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15 Best Crypto Market Makers to Boost Your Trading in 2024

Written by

Geri Mileva

Last Updated: Oct 10, 2024

13 mins read

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The crypto market is projected to grow in the coming years and is forecasted to reach a revenue of $11.71 billion in 2023. Market makers can help you take your exchange or digital assets to the next level. They can help you manage liquidity in the market by buying and selling such assets, given the fact that some crypto platforms and markets require a certain level of liquidity. Moreover, liquidity ensures that purchases are made at a fair price, which helps mitigate the need for arbitrage. Lastly, in the case of volatile crypto markets, liquidity can establish stability.

What Is a Market Maker in Crypto?

A crypto market maker employs different strategies to ensure that a digital asset has liquidity and can maintain that characteristic. Liquidity refers to how easily a digital currency can be converted or swapped with other assets, tokens, or fiat currencies. A crypto market maker is typically an individual or entity that has in-depth knowledge of order books, algorithmic tools, and market making strategies. A market maker has several goals aside from providing liquidity. These include managing risks and tightening spreads between prices, creating trades that are efficient and cost-effective.

How Does Crypto Market Making Work?

There’s no one-size-fits-all solution when it comes to ensuring that an asset has liquidity on a trading platform. A market maker achieves this by creating a two-way market through buying and selling assets. This ensures that an asset remains liquid for both buyers and sellers, allowing them to trade at fair market prices on their preferred trading platform. This practice helps mitigate the risk of price manipulation due to the largely unregulated nature of such markets.

List of the Top 15 Crypto Market Makers

Finding the best market makers can be challenging, especially if you don’t know what they do or what they can offer. This guide covers 15 of the top market makers in the crypto sphere, including what they do and what their pros and cons are.

1. DWF Labs

DWF Labs is the new generation Web3 investor and market maker, one of the world’s largest high-frequency cryptocurrency trading entities, which trades spot and derivatives markets on over 60 top exchanges. DWF Labs provides resources and capital required for success in Web3. Comprehensive technical, regulatory, and business knowledge helps founders navigate the dynamic Web3 landscape.

Pros	Cons
✅Provides market liquidity	❌Works only with T1 projects and exchanges
✅Has competitive OTC trading solutions	❌Has very strict project assessment procedure
✅Invests in early stage projects

2. Vortex

Vortex is an algorithmic market maker and token adviser, ranked as a best market maker in 2023 by client retention rate. Unlike many competitors, Vortex is a full-fledged token partner who helps clients with listings, BD development, marketing and even VC raises.

The company utilizes highly advanced liquidity provision algorithms which keep even most volatile markets efficient 24/7. Vortex always works on a client-oriented approach, ensuring that all key price/profit targets are set by the client himself and executed properly by the company’s trading team. As of today, Vortex is a team of 30 and is present in London, Dublin, Turkey and US, expanding to Hong Kong in 2024.

Pros	Cons
✅Tailors every strategy specifically for each client	❌Legal entity required to cooperate
✅Best client retention rate among competitors	❌No self-managed solutions
✅Best price – quality ratio
✅Regular strategy updates
✅Access to online easy-to-use dashboard for each client

3. Cumberland

As a crypto market maker, Cumberland provides dependable liquidity for digital assets. Founded in 2014, it’s a subsidiary of DRW, a diversified trading firm. It trades products such as spot cryptocurrency liquidity, listed options and futures, bilateral crypto options, and non-deliverable crypto forwards. It leverages its parent company’s over three decades of experience in risk management and technical analysis to help investors, traders, and institutions uncover new opportunities and ventures. It leverages price improvement technology and algorithmic trading strategies to help find optimal prices, particularly for larger trades.

Pros	Cons
✅Provides 24/7 access to relationship managers	❌Transacts in limited fiat currencies
✅Trades over 50 cryptoassets, including stablecoins	❌Trading fees can vary depending on factors like current index prices, volatility, and market liquidity
✅Capacity to execute trades with minimal market impact
✅ Uses traditional voice markets and Marea, an electronic trading solution that provides real-time, two-way pricing
✅Through its parent company, it supports the Climate Vault to help companies offset their carbon footprint
✅Discreet execution of large orders
✅All trades are settled post-trade

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4. Kairon Labs

Kairon Labs’ crypto market making services covers utility tokens and cryptocurrencies. As one of the best global crypto market makers, Kairon Labs uses trading strategies that are also used in traditional financial markets. Moreover, its experience as a market maker includes the bull run of 2017 and the crypto winter in 2018. Its partners include Flanders Investment & Trade, One Big Fund, and 3x Capital.

It makes use of custom algorithmic strategies, advanced analytics, and an in-house proprietary software to increase token liquidity, perform arbitrage between pairs and exchanges, mitigate price fluctuations, and attract investors and traders. Its unique platform helps traders and investors access the crypto market with relative ease and increased liquidity. Aside from market making services, Kairon Labs also offers exchange listings, IP licensing, secondary market advisory, and sponsorships.

