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

Bybit Learn

DeFi

Hyperliquid is a decentralized perpetual exchange built on its own high-performance Layer 1 blockchain. Learn more about how it works here.

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 (DEXs) have emerged as a popular alternative to 

 (CEXs) in the cryptocurrency market. These platforms offer users greater security, transparency and control over their assets, but they also face challenges regarding scalability and cost efficiency.

Hyperliquid has emerged as a potential solution, offering higher throughput at lower costs than other DEXs. In this article, we’ll explore Hyperliquid's core features, examine its approach to solving key 

 challenges and discover how it’s paving the way for more efficient trading in the DeFi ecosystem.

 is a decentralized perpetual exchange built on its own high-performance 

. It enables fast, low-cost trading of perpetual futures with full on-chain transparency and performance comparable to centralized exchanges.

Hyperliquid was founded by Harvard classmates Jeff (Yan) and iliensinc, who bring extensive experience from high-frequency trading firms like HRT and Citadel. Their deep expertise in market making and 

Hyperliquid emerged from the founders’ realization that existing DEXs were hindered by liquidity issues and high transaction costs. Therefore, they aimed to build a platform that could combine the performance of CEXs with the inherent benefits of 

In June 2023, Hyperliquid launched its mainnet and achieved quick success. Within six months, the platform surpassed all other perpetual DEXs in trading volume and attracted over 1,000 new daily users to establish itself as a leader in the DeFi space.

Hyperliquid aims to solve several critical problems in the current DeFi ecosystem.

Hyperliquid operates on a Layer 1 blockchain custom-built for high-performance trading.

Hyperliquid offers a suite of innovative features designed to provide a user-friendly experience for both traders and market makers. Let's explore each of these features in detail.

 sets a new standard for DEXs by offering an experience that rivals centralized platforms. Traders can access a user-friendly order book for 

 and perpetual futures trading, allowing for seamless execution of complex trading strategies.

, users can place conditional orders, giving them unprecedented control over their trading strategies. The platform's real-time price charts and market depth visualization tools provide traders with the information they need to make informed decisions quickly.

With access to over 20 underlying assets and leverage of up to 50x, Hyperliquid Trade caters to those seeking higher-risk, higher-reward opportunities. Its low-latency order execution ensures that trades are processed almost instantaneously, a crucial factor in fast-moving markets.

 represent a revolutionary approach to liquidity provision in the DeFi space. The Hyperliquidity Provider (HLP) vault is a standout feature, as it democratizes market-making by allowing retail users to participate in activities typically reserved for large institutions.

Users can deposit assets into these vaults to support trading pairs and become 

. What's innovative about Hyperliquid's approach is the use of 

 strategies to optimize returns for these providers. Now, even users without deep knowledge of market-making can potentially earn yields on their deposited assets.

 is a critical consideration in the design of these vaults. Built-in features protect vault participants from extreme market movements, providing an extra layer of security often missing in other DeFi protocols.

Managing a diverse crypto portfolio can be challenging. However, the 

 feature simplifies this process. This comprehensive account management tool offers real-time tracking of open positions and account balances, giving users an instant snapshot of their trading activities.

One of the standout aspects of the Portfolio feature is its integrated risk management tools. Users can set 

 and take-profit levels directly from their portfolio view, ensuring they always have control over their risk exposure.

Recognizing the power of community growth, Hyperliquid has implemented an innovative 

 program. This feature incentivizes user acquisition by allowing existing users to earn a percentage of the trading fees generated by their referrals.

The Referrals program uses a tiered reward system that’s based on the volume of referred users. This system encourages active community members to introduce more high-volume traders to the platform, creating a virtuous cycle of growth and liquidity.

Hyperliquid provides easy-to-use referral links and a comprehensive tracking dashboard to make the referral process as smooth as possible. Such transparency lets users monitor their referral performance and earnings in real time.

 is an innovative loyalty program that rewards active users and enhances platform engagement. This feature gamifies the trading experience by allowing liquidity providers and users to earn points, based on their trading volume and liquidity provision.

Traders can redeem their accumulated points for tangible benefits such as trading fee discounts, giving them a financial incentive to remain active on the platform. In the future, points may also grant access to exclusive features, or even play a role in platform governance, potentially giving long-term users a say in Hyperliquid's development.

Following is a step-by-step guide to using Hyperliquid.

 (e.g., MetaMask) to the Hyperliquid platform.

Use the EVM bridge to transfer assets from Ethereum-based networks (such as Arbitrum or Ethereum) to Hyperliquid’s Layer 1 blockchain.

Familiarize yourself with Hyperliquid’s user-friendly interface, and navigate through the various markets and available trading pairs.

Choose your preferred trading pair and submit buy or sell orders. Depending upon your strategy, you can place market, limit or stop orders.

Track your open positions in real time. Additionally, adjust or close positions as needed to manage risk or capture profits.

You can deposit assets into Hyperliquid Vaults to earn yield and participate in liquidity provision.

Maximize your benefits and earn points by participating in Hyperliquid’s Referrals program, and explore other features that offer rewards.

Hyperliquid offers a seamless, user-friendly experience for both traders and liquidity providers. By following the above steps, users can take full advantage of the platform's high-performance trading, efficient asset management and ecosystem engagement while benefiting from the transparency and scalability that define Hyperliquid.

 has been announced, there’s speculation in the community about a potential Hyperliquid token distribution. The anticipation is heightened because Hyperliquid has been developed without venture capital backing, potentially allowing for a more equitable token distribution to users and the community.

Users who actively engage with the platform through trading, liquidity provision and community participation may be well-positioned to benefit from any future token launch or airdrop events. However, it's important to note that this is speculation, and users shouldn’t make financial decisions based solely on airdrop expectations.

Hyperliquid has made significant progress since its inception:

Based on current trends in the DeFi space and Hyperliquid's focus on high-performance trading, potential future developments could include further expansion of supported assets, enhanced cross-chain capabilities and continued optimization of the platform's unique Layer 1 blockchain.

Hyperliquid is pushing the boundaries of DeFi by combining the performance of CEXs with the transparency and efficiency of DEXs. As we continue to see rapid growth and innovation in the DeFi space, it's clear that Hyperliquid is well-positioned for success, and will play a significant role in shaping the future of on-chain trading. 

Hyperliquid: Delivering High Throughput at Lower Costs

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards