In the cryptocurrency market, market makers (big players, institutions, market makers, project teams, whales, etc.) have similarities with the thinking of traditional financial market makers. However, due to the 24/7 trading in the crypto market, extremely high leverage, extreme information asymmetry, almost no regulation, and extreme retail sentiment, the operations of market makers are more aggressive, more concealed, and more unethical.
The following are the typical core logic of "market maker thinking" in the cryptocurrency market (sorted by importance):
1. Cash flow is king, market capitalization is air
What market makers value most is never the price of the coin, but how much spot liquidity/bullets they can still release.
The purpose of pumping is to sell off, not because they genuinely believe in the project.
Classic formula: Pumping cost < Selling proceeds + Subsequent low-position recovery chips
TRUTHUSDT
Perp
0.020885
-10.82%
LIGHTUSDT
Perp
1.2631
+35.99%
LUNA2USDT
Perp
0.18766
-21.36%