Pros	Cons
✅Uses custom algorithmic trading strategies	❌Doesn’t provide inventory for clients
✅Algorithm used comes with built-in safety features
✅Offers tailored inventory hedging programs
✅Creates long-term, sustainable relationships with partners
✅Provides in-depth analysis of order books to improve liquidity
✅Supports 100+ cryptocurrency exchanges, including Binance and Kraken
✅Provides direct communication through channels like Telegram and Whatsapp
✅Regular, round-the-clock tweaking of trading strategies

5. GSR Markets

With 10 years of deep crypto market expertise, GSR helps provide liquidity to entrepreneurs, as well as to cryptocurrency exchanges, in all market conditions. Some of the trading partners and networks GSR works with include Kraken, Coinbase, the Chamber of Digital Commerce, and Gemini. Its area of expertise covers:

Liquidity Provision – Leverages its in-depth understanding of liquidity for digital assets to provide tailor-made liquidity solutions.
Risk Management Strategy – Offers various risk management strategies designed for miners, cryptocurrency exchanges, and hedge funds to help reduce volatility.
Programmatic Execution – Uses its proprietary trading technology, which can be configured based on unique trading needs, to help partners get the optimal price for their digital assets.

Pros	Cons
✅Offers customized liquidity solutions and strategies	❌No online dashboard
✅Provides market insights and analytics	❌Doesn’t offer profit-sharing
✅Works with exchanges of all sizes
✅Over 60 exchange integrations
✅Software used is capable of measuring performance on a granular level
✅Provides daily market reports
✅Uses an in-house trading software

6. Jump Trading

Jump Trading is a crypto market maker that leverages research to equip global financial markets for success. Like the other crypto market makers on this list, Jump Trading helps provide liquidity for digital assets (spot and derivative markets) and cryptocurrency platforms. Through Jump Crypto, Jump Trading conducts high-frequency trading and implements enhanced trading strategies.

Pros	Cons
✅Works with all major digital currency exchanges	❌Its digital assets trading unit Jump Crypto is retreating from crypto trading in US markets
✅Offers different liquidity solutions like customized API integrations and smart order routing	❌No online dashboard

7. Alphatheta

Alphatheta is a crypto market maker that builds custom solutions designed to enhance token marketability and improve the stability of tokenomic profiles. It works with exchanges, listed platforms, and initial token offerings.

Alphatheta is comprised of experts in the field of finance, trading and platform analysis, and blockchain technology. It uses proprietary in-house technology to create robust algorithms specifically for cryptocurrency markets. What sets it apart from other trading platforms is that it utilizes deployable bots to simultaneously execute trading strategies across different crypto exchanges. It also offers enhanced bid-ask spreads, which help investors identify the best times to invest and make better investment decisions. Aside from being a crypto market maker, Alphatheta also offers other services for digital assets, such as portfolio management, trading strategies, and asset custody and management.

Pros	Cons
✅Follows AML/KYC policies	❌Doesn’t specify supported integrations
✅Data transparent	❌Quality of proprietary trading strategies will likely depend on the assigned trader
✅Dedicated 24/7 trading desk
✅Global operation
✅Quick integration of solutions to client’s preferred exchanges

8. Bluesky Capital

Bluesky Capital is a crypto market maker and quantitative investment manager. Aside from helping provide liquidity for token projects and investors, it also provides superior risk-adjusted returns through its quantitative investment products, as well as crypto asset management services backed by custom investment and hedging solutions. It deploys a proprietary quantitative research process to analyze historical data to find alpha signals.

It is also a designated market maker (DMM) that helps digital assets stay liquid. As a market maker, it offers various market making programs for:

Token projects – A program designed to help token projects achieve higher liquidity and trading volume, mitigate the risk of price manipulation, facilitate listing on crypto trading platforms, and generate more interest in token projects.
Crypto trading platforms – A program that supports both established and new cryptocurrency exchanges to achieve higher trading volume, mitigate the risk of token price manipulation, and drive interest in the crypto trading platform.

Pros	Cons
✅Simple program implementation for both token projects and crypto trading platforms	❌Investment products may still incur losses
✅24/7 liquidity provision
✅Uses proprietary trading technology

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9. Wintermute

Wintermute is an algorithmic trading firm specializing in digital assets, creating liquid and efficient markets on crypto trading platforms. It’s a cryptocurrency liquidity provider that works with over 50 cryptocurrency markets, including Binance, Coinbase, Uniswap, and Bybit and has a cumulative trading volume of $3006 billion as of March 2023. It’s also backed by top technology and blockchain VC firms like Pantera, Lightspeed, and Avon Ventures. Its liquidity provision for blockchain projects covers CEX, DEX, and MM pools, provides analytics and insight into trading activity, and works with off-exchange blocks. Aside from providing liquidity, Wintermute also tests and uses the client’s products, provides co-building and advising services, and supports OTC and treasury management.

