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

Valuable NFTs can be used as collateral for acquiring loans. In this guide, we’re going to explore how NFT loans work, and take a look at some existing platforms that have made strides. Valuable NFTs can be used as collateral for acquiring loans. In this guide, we’re going to explore how NFT loans work, and take a look at some existing platforms that have made strides.

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Two aspects of the cryptoverse are gaining popularity — NFTs and 

, are a class of crypto assets that can’t be replicated or replaced.

They’ve become a controversial topic, thanks to 

 selling for staggering amounts of money. 

 refers to blockchain platforms that offer crypto investors financial products and services without the oversight of banks or financial institutions. These platforms enable anyone with an internet connection to borrow, lend or trade crypto assets in minutes without requiring approval from a centralized authority. 

 applications are easy to understand in the context of cryptocurrencies like Bitcoin or Ether. But how do NFTs — which aren’t divisible, and therefore can’t be easily traded — fit in the picture? The answer is NFT loans. Valuable NFTs can be used as collateral for acquiring loans, just as with a house, car, boat or stocks. 

Merging DeFi with NFTs is opening up a whole new economy for this emerging class of crypto assets. In this guide, we’re going to explore how NFT loans work, and take a look at some existing platforms that have made strides in the NFT/DeFi space.

NFT loans are offered by DeFi platforms. They allow NFT owners to mortgage their NFT pieces or collections in exchange for cryptocurrencies or fiat currency. Many NFTs on the market are highly illiquid, and several DeFi projects have identified the growing need to improve NFT liquidity using solutions such as lending.

 can represent ownership of a wide variety of real world items and digital assets, ranging from 

. The biggest selling point for NFTs is their non-fungibility, which basically means they aren’t divisible and can’t be replicated. 

By contrast, cryptocurrencies are divisible — which means that investors don’t have to buy one 

 in its entirety, but can instead buy fractions at a time. In comparison, all NFTs have a unique digital identifier that ensures they can’t be copied or subdivided. An original NFT can easily be verified on the blockchain.

NFT art by Beeple broke records after it sold for $69,346,250 in March 2021. Image source:

In many cases, NFTs simply point to the location of a digital file, whether it be an audio clip, work of art, GIF or video. The most prominent example of a sale which made headlines last year was NFT artwork 

by digital artist Beeple. The work went for $69 million at 

’s auction house, kicking off the NFT craze back in March 2021. 

Other examples include Twitter co-founder Jack Dorsey’s first-ever tweet, or even 

, an official marketplace for NBA-licensed digital trading cards that features some of the NBA’s biggest stars. Fans can enjoy unique ownership of the licensed trading sports cards or flip them for a profit. 

The first edition of an NFT clip of Kevin Durant dunking a basketball sold for almost $20,000. Image source:

NFTs’ lack of fungibility is great for establishing the uniqueness of assets. It’s created a distinct class of assets for digital items which shares parallels with traditional fine art collecting and other rare physical collectibles, like baseball or Pokémon cards. 

However, non-fungibility isn’t without its flaws. The most prominent one is that it limits what investors can do with their NFTs, which makes NFTs highly illiquid. Once an investor obtains an NFT, the standard option to turn a profit is to sell once its value increases. 

That’s where NFT loans come in, a mechanism made possible thanks to DeFi. NFT-backed loans and fractionalized NFT ownership through 

 are becoming a way to solve the NFT illiquidity problem. These innovations create a market where NFT owners can mortgage their NFT(s) in exchange for cryptocurrencies or fiat.

, it’s generally challenging to use it productively. Unlike fungible cryptocurrencies, NFTs can’t be 

 or otherwise put to work to generate yield. However, NFT-backed loans enable holders to acquire funds using their digital assets as collateral. The loan can then be used to buy more NFTs, purchase tokens that can be converted into fiat, or acquire other tokens that can be deployed into DeFi protocols for yields to generate income.

Sales of NFT art surpassed $2.1 billion in 2021. Image source:

 has made great strides in crypto markets with a host of applications that include apps for lending, renting, staking and margin trading, without involving a bank or centralized authority. DeFi mechanisms such as 

, and others are giving collectors new ways to leverage their NFTs beyond passive buy-and-hold investment strategies.

, which serve as the foundation for transparent, open and self-executing loan solutions which don’t require supervision. They execute predetermined tasks, with users able to access them through simple interfaces, just as with any regular application.

However, the smart contracts used by DeFi platforms aren’t flawless. For example, 

 are a common concern for these platforms. Attackers can exploit the market as they take out a loan, driving the value of the borrowed token underwater. They then buy back the token at a deflated price, repay the loan — and pocket the difference. 

Regardless of these hurdles, NFT loans are slowly gaining exposure to the mainstream crypto market. The NFT ecosystem is currently underdeveloped, likely due to its age and the size of the market, but expanding use cases in

borrowing, staking and fractionalized ownership are pumping growth into the industry. 

Platforms that support NFT loans allow holders to borrow funds and set terms without an intermediary. Borrowers can expect to get a loan amount of approximately 50% of the value of the NFT, with interest rates ranging from 20% to 80%, depending on the popularity of the NFT. 

The beauty of DeFi protocols is how simple, transparent and fast they are compared to traditional lending institutions. There is no centralized authority that needs to check your credit score, verify your real identity and spend days or weeks deliberating your application. 

DeFi platforms use smart contracts to give users complete control over their funds. Assets that function as collateral are sent to a secure smart contract, which acts as an impartial, automated third party programmed to facilitate the lending and borrowing process. 

