Every time you buy or sell a token on an exchange and the order fills instantly, a market maker is on the other side. These firms are not charities. They profit from the spread, negotiate listing deals worth millions, and hold enough inventory to move prices. This guide explains who they are, how they operate, and what their presence means for the tokens you trade.
Summary
- Market makers are firms that continuously place buy and sell orders on an exchange, providing liquidity so that other traders can execute without waiting for a natural counterparty.
- The largest crypto market makers, including Wintermute, Jump Crypto, GSR, and DWF Labs, collectively handle billions of dollars in…
