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

Stablecoin

Looking to find out more about USDT vs. USDC? Explore our detailed guide to find out the differences and similarities between USDT and USDC.

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Cryptocurrencies have a reputation for being highly volatile, but not all blockchain tokens vary in value. There's a whole class of cryptos, called stablecoins, that prioritize keeping their price as regular as possible. Many of these 

, such as USDT and USDC, maintain their price by pegging their value to the United States dollar. However, even if their prices seem similar at a glance, USD-pegged stablecoins aren't identical. If you're interested in learning more about stablecoins, explore this guide to find out the differences between USDT and USDC.

 is the largest stablecoin in the cryptocurrency market. Also called Tether, it's been operated by the Tether Limited company since 2014. Tether is pegged to the U.S. dollar, and is backed by a blend of gold and fiat currency.

 is a stablecoin that was introduced in 2018. Previously called USD Coin, this crypto is issued by the Centre Consortium, a joint venture between Coinbase and Circle. USDC is backed by the U.S. dollar and U.S. Treasury securities. Its value is pegged to that of the U.S. dollar.

USDT vs. USDC: Differences and Similarities

A single USDT or USDC token might have roughly equivalent values, but this doesn't mean they're interchangeable. There are many different factors to consider if you're looking for the differences between USDC and USDT.

Both USDT and USDC are fiat-backed stablecoins pegged to the U.S. dollar. This means that they're set up to always have the same value as the American dollar. To help with this goal, their parent companies hold a reserve of dollars to guarantee the value of their coins. 

However, USDC has some additional backing that USDT doesn’t have. In addition to its reserve of dollars, it also holds some 

. These cash-equivalent assets provide an extra level of security for USDC.

USDT is significantly older than USDC. It was launched in 2014, whereas USDC didn’t exist until four years later. USDT also happens to be the first fiat-backed stablecoin in existence. By the time USDC arrived, USDT was already an industry leader with years of brand recognition. 

USDT and USDC are both leaders in the stablecoin markets. For many years, they've routinely outranked their competitors. However, USDT still leads USDC by 

, with an approximate market capitalization of $110 billion as compared to USDC's $33 billion. 

Keep in mind that while USDT is traded more by investors, USDC might be used more for 

 transactions. Data from Visa suggests that in 2024, USDC began to outpace USDT as the preferred choice for stablecoin crypto payments.

Both USDT and USDC offer the option to redeem stablecoins. As part of their mission to demonstrate that stablecoins are just as reliable as fiat currency, their users can trade their stablecoins for U.S. dollars. However, USDT’s redemption capabilities are somewhat more limited. Users can only redeem funds when they hold at least 100,000 USDT, while USDC users can redeem funds as soon as they hold 100 USDC. In addition, users report that USDC's redemption process is simpler and faster.

When it comes to transparency, USDT and USDC have drastically different outlooks. Over the years, USDT has faced many claims about misleading investors. There have been rumors of price manipulation, as well as assertions that Tether doesn’t actually hold the amount of reserves it claims to possess. These concerns regarding transparency have been partially proven in investigations. At one point, Tether was fined by regulatory bodies for holding the reserves that it claimed to have in place 

. Additionally, concerns were raised as to the specifics and integrity of its holdings.

Meanwhile, USDC has been fairly committed to transparency. It uses an independent company that audits its reserves and releases reports to the public on a monthly basis. Compared to Tether's quarterly audits, USDC's audits are more frequent, and provide a more detailed breakdown of its asset reserves.

When it comes to reputation, each of these stablecoins has its pros and cons. USDT is usually seen as an icon within the stablecoin industry, being one of the first and also most recognizable. When users are discussing stablecoins, Tether invariably comes up. Unfortunately, USDT has also had some prominent public relations failures that make investors more wary of its brand.

USDC doesn't have quite as many fans as USDT, and it's viewed as less of a trailblazer. However, its many fans point out that it's much more reliable than Tether. USDC was created partially in reaction to Tether's transparency issues, so investors often speak of it as the safer, more secure option.

As stablecoins, USDC and USDT are both generally valued around $1. However, stablecoins don't generally maintain a value of precisely $1 all of the time. Not only are there occasional fluctuations, such as a coin's price dropping to (for example) $0.9996, but situations can also arise in which prices become drastically altered. These incidents, called depegs, can greatly destabilize the market.

Both USDC and USDT have experienced infamous depegging incidents. While USDT has dropped as low as $0.99, USDC has gone all the way down to $0.87. Although both coins have managed to easily recover in value, any fluctuation can cause problems for investors. Analysis suggests that USDC has had 

Both USDT and USDC claim to follow international financial compliance measures. This means they follow industry best practices for protecting both their funds and their consumers. However, USDT's claims are a little more difficult to verify as compared to those of USDC, whose audits show that its reserves are held within regulated financial organizations so that it can prove it follows laws and recommendations for protecting its investors.

USDC and USDT are both known for their flexibility. They run on multiple blockchains and are used as currency at a variety of traditional and web3 businesses. Though USDT has greater liquidity and supply than USDC, both coins have liquidity large enough to easily support vast amounts of trading. 

There are some differences in where these coins are available. USDT operates on 12 chains, including 

. Meanwhile, USDC is natively supported on 16 chains, including Ethereum, 

 and others. Regardless, even if USDC is on more chains, USDT is accepted by almost twice as many businesses.

As you can see, USDT and USDC both have their own pros and cons. When it comes to USDC vs. USDT, the right choice for you will simply depend upon your priorities and how you plan to use the coin. 

USDT or USDC — Which Is a Better Investment?

Stablecoins don't shift a lot in price, so neither USDT nor USDC will avail you of the potentially wild profit increases of some other types of cryptocurrencies. However, they still have a lot of uses in the 

 investment world. Both USDT and USDC are popular choices for investors who choose to participate in 

When it comes to investing, USDT has a slight edge over USDC. Either one can work well, but USDT simply has a much larger market share. Its larger supply and trading volume and higher market cap all lead to more opportunities for investors. Furthermore, USDT's popularity means it's used in more web3 projects. This all contributes to making USDT more available when you want to use DeFi investing to earn passive income on your tokens. 

Meanwhile, although USDC's slightly more frequent rates of depegging might make it seem scary for an investor, depegging also comes with some opportunities for profit. Not only can you try to use options to 

 the coin, but you can participate in various token 

 in stablecoin prices. However, even if USDC is useful for these sorts of techniques, keep in mind that arbitrage bots, options and other similar investment strategies can be especially risky. Often, only advanced traders who invest at optimal moments end up profiting. 

Which Should You Pay With — USDT or USDC?

If you plan on using either of these stablecoins to buy more crypto or make other purchases, USDC is often the better choice. The coin has a better track record for transparency and regulatory compliance. Furthermore, it's easier to convert your USDC back into U.S. dollars, which makes it a flexible payment choice. 

The other primary consideration is USDT's widespread adoption. Even if USDC makes more sense as a payment method, some businesses only accept USDT. Therefore, if you can only choose one stablecoin and want to be able to spend it in many locations, USDT might be the better pick for you.

If you prefer long-term planning, it's essential to consider the futures of both USDC and USDT. Right now, USDT's popularity makes it the go-to option for many activities. However, more and more crypto enthusiasts are becoming wary of Tether. USDC’s reputation as the safer option might serve it well in the future. 

Industry data paints an intriguing picture of which coin is on the rise. Not only has USDC been 

 in the past year, but the summer of 2024 has led to big changes for this token. When Circle became the first stablecoin to receive approval from European regulators, traders took note, and tremendous growth in trading volume took place for USDC. By the end of July, volume was 

This has led to a lot of speculation about Tether finally being outpaced by USDC. Crypto trends suggest that regulation will become even more common in the future — and USDC is already doing a great job of satisfying regulations. Unless USDT is able to greatly improve its security and transparency, it may struggle to keep up.

Ultimately, both USDT and USDC have many reasons to hold their positions at the top of the stablecoin market. While USDT is an industry icon that holds large market shares, USDC has managed to become one of the most reliable and transparent choices. Currently, there's no definitive decision on which one is better, but rising interest in USDC suggests it might be the stablecoin of the future.

USDT vs. USDC: The Battle for Stablecoin Supremacy

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