54 are familiar with NFTs

, making them the most likely age group to know about them (44.3%).

So when did NFTs become so popular? How many people are really interested in them, and how much has this interest changed over time? To answer these questions, we used 

 to analyze global search volumes for the key phrase’ “What is an NFT?” and several variants. We repeated this process every month between November 2020 and June 2022 to view the trend over time.

Searches for “What is an NFT?” grew by 

over one million between October 2021 and January 2022

 (1,094,989), at the same time as the crypto price boom² of late 2021.

, dropping down to 200,448 searches in June 2022.

The biggest peak in interest was in January 2022

	24. Interest in NFTs started to rise rapidly in January 2021, experiencing its first peak in February 2021 with people searching 

94,900 times, 87,000 more than in January.

Which Countries Have the Most Interest in NFTs?

In light of this, we wanted to find out which countries are more interested in learning about NFTs. To do this, we repeated our process with the same key phrases in KWFinder for each country around the world. We left out Iran, Sudan, and Russia, where no search data was available. We then divided the average monthly search volume by the country’s population³ and multiplied the figure by 100,000 to find out how many searches were carried out per 100,000 people.

 is more interested in NFTs than any other country in the world, with Singaporeans 

searching an average of 197.4 times per 100,000 people 

	26. People from the Cayman Islands are up next, searching for “What is an NFT?” 

182.6 times per 100,000 people per month.

Australia is the fifth most interesting country

, searching more times per 100,000 people

 than any other English-speaking country in the world

	28. New Zealand isn’t far behind, with New Zealanders searching for “What is an NFT?”

 an average of 154.7 times per 100,000 people per month

Types of NFTs: Which Are the Most Popular?

An NFT can be anything a seller wants them to be — an image, image sets, sound clips and even tweets⁴! An NFT is a statement of ownership recorded on a blockchain, meaning that the nature of the asset is less important than its uniqueness and consequent value. That’s why Twitter founder Jack Dorsey’s 2006 set-up tweet sold for upward of $2.9 million in 2021. It’s irreplaceable and completely unique — perfect for an NFT! 

Many creators have jumped on the bandwagon since the creation of the NFT in 2014. The inception of NFT collection games began with 

 in October of 2015, in which users of the Ethereum blockchain could buy and collect pieces of digital “land.” The concept has been adopted by many creators and fans since, with game after game being added to the wide digital world of blockchains. 

So which games and NFT game platforms are the most popular in 2022? And has the popularity of this asset adoption concept changed over time? To find out, we researched global search volumes for a variety of NFT adoption games and NFT platforms for each month from November 2020 to June 2022, and then added these figures and divided them by the number of months to find the monthly average. In the vast majority of cases, we’ve gone with the keywords that Google determines to be NFTs. However, it’s important to note that many of the searches for terms such as “Doodles” may be in reference to unrelated subjects.

accumulating an average of over 2 million searches per month

with people searching a monthly average of 

, with people around the world searching 

NFT games need platforms in order to be used. There are plenty of these platforms available for NFT artists to utilize — but which are the most popular?

Has Interest in NFT Games Changed Over Time?

We also collected searches over time for a wide variety of NFT games and several of their variants over time. We then added up the totals for each month to find out how the popularity of NFT games has changed over time. 

This was after a sharp increase between June and July

	34. Searches for NFT collections then dropped until rising again between October and November,

 reaching the second peak of 12.9 million in November 2021

In Which Countries Are Different NFT Games Most Popular?

Does interest in NFT games vary between countries? Which countries have the most interest in playing and learning about different NFT collections? To find out, we once more repeated our keyword research for each country. We then calculated each country’s average searches per 100,000 people per month to find out which countries are the most interested in each NFT type. 

80+ NFT Statistics 2022 — Global NFT Trading and Popularity Facts

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