加密貨幣的市場是什麼？

試圖在交易所上交易加密貨幣可能會導致簡單的操作，但要找到合適的市場參與者變得具有挑戰性

In the dynamic realm of cryptocurrency trading, market participants constantly strive to locate suitable market participants at desired prices. However, at times, this endeavor might become challenging, especially during periods of low trading activity. Fortunately, market makers serve as the solution during such market conditions.

在加密貨幣交易的動態領域中，市場參與者不斷努力以所需的價格找到合適的市場參與者。但是，有時，這項工作可能會變得具有挑戰性，尤其是在交易活動低時期。幸運的是，在這種市場條件下，做市商是解決方案。

The cryptocurrency world depends heavily on crypto market making functionality for its successful operations. The market remains active through market-making because it enables quick trading between buyers and sellers at reasonable prices. The cryptocurrency market needs market makers for it to function at an average pace along with maintaining stability and predictability.

加密貨幣世界在很大程度上取決於加密貨幣市場的成功運營功能。市場通過營銷保持活躍，因為它可以以合理的價格在買賣雙方之間進行快速交易。加密貨幣市場需要做市商以平均速度運作，並保持穩定性和可預測性。

What is Market Making in Crypto?

加密貨幣的市場是什麼？

Market making refers to the operation that delivers marketplace liquidity through continuous trades between buying and selling assets. As part of their activity in cryptocurrency, market makers establish buy and sell orders through exchange platforms to sustain trading volume across all time periods.

市場製造是指通過買賣資產之間的持續交易提供市場流動性的運營。作為加密貨幣活動的一部分，做市商通過交換平台建立買賣訂單，以在所有時間段內維持交易量。

You need another market participant to accept your crypto trades because you placed purchase or sale orders. The market maker facilitates continuous trading by being present to purchase assets and sell assets thus boosting market liquidity and activity.

您需要另一個市場參與者來接受您的加密交易，因為您下了購買或銷售訂單。做市商通過出席購買資產和出售資產，從而促進市場流動性和活動來促進持續交易。

Example:

例子：

How Market Makers Work

做市商的工作方式

Market makers perform essential functions for maintaining crypto market making through the following two distinct ordering strategies:

做市商通過以下兩種不同的訂購策略來維持加密貨幣市場的基本功能：

Buy Orders (Bids): Market makers set their cryptocurrency purchasing cost through buy orders. If a market maker issues a Bitcoin purchase order at $60,000 then they confirm their readiness to purchase Bitcoin at that specific price.

買入訂單（投標）：做市商通過買入訂單設定了加密貨幣購買成本。如果做市商以60,000美元的價格發布比特幣採購訂單，則他們確認自己準備以該特定價格購買比特幣。

Sell Orders (Asks): The active rate at which market dealers want to sell their digital currency forms a sell order. When the market maker sets the Bitcoin sell order price at $60,100 they indicate their willingness to trade the cryptocurrency.

賣出訂單（詢問）：市場經銷商希望出售其數字貨幣的積極利率形成賣出訂單。當做市商將比特幣銷售訂單價格定為60,100美元時，他們表示願意交易加密貨幣。

Market makers establish a continuous market by purchasing from others while selling to new parties which facilitates quicker and smoother trades between willing parties.

做市商通過向他人購買，同時向新政黨銷售，從而建立一個連續的市場，從而促進自願聚會之間的更快和更平滑的交易。

A market maker’s profit comes from the price difference between what they charge buyers and what they pay sellers. This difference is known as the spread. Market makers generate their profits through this pricing mechanism:

做市商的利潤來自他們收取買家的價格差異與賣方的價格差異。這種差異稱為傳播。做市商通過這種定價機制產生利潤：

When the market maker enters buy and sell orders set at $60,000 and $60,100 they obtain a total profit of $100 after executing both transactions.

當做市商輸入以60,000美元和60,100美元的價格進入買賣訂單時，他們在執行兩筆交易後獲得了100美元的總利潤。

The profits of individual transactions remain modest but market makers process substantial amounts of trades daily to gain considerable overall profits.

單個交易的利潤仍然適度，但做市商每天處理大量交易，以獲取可觀的總體利潤。

Through their adjustment of buy and sell order prices market makers maintain market stability based on current conditions.