Lenders decide what they think is the fair value of the collateral, usually by looking at the asset’s past performance, sales history or the 

 of similar NFTs. The floor price refers to the lowest offer price for an NFT from a particular series. Once both parties agree on the terms, the NFT is transferred from the borrower’s wallet into an escrow account, and a smart contract facilitates the loan. 

It sounds simple and clean in theory, but the market isn’t entirely risk-free. If the borrower can’t repay the loan and interest by the end of the loan period, then the lender is entitled to the underlying NFT. Lenders may also not accept new NFT projects as collateral because of price volatility, since they could end up losing if there isn’t any market demand for the defaulted NFT. 

One of the core features of NFTs is that they’re completely unique, indivisible and verifiable, guaranteeing absolute ownership. That means only one owner can fully possess one NFT. Fractionalized ownership of NFTs is a method which allows multiple individuals or parties to own “shares” of a single NFT. 

NFT owners can use fractionalization to mint tokenized fractional NFTs. Some NFTs are extremely high-priced, and fractionalization is a convenient way for several parties to each invest a smaller sum of money to gain fractional ownership of the asset. An NFT that’s an ERC-721 token can be fractionalized into multiple ERC20 tokens, with each one sold individually at a much more affordable price. 

Fractionalization has opened up new horizons for the NFT market and brings numerous benefits, including: 

Fractionalized NFTs have the potential to disrupt the NFT market for digital art, collectibles, in-game items, 

, music and real estate. In all of these areas, 

 can use fractionalization to quickly sell their assets to a wider market that includes small-to-medium investors.

The market for NFT loans is still in its infancy, but there are already a handful of DeFi platforms offering opportunities to mortgage NFTs for permissionless loans. There are also several upcoming projects, such as those using the lending protocol 

, looking to accept NFTs as collateral for loans. Currently, the best platforms for NFT loans are as follows. 

 is basically a digital pawnshop that offers loans using ERC-721 tokens as collateral. It allows users to mortgage NFTs in exchange for various cryptocurrencies, which can then be sold for cash. Lenders offer borrowers loan proposals based on the value of the NFT that’s been put up as collateral. If the borrower accepts the proposal, then the NFT is locked in a smart contract until the terms of the loan are fulfilled. 

The platform has reportedly done over $12 million in volume since its launch in June 2020. The average loan size is $26,000 for one month, but the platform has purportedly facilitated loans as high as $200,000. Default rates hover just below 20%, and vary depending on the NFT. 

Arcade is an NFT lending platform geared mainly toward retail investors with a high net worth and institutional lenders. It’s built on the 

, a noncustodial liquidity infrastructure designed specifically for loans backed by NFTs. 

NFT holders can request loans using one or more of their assets as collateral via the Arcade app. Users must first connect the app with their 

 wallet, select which assets (from the list of supported collections) to use as collateral, and then request a loan with specified terms. 

The platform uses a smart contract to create a wrapped NFT (or 

) which represents the borrower’s loan collateral and is used when requesting a loan. The wNFT is time-locked in an escrow smart contract that notes when the funding principal is both sent to the borrower and repaid to the lender. Arcade earns a percentage of every transaction completed on the platform. 

 is a DeFi lending platform where NFT holders can put down their collection as collateral in exchange for instant access to a trustless loan without having to talk to an intermediary. Users can borrow up to 80% of the value of the asset (as determined by the floor price) and receive an instant permissionless loan from the lending pools.

 is a centralized NFT loan platform that only accepts blue-chip NFT collections valued at over $500,000. These include valuable NFT collections such as CryptoPunks, Bored Ape Yacht Club, and others. Crypto whales who hold these blue-chip NFTs can acquire instant liquidity without having to part with their assets.

Nexo assigns a dedicated account manager to loan applicants. Once an application is approved, applicants can receive a loan without a hard credit inquiry or credit history review. The NFTs held as collateral won’t be liquidated, even if the value of the NFT fluctuates during the course of the loan.

Recently, the market for NFTs has grown exponentially, becoming an estimated $40 billion market in 2021. Decentralized NFT loans are opening up new opportunities for growth in this nascent industry and are slowly gaining mainstream appeal, thanks to platforms like Arcade, NFTfi and Nexo.

NFT loans are solving the illiquidity problem facing most digital collectibles. At the same time, they enable NFT holders to put their assets to work, instead of engaging in simple buy-and-hold strategies. 

Even institutional investors seem to be taking interest in this new market. In December 2021, Arcade announced that it had received $15 million in 

That being said, the adoption of NFTs isn’t completely rosy, with many issues that still need to be worked out. Other than the impact NFT minting has on the environment, one of the other major problems is high gas fees. 

 requires fees which users pay to miners to validate the transaction, thereby adding it to the blockchain. This sounds straightforward, but the issue with gas fees is that they fluctuate. When the network is congested, fees go up, which is unfair to the consumer.

The good news is that Ethereum is actively working to fix this problem by switching to a 

 in 2022. This change will not only solve Ethereum’s energy consumption and carbon footprint problem, but also expand the network and improve its transaction-processing capability. This should ease congestion and reduce gas fees. 

While no one knows for sure where the NFT market will trend next, it’s safe to say NFT loans will continue to offer good investment opportunities in 2022 and beyond. 

NFT loans are a gateway into the NFT/DeFi sphere. They could potentially create exciting revenue streams for previously illiquid assets like NFTs. The core goal of NFT loans is to increase the liquidity of NFTs, providing users access to capital to spend on other projects and services. 

To learn more about lending protocols and how blockchain technology is continuing to develop, check out our guide on 

If you’re keen to get in on the growing NFT scene, find out 

Explained: NFT Loans and How They Work

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