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

Investing

Trading

Have trouble sticking to your trading plan? Why not try OCO orders as they help manage your risk while dealing with the volatility of crypto.

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The crypto market is attractive to new and experienced traders because of its strong trends, which also bring increased volatility and risk. One way experienced traders manage this increased risk is by incorporating one-cancels-the-other (OCO) orders into their strategies. 

 orders help traders lock in profits, manage risk, and easily enter and exit positions. This allows traders more time to analyze the market with less time spent babysitting each trade. Curious about how to include OCO orders in your arsenal of 

 tools? In this article, we’ll discuss what is an OCO order, common ways to use it and how to place an OCO order.

An OCO order is actually a pair of conditional orders. It specifies that if one order fills, then the other order is automatically canceled. The OCO order is commonly used to manage risk in an open trade, or to straddle the current market price in entering a new position.

Usually, the OCO order is a group of two traditional orders that you may be familiar with, the 

The stop order is placed at a specific price below the current market, such that if the price is triggered, the order converts to a market order. On the other hand, the limit order, which is also placed at a specific price, has a price location better than the current market price. 

For example, if Bitcoin is trading at $50,000, a stop order to buy would be placed at a price above the current market price. A stop order to sell would be placed below the market price.

Additionally, a limit order to sell is placed above the current market price, while a limit order to buy is placed below the market price.

The grouping of these orders is conditional because they cannot execute at the same time. One of the orders will cancel when the other order executes. Think of the pair of orders as being on a first come, first served basis. The order which executes first stays, while the remaining order is canceled.

More experienced traders that know what is an OCO order tend to rely on it for a variety of reasons. For example:

The biggest reason to use OCOs is from an operational perspective: they put a trading plan in place that calls for certain prices in order to enter and exit the market. The OCO orders are placed at those specific levels, and the trader doesn’t have to be present in front of their charts to execute the positions. This frees the trader to analyze other markets for potential trading opportunities.

The second-biggest reason traders love to use OCO orders is because they remove emotions from trading. Many times, entering or exiting a position can be an emotional roller coaster.

As you’re entering into a trade, you might second-guess whether you’re entering at a good price. Then, when you decide to exit the position for profit, you might feel like there’s more gain available, fearing that you’re leaving money on the table. Or, if you exit the position for a loss, you might feel like the market may turn around and move back to break even — or better.

These emotions are magnified when volatility is high, which is frequently the case in the crypto market. However, when a trader utilizes OCO orders, the emotion of the moment is removed and the trader has more energy to focus on the actual price action. Thus, trading with OCO orders helps you stick to your original trading plan, regardless of the ongoing volatility.

There are three general scenarios when a trader will want to utilize OCO orders. Nearly all trades will fall into one of these three circumstances, so traders need to have a thorough understanding of OCO orders.

The most common situation for which traders implement an OCO order is when they’re managing risk on a currently open position. Let’s say that a trader is currently longing Bitcoin. This trader wants to manage risk so that if the market moves against them, they’ll exit the trade with only a small loss. On the other hand, if the market moves strongly in their favor, then they’ll exit the trade with a profit.

The trader has entered the market near $57,000 and, according to their analysis, a correction back below the previous week’s low at $51,000 would negate the momentum behind the current uptrend.

On the other hand, the all-time high for Bitcoin is resting near $64,000, and the trader believes BTC may find resistance and trade lower if it approaches the previous all-time high. As a result, the trader will place a sell stop order at $51,000 and a sell limit order at $64,000.

The moment one of the orders is executed, the other order needs to be immediately canceled. Therefore, the trader bundles these orders together as an OCO order. In this scenario, the trader has essentially straddled the market with a stop-loss order and a take-profit order.

Another common scenario for implementing OCO orders is when the market is trading within a defined range, and the trader wants to join the next trend. However, the trader is unsure of the direction of the next trend, so they place a sell stop order below support and a buy stop order above resistance.

For example, the non-farm payroll jobs report is oftentimes a market-moving event. Going into the news release, traders are uncertain how the market might respond. Therefore, traders will wait about 15 minutes after the release, then mark the high and low price points to establish a straddle to enter the position.

On October 8 in the illustration below, the non-farm payroll report is released, creating a few minutes of volatility.

A trader will then identify the high price of the release, in this case near $55,177. A buy stop order is placed so that if this price is reached, the order converts to a market order to buy.

The trader will then identify the low price of the release, in this case near $54,547. A sell stop order is placed at $54,547 such that if the market reaches this price, the order converts to a market order to sell short.

 breaks below the support, triggering the short entry.

These two orders are then bundled together so that when one of the orders executes, the other order is immediately canceled.

Deciding Between Buying Two Different Cryptocurrencies

There are times when the trader is interested in buying two different cryptocurrencies, but has limited funds to invest in both. An OCO order can be utilized on each cryptocurrency so that when a buy point is reached for one of them, the other order is automatically canceled.

For example, let’s say a trader is interested in buying Solana and Tezos, but doesn’t have enough capital to invest in both. Therefore, they set an entry order to buy Solana at the 61% 

 level near $143. Additionally, they set another entry order to buy Tezos at the 61% Fibonacci retracement level near $6.50.

The trader will then wrap the two orders together as an OCO. Therefore, the moment the first of those two orders triggers, the second entry order is immediately canceled, preventing two positions from being entered into.

This technique of OCO trading is especially helpful when dealing in leveraged products so the trader isn’t overleveraged in their account.

Know what is an OCO order? Now it’s time to learn how to place it. How you set up OCO orders on various platforms will be different. Some platforms create an easy-to-understand user interface that packages the orders together for you automatically. Other brokers may require you to bundle your OCO orders together.

With the advance of new technologies, most brokers are providing easy-to-use interfaces that make creating an OCO order fairly simple.

For example, let’s assume that a trader wants to use TradingView to buy Bitcoin at the market price, using an OCO to manage risk.

When the trader checks the boxes next to “Take Profit” and “Stop Loss”, they’re creating two additional orders once they buy Bitcoin.

The moment the trader pushes the “BUY 1 BYBIT:BTCUSD MKT” button, they’ll be long one bitcoin. Simultaneously, they’ve established a take-profit limit order to exit the market at 7,500 points away, or at $61,105. Additionally, they’ve established a stop-loss order at 2,500 points away, at $56,105.

The take-profit and stop-loss orders are packaged together as an OCO. The moment either $61,105 or $56,105 is hit, the opposing order is canceled.

Other brokers might require you to create the individual orders, and then link them together. For example, the broker may suggest you create both the stop-loss order and the take-profit limit order individually. The broker would then allow you to link those together as an OCO. The important thing to remember is to check with the platform first to see how they handle OCOs.

With this guide, we hope your questions regarding what is an OCO order have been answered. Trading with OCO orders effectively helps both new and experienced traders navigate the volatile cryptocurrency market. Rather than watching each tick of the market, OCO traders can manage their risk using automation. This frees their minds to focus on analyzing other markets, or following the market’s price action.

The beauty of the OCO order is that you can straddle the current price with the appropriate order. Once one of the orders executes, the remaining order is automatically canceled. When it comes to managing your trades, OCOs can help keep it simple.

OCO Orders: How They Can Limit Your Crypto Trading Risk

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