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

web3

Ethernity Chain (ERN) is a community-oriented platform built on the Ethereum blockchain that provides an on-chain marketplace for authenticated NFTs (aNFTs).

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Human beings have an innate love for art, and the explosive growth in the demand for 

 (NFT) is proof of that. However, as the NFT art industry becomes increasingly oversaturated, it’s faced with the biting problems of theft, plagiarism and fraud by hackers looking to make a quick buck.

As you ponder that, allow us to introduce you to Ethernity Chain, where you can access authentic NFTs while making a difference in society.

Let’s explore more about this socially-conscious aNFT platform.

Ethernity Chain (ERN) is a community-oriented platform built on the Ethereum blockchain that provides an on-chain marketplace for limited edition, authenticated NFTs (aNFTs) from top names in the creative and entertainment industry.

Through strategic partnerships with some of the leading names in sports, entertainment, art, content and digital collectibles, Ethernity is focused on innovating the NFT space by merging it with 

 (DeFi) to provide transparency and authenticity.

 by American announcer Bruce Buffer, who also debuted his aNFT collection on the platform. Since then, notable figures like Shaquille O’Neal and Lionel Messi also listed their NFT collections on Ethernity Chain. 

Powered by its native token, ERN, Ethernity is focused on driving mainstream NFT adoption as the industry shifts into 

First, you’ll need to connect your MetaMask wallet to interact with Ethernity Chain.

Since Ethernity is Ethereum-based, it’s poised to gain from the recent 

 (PoS). As a result, the platform will be quicker, more scalable and energy efficient.

 that it would only support NFTs compatible with the 

Additionally, Ethernity has a DeFi platform on which users can leverage ERN for LP staking, STONES farming, fixed staking and Satoshi Staking (we’ll cover more on these later in the article).

 and Ethernity are Ethereum-based NFT marketplaces, the two have rather different approaches to NFT adoption.

As one of the most popular names in the NFT space, OpenSea enjoys a high trading volume and is populated with millions of NFTs. However, the platform has 

 from artists and investors due to increased scams and theft by hackers.

Authentication is a significant challenge on OpenSea, since anyone can create and auction their NFTs on the platform. Furthermore, all the proceeds from an NFT sale are shared between the platform and sellers.

In comparison, Ethernity is relentless around authenticity, endorsing rare and limited aNFTs such as digital artworks and trading cards created by top artists. Users can easily verify the authenticity of the NFTs with the Ethernity Chain official blue stamp located above the collection.

Nick Rose Ntertsas is the CEO and co-founder of Ethernity Chain and Ethernity Labs. He’s a well-known crypto enthusiast and environmental activist. He believes the Ethernity platform can help merge NFT adoption with social good by bringing together like-minded artists toward this cause.

The project is backed by a team of highly experienced tech professionals, such as Mac Pholea (Chief Engineer), Evangelos Diamantis (CFO) and Adrian Baschuk (CCO), among other top talents.

Its strategic partners and investors include Kenetic, BlackEdge Capital and Morningstar Ventures.

ERN is the token powering the Ethernity ecosystem. It’s utility-enabled to provide ultimate value to the holders. Its use cases are as follows.

 where art lovers and NFT enthusiasts can buy and sell authenticated NFTs using ERN tokens. Three-quarters of the ERN tokens collected from NFT transactions, such as auctions and direct sales, are locked in a smart contract for two years.

ERN is also used to purchase Ethernity Packs, which contain aNFTs curated by the Ethernity creative team, including rare and exclusive aNFTs.

ERN is also used to reward long-term holders and users of Ethernity Chain. The LP staking program requires Ethernity’s community to provide liquidity for the ERN/ETH trading pair on 

Those who provide liquidity to the liquidity pool are issued ERN-ETH-LP-UNI-V2

that represent their share in the pool. At the end of 30 days, the liquidity providers are rewarded using ERN tokens at an APY ranging from 100%–300%.

Another DeFi product on Ethernity is fixed staking, which lets ERN holders lock their tokens for a period to earn more ERN tokens.

There are various types of rewards you can earn through fixed staking on Ethernity:

ERN can also be earned through the staking of a special NFT, Ethernity Genesis: Satoshi, which was created as a tribute to the original Bitcoin creator, Satoshi Nakamoto. Satoshi NFT holders can earn 10 ERN tokens every 24-hour period for each staked Satoshi NFT. They can be accumulated for up to 360 days. 

ERN tokens are also used to facilitate STONES farming on Ethernity. Although it does not possess any monetary value and is not transferable, 

 can be used to redeem curated NFTs on Ethernity Chain, and to participate in exclusive real-life STONES Events. STONES can only be earned by farming ERN tokens through the 

 on Ethernity generates 1,000 STONES per ERN token farmed every 24 hours. Unstaking in advance will cause you to lose 70% of your interest.

 to allow the bridging of ERN tokens between Ethereum and Polygon. This partnership will bring full cross-platform compatibility to Ethernity, which will create more utility for ERN holders.

 also provides a cheaper, faster and more energy-efficient way of minting NFTs as compared to Ethereum.

The strategic move by Ethernity to merge the utility of DeFi with authenticated NFTs is timely, because cases of NFT scams and fraud are growing rapidly. Not only will the platform help drive the adoption of NFTs, but it will provide art lovers with an opportunity to contribute to social good and charity.

Upon launching in March 2021, Ethernity Chain’s price skyrocketed, from $6.30 on March 8 to its highest price of $73.86 on March 27. However, the price corrected in the following weeks to find support at $4.98 in mid-May 2021.

After a slight pump to $22.24 on August 21, 2021, ERN’s price began falling and stagnated between $2 and $3 toward the latter half of 2022. As of this time of writing (November 3, 2022), Ethernity is priced at $2.46, with a market cap of $39.37 million.

 on Ethernity Chain, predicting that it could reach $25.53 by 2025. 

an increase in its price, up to $10.24 in 2025, and leaping to $70.85 by 2030. Meanwhile, 

 a more gradual increase in ERN’s price that could hit a max of $7.48 in 2025, and $15.24 in 2030.

Start trading on NFTs at Bybit's own NFT marketplace now.

Authenticity is an important factor when trading NFTs. Ethernity Chain is keen on providing a community-oriented platform to access authenticated NFTs. Its sincere strategy of promoting social good and charity with its project is also an angle that could further drive NFT adoption.

By leveraging DeFi, Ethernity hopes to provide ERN holders with value and utility. As demand for NFTs continues to grow, the Ethernity ecosystem is bound to thrive as it provides a legit place to discover authenticated, exclusive NFTs.

Ethernity Chain: Giving You Authenticated NFTs

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards