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.

market maker.png

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

Recently, another in the series of the Bybit Engage discussions took place in our Telegram group, and our Bybit Ambassador from

Recently, another in the series of the Bybit Engage discussions took place in our 

 group, and our Bybit Ambassador from Spain, Chingad0r, shared his thoughts on continuation patterns.

A continuation pattern is an indication that the price of a stock or asset will continue its previous trend after breaking out of the continuation chart pattern in question. They are like a ‘pit stop’ in the middle of a price trend — taking a breather if you will! Let’s take a look at some of the most common continuation chart patterns.

A flag is a short-term continuation pattern indicating the mid-point of a longer trend. It is similar to a pennant chart pattern (see next pattern) with a relatively shorter consolidation. It appears after a fast, sharp, and vertical movement, which is known as the ‘’flagpole’’.

Initially, the break-out occurs when there is a substantial increase in volume that acts as confirmation of the move. Later, the formation of the flag is aligned with a drop in volume until break out.

The consolidation period is where the actual flag is formed, due to profit-taking by traders that entered before the sharp movement, and traders who missed it but still think about an opportunity to enter the trade.

The flag usually resembles either a parallelogram or rectangle that tilts in the opposite direction of the flagpole.

If the price breaks towards the direction of the flagpole, and out of the parallelogram or the rectangle formed during the congestion area in the flag.

The longer the consolidation phase takes, the more chance that the momentum which pushed the initial price disappears and the flag pattern fails.

Usually, this should be along with an increase in volume, otherwise, this would a mean a higher risk of failure.

Usually, traders assign the length of the flagpole and add it to the breakout point in the direction of the flagpole as the minimum target.

Always keep in mind overall support and resistance levels on the chart to detect potential weakness and exit with partial profit.

A pennant is also a short-term continuation pattern, and is similar to the flag but resembles a small triangle instead of a parallelogram. It appears after a fast, sharp and vertical movement.

The consolidation period is also similar to the flag, in that it is formed by profit-taking by traders that entered before the sharp movement, and traders who missed it, but still think about an opportunity to enter the trade.

Also like the flag, the break-out occurs when there is a substantial increase in volume that acts as confirmation of the move. 

Later, the formation of the pennant is aligned with a drop in volume until break out.

If the price breaks out of the pennant towards the direction of the previous sharp movement.

Usually, this should be along with an increase in volume, otherwise, this would mean a higher risk of failure.

Usually, traders assign the length of the sharp movement before the pennant as the minimum target.

Always keep in mind overall support and resistance levels on the chart to detect potential weakness and exit with partial profits.

This is formed when the price of an asset oscillates between a support and resistance line several times, touching them, thus creating a channel. Usually, the support/resistance lines are horizontal, and also can slope upward or downward. Either horizontal or sloping lines must be parallel lines.

It is required to have at least 4 points for a rectangle (two points touching the upper resistance, two points touching the lower support).

When the price goes beyond either support or resistance, trade in direction of the breakout.

Breakout is validated if volume increases on it, at least 33%-50% higher at the breakout, or it could be a false breakout.

The height of the rectangle projected in the direction of the respective breakout is the minimum price.

The maximum price projection is the width of the rectangle from the first point to the breakout, projected from that point of breakout in its direction.

This appears during an uptrend or downtrend with a series of higher lows and lower highs.

Consecutive lows in the support trend line joining and consecutive highs in the resistance trend line converge in two trend lines with a certain symmetry.

 means indecision with balanced forces of supply and demand in the market.

If the price is pushed up, the market addresses it with sells, and otherwise if pushed down, the market addresses it with buys.

Usually, volumes drop while this pattern is formed. The price will break out of the triangle along with an increase in volume, towards the direction of the preceding trend.

There is a clear signal if the price breaks out of the triangle towards the direction of the previous trend between 50%-75% of the triangle.

If the trend preceding the symmetrical triangle is an uptrend, the price should breakout to the top, and the other way round in case of a downtrend. 

Breaking out in the opposite direction invalidates the signal. A breakout that occurs before or after the 50-75% range into the symmetrical triangle pattern will probably fail.

The projection of the widest part of the triangle, is added/subtracted to the breakout point, depending on the direction of the previous trend.

Alternative: parallel to the support is a trend line sloping down towards breakout, which is an extension towards the targeted price (the green line as demonstrated is the trend line, an uptrend, and the target price would be the length of the handle (pink line), in the direction of the green one).

This is similar to the symmetrical triangle but the upper trend line is a horizontal resistance – usually bullish, so very reliable when the continuation pattern is about an uptrend. There are slightly more buyers than sellers.

The market becomes overbought and the prices initially drop. The buyers re-enter the market and prices return to the previous high, and selling occurs once more. Buyers then re-enter the market, but at higher prices than before. This results in a steady high but a series of higher lows.

Prices break through the resistance of high peaks formed, getting pushed higher with new buyers and increased volume.

When price breaks out of the ascending triangle to the upside.

Should take place at around 66% of the triangle.

A breakout near the apex of the triangle invalidates the signal.

The projection of the widest part of the triangle added to the breakout point.

Alternative: parallel to the support is a trend line sloping down towards breakout, which is an extension towards the targeted price (see above chart for demonstration).

This pattern is similar to the symmetrical triangle but a lower trend line forms horizontal support. Usually bearish, so very reliable when continuation pattern is about a downtrend. Slightly more sellers than buyers. The market becomes oversold and prices initially climb. Sellers re-enter the market and prices return to the previous low, and selling occurs once more. Sellers re-enter the market again, but at lower prices than before. This results in a steady low but a series of lower highs.

Prices break through the support of lows formed, getting pushed lower with new sellers and increased volume.

When the price breaks out of the descending triangle to the downside. Should take place at around 66% of the triangle. A breakout near the apex of the triangle invalidates the signal.

Projection of the widest part of the triangle subtracted to the breakout point.

Usually appears in longer timeframes (daily, weekly), and not so common short charts ( intra-day).

A bullish continuation pattern consisting of two parts: cup and handle.

A round bottom is formed after a series of subtle reductions in prices interrupting an uptrend, reaching later the previous level before the decline started.

Should form a consolidation area or relevant support area.

The decline should retrace between 1/3 of the previous advance and not more than 2/3 of the advance.

The handle is a trading range that forms a consolidation once the cup was finished.

Can be a bullish flag/pennant pattern, or also a short pullback.

The handle should be ideally about a 1/3 of the cup’s height (although if the market is volatile, this could be between 1/3 and 1/2, or in extreme cases, 2/3, which conforms with Dow Theory).

The shorter (in time and distance) the retracement in terms, the more bullish is the pattern.

The pattern is completed when price breaks resistance level formed by the peaks of cup’s borders.

Long entry signal, when price breaks over resistance formed at top of the cup.

Should go along with an increase in volume, or could be a false break out.

Stop loss at lower 1/3 of the cup level, as price shouldn’t retrace more.

Projection of the cup’s depth to be added to the breakout point as a minimum price target.

Price charts can offer great insight but aren’t always a guarantee and on top of that, being used improperly can provide wrong signals. It is impossible to have a 100% accurate forecast.  As with anything in trading, they should be used sensibly and with care.

* This content does not represent the views of Bybit. As such, it should be not be seen as trading and financial advice, it is merely an opinion. Trading is done at your own risk.

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)

Continuation Patterns in Crypto Trading

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