Pros	Cons
✅Has invested in more than 75 projects since 2020	❌Doesn’t trade privacy coins
✅Leverages AI algorithms to identify new market opportunities
✅Trades over 250 tokens
✅No minimum or maximum trading size
✅Registered as a cryptoasset firm by the FCA and requires KYC/AML

10. Algoz

As a liquidity provider, Algoz provides investors, traders, institutions, and crypto projects with custom trading solutions and market making services tailored to fit unique crypto liquidity requirements. It uses proprietary technology and traders specializing in best-in-class trading solutions for all crypto assets based on a market-neutral and multi-strategy trading strategy. It has successfully implemented trading algorithms developed by FinYX across cryptocurrency markets. Moreover, it uses FinYX’s high-frequency infrastructure, which makes use of algorithms developed in-house, to quickly analyze the market and uncover trends.

Pros	Cons
✅ Has predictive capabilities to help determine future pricing outcomes	❌Limited integrations with trading platforms
✅Integrated risk management
✅Uses automated trading tools
✅Provides access to different exchange APIs

11. Acheron Trading

As an advanced crypto market maker, Acheron Trading has over 125 institutional clients and works with more than 50 decentralized and centralized exchanges. It has over a decade of experience when it comes to digital asset transactions and engineers stochastic models and algorithms. Moreover, Acheron trades on all key leading markets (both DEX and CEX), creates liquid trading environments, and uses market data to gather insights.

Aside from its services as a market maker, Acheron also helps traders, investors, and institutions build market strategies and manage risks. Other services include exchange advisory and node operations for public blockchain infrastructures.

Pros	Cons
✅ Expansive coverage for public blockchains, DEX, and CEX	❌Market making services aren’t available to citizens, residents, or entities located, incorporated, or established in Singapore or the US
✅Is a designated market maker (DMM)
✅Dedicated account management with 24/7 support
✅24/7 consistent deep liquidity

12. Jane Street

A research-driven trading firm, Jane Street is a crypto market maker and helps provide liquidity to its clients. It buys and sells digital assets, including ETFs, cryptocurrency, and options. It leverages quantitative analysis and modern technologies like machine learning and programmable hardware to trade in global markets and help maintain consistent and reliable prices. Apart from being a crypto market maker, Jane Street also provides other services, which include liquidity management and pricing.

Pros	Cons
✅ Trades a broad range of asset classes across 200 venues in 45 countries	❌Due to US regulatory scrutiny, it has scaled back its global crypto expansion

13. Fast Forward

Fast Forward is a solid team of award-winning quantitative researchers and talented software engineers involved in high-frequency trading (HFT). The global challenge for the company is to create cutting-edge technology which helps us to trade with the fastest execution speed in a smart way.

Pros	Cons
✅ Close-knit team of 25 people	❌Client doesn’t have access to token metrics
✅ Works on more than 10 exchanges and
✅ Manages more than 500 trading instruments.

14. Amber Group

As a crypto market maker, Amber Group has since generated $500 million worth of returns for its investors and has over $1 trillion in traded volume. Aside from helping provide liquidity to its clients, Amber Group also acts as miners and validators on over 70 cryptocurrency markets. It also has a digital asset platform designed for individuals called WhaleFin, which uses proprietary execution algorithms and is intended to help investors build wealth by helping them access tight spreads and low fees.

Pros	Cons
✅Supports over 150 countries	❌Access to its investing products is subject to regulatory requirements
✅ Works with clients of all sizes
✅ Acts as principal and designated crypto market maker

15. Pulsar Trading Cap

Pulsar is an algorithmic trading firm and crypto market maker. Founded in 2014, it has since grown its extensive global partner network, diversified its asset classes, and implemented secure proprietary technology. Its professional algo traders are skilled in quantitative and high-frequency trading and use automated algorithms to identify new opportunities.

Pros	Cons
✅Has built a relationship with over 60 cryptocurrency markets	❌Lists only a handful of supported crypto platforms
✅Privately funded and doesn’t rely on external investors

Conclusion

Market makers provide liquidity for digital assets by buying and selling them on crypto markets. Doing so creates a two-way market that creates stability and greater efficiency. Furthermore, market makers help the crypto industry thrive by providing an exchange or a token project with growth opportunities while creating new crypto offers. Moreover, working with market makers can equip your project or exchange for growth using proprietary or new technologies while providing you with round-the-clock liquidity and support.

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Crypto can be a complex world to navigate in. Make sure that your digital assets have liquidity so they remain competitive. Mitigate risks and trade at fair market prices. Enjoy unparalleled support and tailor-made liquidity solutions with NinjaPromo.

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FAQ

Some of the biggest crypto market makers include Bluesky Capital, Kairon Labs, Wintermute, and Jane Street.

A market maker primarily provides liquidity to help investors trade quickly and at fair prices.

A crypto market maker can be an individual or organization that buys and sells digital assets using a crypto exchange. They can also be an institutional trader, trading firm, or brokerage.

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