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

Bullish engulfing candle signal traders an upcoming reversal in price trends. Learn how to trade strategically with these signals today.

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The bullish engulfing candle is a Japanese 

 that can help traders analyze the market sentiment and identify a new bull trend when it is kicking off. Meanwhile, a bearish engulfing pattern indicates a confirmation that sellers are shorting, hence signaling a potential trend reversal. Once you are familiar with the bullish and bearish engulfing pattern, it is easy to spot, providing traders with good risk-to-reward ratios.

As you read this article, we will help you understand what a bullish engulfing candle is, when and how this pattern appears, and how to trade with it. We’ll be including some tips and tricks to apply the bullish engulfing pattern to crypto trading. 

The bullish engulfing candlestick pattern refers to a bullish trend reversal when preceded by a cluster of red or black candlesticks showing a bearish trend. It is useful for signaling the start of a new uptrend, as the bullish green or white candle body completely surrounds or engulfs the previous day’s red or black candlestick.

When bullish engulfing occurs, it means more buyers entered the market, pushing the price upward, hence resulting in a trend reversal. This candle usually occurs at the bottom of a downtrend.

Characteristics of the Candlestick Formation

The bullish engulfing candlestick pattern is a two-candle formation (candles A & B below).

 (A) must be a down candle, colored red on most charting packages (or black if using a white/black color scheme). The size of the red candle can be large or small. The key to the pattern is the size of the second candle.

 (B) will need to engulf or overlap the first candle. Technically, this means the opening price for the second candle must be lower than the closing price of the first candle. However, in the crypto markets, there is no opening or closing of a trading period. You can transfer coins 24 hours a day, 7 days a week.

Consequently, the second candle simply needs to overtake and engulf the first candle.

When Does a Bullish Engulfing Pattern Appear?

The bullish engulfing candlestick pattern is a bullish reversal pattern found at the end of a downtrend. When visible, this bullish pattern signals that the previous downtrend has ended and a potential reversal trend (a new uptrend) is beginning.

First, there needs to be a correction of an upward movement. From January 2021 to February 2021, Bitcoin’s uptrend resulted in a 100% price increase. Bitcoin then experienced a partial correction, trending lower to February 28, 2021.

Second, there needs to be a kickoff to the resumption of the old uptrend. On February 28, 2021, Bitcoin rocketed higher after the partial retracement. The bullish candle engulfed the previous candle, signaling a bullish reversal.

After Bitcoin carved the bullish engulfing pattern, the market extended higher by another 48%.

How to Trade Crypto with a Bullish Engulfing Pattern

A bullish engulfing pattern technically requires the second candle to open lower and reverse high enough to fully engulf the first candle. However, since the crypto market is operating 24/7, therefore, it is extremely rare to have a gap lower at the same time a new candle appears. 

The chart above, involving Bitcoin, is a great example of what to look for in a bullish engulfing pattern.

Notice how the wick on the right (green) candle ends below the wick of the left (red) candle. This signals the market briefly traded lower before accelerating higher. This brief penetration lower, though not required, strengthens the signal for the engulfing pattern.

The engulfing pattern is confirmed as being completed when the second candle closes above the opening of the first candle. At that point, the trader can open a bullish position in the cryptocurrency with a 

 just below the swing low of the engulfing pattern.

Sometimes, the market will consolidate because prices have just rocketed higher. Conservative traders may wait for a breakout above the high of the right candle to occur and then enter long into the position. A break above the high would confirm a resumption of the uptrend. The significant risk would be set at the same area, just below the swing low.

Advantages of Trading the Engulfing Pattern

The bullish engulfing pattern is followed by many traders primarily for a couple of reasons. 

First, the pattern is very easy to identify. Engulfing is a two-candlestick pattern in which one of the candles produced is extremely large. As a result of the large candle, the pattern is easy to spot on a chart, once you know what to look for.

Secondly, after the engulfing pattern is confirmed as being completed, you can receive an attractive risk-to-reward ratio into the position. 

The stop loss and risk level for trading can be placed at the swing low of the engulfing pattern. This makes it relatively easy for traders to target at least twice the distance of their stop loss, creating a 1:2 risk-to-reward ratio. 

Th risk-to-reward ratios are important for managing trader profitability. A 1:2 risk-to-reward ratio means that even if you win on only 50% of your trades, you will still be profitable.

Bullish Engulfing Pattern Trading Tips for Crypto

As you can see, there are several advantages to trading the bullish engulfing candle pattern. However, by itself, the pattern is limited to its effectiveness. Just as multiple strands of a cord make the cord stronger, other tools can be used to complement this bullish engulfing pattern — making the engulfing pattern stronger.

Below, we’ll share three tools to help strengthen the signals.

Tip #1: Horizontal Support for the Engulfing Candlestick

If the crypto market is in a strong uptrend, then we will see a series of higher highs and higher lows on the price chart.

Each new higher high is breaking above an old high. After successfully breaking above the old high, prices tend to consolidate and correct. Within the crypto market, it is common for prices to retrace back to the old broken high.

In the example above, Bitcoin had gained 224% and needed to consolidate. It corrected about 20% and landed near $10,120, which was a previous high price back in May and June of 2020. A bullish engulfing pattern emerged, which was the start of a 500% uptrend.

If a bullish engulfing candlestick pattern appears near an old broken high, then we have a strong signal that the bullish trend is ready to resume.

Tip #2: Trend Line Support Near the Engulfing Pattern

It is quite common for the crypto market to scream higher without taking much of a break. Therefore, the old highs and broken resistance may never come into play, yet the market continues its upward trend.

Another tool to help you strengthen your engulfing signals is a bullish support trend line.

The bullish engulfing candlestick pattern provides its best signals after the market has consolidated lower. If this consolidation is terminating and reversing at a bullish trend line with a bullish engulfing candle present, then the market is giving you a strong bullish signal.

In the image above, we see LINK trying to recover from the March 2020 pandemic sell-off. As the uptrend began to take root, LINK carved a pattern of gaining, then consolidating.

An uptrend line could be created with the ending points of the corrections. Sure enough, LINK popped higher at the trend line, with a bullish engulfing pattern sending the altcoin up 25% in a couple of days — and by nearly 8x over the next 4 months.

Tip #3: Moving Average as a Bullish Engulfing Pattern Indicator

Many traders and large institutions keep a close eye on an indicator called the 

, as it provides technical support to the market. 

If the crypto price chart corrects down to the moving average and the engulfing pattern carves, this is a strong signal the trend may reverse higher.

In the image above, we are looking at Bitcoin on a 4-hour price chart. Bitcoin was correcting its previous uptrend and tagged the 200-period simple moving average. At that point, a bullish engulfing pattern appeared to kick off another trend of 250%.

The simplicity of spotting the bullish engulfing candlestick pattern makes it a popular choice among traders. The engulfing pattern does offer traders an attractive risk-to-reward ratio when using it to enter into crypto trades. 

To receive the biggest benefit of trading the pattern, we suggest coupling the pattern with other charting tools for technical analysis support. For example, a market correcting down to horizontal support, trend line support, or a simple moving average followed by a bullish engulfing pattern is a strong signal the trend may continue higher.

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)

How to Use a Bullish Engulfing Candle to Trade Entries

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