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

Candlestick

Trading

As a continuation pattern, a bear pennant indicates an extension of a strong downtrend. Learn how to spot the pattern and trade with it.

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 pattern that can help you spot strong downtrends in crypto. Crypto traders enjoy bearish pennant patterns because they’re easy to spot and, once identified, can tip you off to long and deep corrections. As a result, the pattern can also help you spot false bottoms.

In this article, we’ll review what a bear pennant pattern is, what it looks like and how to confirm the pattern with indicators. Then, we’ll review in detail how a trader sets up their trade with the risk and take-profit levels noted. Finally, the bear pennant pattern isn’t always 100% accurate, so we’ll review some of its limitations.

A bear pennant is a chart trading continuation pattern in which, after a strong move lower, prices pause and consolidate briefly, then break down further, resuming the larger correction. 

The pattern gets its name from the consolidation, which often looks like a pennant as prices wedge together before breaking down further. The bear pennant pattern is the opposite of the bull pennant chart pattern.

A bear pennant is formed when a cryptocurrency falls significantly, yet buyers believe it’s not inexpensive enough yet. The buyers hold out and don’t buy. The traders who are short become nervous and exit the position by buying it back. As a result, the crypto’s price increases a little, but on weak volume. 

Over time, the volume during this consolidation period tends to be weak. The cryptocurrency seems to mindlessly bounce within a range, making no progress. After a short period of time, the buybacks cease and the trading volume tends to fall as the last traders are shaken out. When volume fades, the sellers show up again and continue to push the market lower, resuming its downtrend.

A bear pennant has a lot of similarities to a 

 in technical analysis. Both patterns are consolidating a downtrend, which then leads to a further break lower in price. However, there’s a slight difference in their shape. The bear flag has a rectangular look in the consolidation phase, while the bear pennant resembles a triangle.

Analysts debate whether the bear pennant or bear flag is the more powerful pattern. On the one hand, the triangular shape of the bear pennant suggests there are hardly any buyers in the market, which tends to lead to shorter consolidation periods. On the other hand, the rectangular shape of the bear flag is effective at “faking out” potential buyers, trapping them into selling as the downtrend picks up momentum.

The debate will continue, but make no mistake: both patterns point to strong bearish downtrends coming. 

There are three phases to a bear pennant. The crypto market will experience a large, strong and deep correction. Oftentimes, the correction will appear relentless, as if it won’t stop (point 1 in the below diagram).

Then, all of a sudden, the downtrend stops, and a small rally begins to develop. Unfortunately, the rally doesn’t have a lot of strength or volume to sustain it and quickly fades away. At this point, the rally has retraced less than 1/3 of the decline, and definitely remains in the lower half of the original decline (point 2).

The short-term rally soon fades to another correction. The decline is as weak as the rally and the cryptocurrency begins to trade in a sideways range. There’s one distinctive feature of this sideways movement: the upper and lower boundaries of the range become compressed as time passes. When you draw trend lines along the outer edges of the consolidation, they converge to form the shape of a contracting triangle (point 3).

This triangle is critical to defining the pattern, which leads to a strong continuation lower. During this consolidation, trading volume contracts as well. The fight between the bulls and the bears looks more like a truce: both bulls and bears simply don’t show up anymore and stick with their positions as the consolidation drags on. At this point, the pattern looks like a triangle on the bottom of a stick, and the bearish trade is set up.

Eventually, the consolidation leads to a breakout lower as the sellers come back in full force, just as strong as they were in the initial correction (point 4). This is partly due to the buyers who thought they were buying cheaply: now, they have to turn around and sell in a strong down-trending market. The imbalance of sellers versus buyers is so large that price readjusts rapidly lower. Sometimes, the length of the secondary downtrend can be as large as the first correction, where the consolidation marks the midpoint of the entire decline. 

The best indicators to confirm a bear pennant are its shape, as well as where the pattern forms within the previous downtrend. There are some additional indicators that can be used to help confirm the bear pennant, but those indications may not be the most accurate. A correct bear pennant pattern should have a contracting triangle shape rather than a rectangle shape.

We previously discussed how the shape of the bear pennant must be a triangle at the bottom of a stick. The triangle portion of this pattern has to appear in the lower half of the stick, most likely within the lower third of it.

The duration of the triangle will be brief, as the market is getting ready to unload in a deeper correction.

Volume can provide a big clue about the validity of the bear pennant pattern. Usually, the initial decline occurs on a lot of trading volume. Then, as the cryptocurrency consolidates during the triangle pennant portion of the pattern, the volume will fall as both buyers and sellers stand aside.

As the triangle completes, volume tends to pick up again as the market corrects towards much lower levels. Remember, trends tend to follow volume. Therefore, a consolidation on weakening volume suggests the rally is likely temporary, and will be completely retraced.

When a cryptocurrency is in a fast trend, volatility tends to pick up. We can measure the volatility as a function of the high and low of each price period, which is called a range. When the range expands, it indicates volatility is on the rise and that the cryptocurrency is likely to trend in a specific direction. When the range falls, it indicates consolidation is likely taking place with little net movement.

To determine if the range is expanding or contracting, add the 

 (ATR) indicator to the bottom of your charts with a one-period setting. If the subsequent line on the chart is rising, that indicates increased volatility. If the line is falling, it suggests decreasing volatility.

Once you’ve identified a bear pennant, congratulations — because you’ve completed one of the toughest parts to trading the pattern. The subsequent trade can be rewarding, as the setup is quite simple and fairly straightforward.

Identifying a Bear Pennant Pattern on a Crypto Chart

After a long and steep rally, ETH topped in May 2021 and began to collapse. In about one week’s time, ETH corrected 25% to the low on May 16. This steep correction was the first phase of the bear pennant pattern. Let’s refer to the chart below.

ETH then briefly rallied off the low, but the rally didn’t last long or extend very far. The ETH rally retraced 38% of the May downtrend, placing it in the lower portion of the sell-off.

Ethereum begins to chop around sideways, making no progress either to the upside or downside. This sideways chop occurs on contracting volume. The candlestick ranges contract. The trend lines shaping the outer edges of the pattern contract, too.

This formation creates an ideal setup for a bear pennant trade.

After spotting the pattern, it’s time to plan the trade’s entry.

The easiest entry point is the lowest point of the pattern. Set an entry order to sell short if the market falls to new lows. Placing an entry at the pattern’s low point allows you to confirm that ETH is ready to trade to lower levels. If it does, you tend to see an explosion lower, leading to another large downtrend. 

The stop loss will be placed above the pattern near the recent highs. 

The best place for a stop loss is just above the 

 of the pattern. That way, if ETH does rally above the resistance line, then the bear pennant pattern is voided, suggesting another pattern has been unfolding.

On many occasions, the bear pennant is at about the halfway point of the decline. You can simply measure out the first decline, then project it at the end of the bear pennant near the last touch of the resistance trend line. The 

 is very handy for helping you measure out situations like these.

For ETH in the chart above, this places a take-profit target near $2,300.

In fact, a few days later ETH did fall hard, bottoming at $1,850.

Pennant Patterns vs. Triangle Patterns: Differences 

What’s the difference between pennant patterns (bullish and bearish) and triangle patterns? At first glance, they’re very similar and overlap in a lot of areas. The pennant pattern does include a triangle-like shape during the consolidation phase. However, the main difference is what happens before and after the triangle — and how long the triangle itself lasts.

Leading into the bearish pennant pattern, there’s a deep and strong correction. Then, the pattern consolidates into a triangular formation. However, with a regular triangle pattern, there doesn’t have to be a strong trending move preceding the triangle.

Secondly, after the triangle in a pennant pattern forms, it’s very clear in which direction to expect the pennant to break. It will break in the direction of the preceding trend, which — in the case of a bearish pennant — is to the downside. With a regular triangle, the breakout might happen to the upside or downside.

The third main difference between a pennant pattern and a triangle pattern is how long they last. The triangle portion of a pennant tends to be shorter in duration than that of a typical triangle pattern. The swiftness of the pennant’s triangle happens because the emotions of the correction are high, and traders aren’t buying into the consolidation of the downtrend 

. In contrast, a regular triangle pattern can last years, and be preceded by small trends.

An effective pennant can tip you off to a powerful trend with a good risk-to-reward ratio trade. However, not all developing pennants are 100% accurate.

If the triangle consolidation phase becomes prolonged, then the possibility of a continuation lower lessens. This means the likelihood of an outright reversal increases, which can frustrate bearish traders.

One way to avoid this frustration is to wait for a breakdown below the lows of the triangle, rather than trying to time a short sell entry at the triangle’s high.

Another limitation of the bear pennant pattern is that if you follow it on a minute chart, the data coming in from other confirming indicators may be flawed. There simply isn’t enough data feeding into the volume or ATR indicator to produce obvious signals. As a result, a smaller chart time frame may not show confirmation of the pattern, even if it eventually plays out.

The bear pennant pattern is an easy-to-spot pattern that’s simple to trade. The structure of the pattern and the indicators that confirm it is simple to follow. Once spotted, the subsequent trades can establish excellent risk-to-reward ratio opportunities.

As a result of this simplicity, the bear pennant pattern is a favorite among crypto traders. 

Candlestick Patterns Professional Traders Use

 – A curated list of candlestick patterns most frequently used by traders

 – Learn the basics of candlestick patterns

 (Chart basics: trend, neckline, wedges)

Bear Pennant: How to Trade with a Bearish Chart Pattern

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Grab Up to 5,000 USDT in Rewards