通過調整買賣訂單價格，做市商根據當前條件保持市場穩定性。

For example:

例如：

The market maker adjusts their position by elevating the buy order price to $60,400 and simultaneously increasing the sell order price to $60,600 when the Bitcoin price reaches $60,500.

做市商通過將買單價格提高到60,400美元，並同時將賣出訂單價格提高到60,600美元，當時比特幣價格達到60,500美元。

The continuous price adjustments from market makers produce stabilized market conditions that create predictable and less dramatic market patterns.

做市商的持續價格調整產生穩定的市場狀況，從而產生可預測且較少的市場方式。

The company CLS Global along with other professionals makes use of sophisticated trading algorithms and instantaneous market data to optimize their order handling systems. Through their market-making activities, they maintain sufficient liquidity which allows buyers and sellers to quickly complete trades without significant price variations.

公司CLS Global與其他專業人員一起利用複雜的交易算法和瞬時市場數據來優化其訂單處理系統。通過他們的營銷活動，他們保持了足夠的流動性，使買賣雙方可以快速完成交易而沒有大幅價格變化。

The market stability would decrease if market makers were absent since traders could not locate willing partners to execute fair-price deals. The operation of continuous buy and sell orders by market makers establishes a steady and engaged trading platform that helps internal traders as well as major crypto initiatives.

如果缺席做市商，則市場穩定性將降低，因為交易者無法找到願意的合作夥伴執行公平價格交易。做市商的連續買賣訂單的運營建立了一個穩定而參與的交易平台，可幫助內部交易者以及主要的加密計劃。

How It Works in Action:

它如何在行動中起作用：

The price to execute a Bitcoin purchase stands at $60,000 while the price for a sale stands at $60,100. Buyers who transact at $60,100 obtain their profit because of the spread difference between buy and sell prices. New market conditions cause adjustments to the buy and sell orders according to price changes. The ongoing purchasing and selling activities support market stability by facilitating both trading entry and exit for other market participants.

執行比特幣購買的價格為60,000美元，銷售價格為60,100美元。以60,100美元的價格進行交易的買家，由於買賣價格之間的差異，因此獲得了利潤。新的市場條件會根據價格變化對買賣進行調整。正在進行的採購和銷售活動通過促進其他市場參與者的交易進入和退出來支持市場穩定。

Why Market Making is Important for Crypto Markets

為什麼市場製造對於加密市場很重要

The crypto market demonstrates extreme price fluctuations which create major market volatility during brief periods. Market makers perform a critical function that stabilizes market volatility in order to support smooth trading procedures.

加密市場表現出極端的價格波動，這在短時間內會導致主要市場波動。做市商執行關鍵功能，以穩定市場波動，以支持平穩的交易程序。

1. Improves Liquidity

1。提高流動性

The ease of trading an asset determines its liquidity since market participants need to buy or sell it without price fluctuations. Through continuous placement of both buy and sell orders market makers act as liquidity providers thus making sure every trade has a matching counterparty.

交易資產的便利性決定了其流動性，因為市場參與者需要購買或出售它而不會產生價格的波動。通過連續放置買賣訂單，做市商作為流動性提供者，從而確保每個貿易都有匹配的對手。

2. Reduces Price Gaps

2。減少價格差距

The presence of market makers prevents the market from developing an extensive price gap that exists between top buy orders and bottom sell orders. Through their activities market makers minimize price gaps which makes market rates more predictable.

做市商的存在阻止市場產生巨大的價格差距，而這種差距和最低銷售訂單之間存在。通過他們的活動，做市商最大程度地減少了價格差距，從而使市場價格更具可預測性。

3. Encourages Trading Activity

3。鼓勵交易活動

Market participants will increase trading activity if they observe strong market liquidity which in turn drives overall market growth.

如果市場參與者觀察到強勁的市場流動性，他們將增加交易活動，從而推動總體市場增長。

4. Minimizes Slippage

4。最小化滑移

The actual trade execution price deviates from the predicted price point during slippage occurrences. Market makers decrease slippage through their operation of maintaining multiple orders at distinct price levels so trades can receive more precise fillings.

實際的貿易執行價格偏離了滑倒事件中預測的價格點。做市商通過將多個訂單保持在不同的價格水平的操作來減少滑倒，因此交易可以收到更精確的填充物。

5. Enhances Market Efficiency

5。提高市場效率

Market makers actively discover prices through their continuous updating system of both buying and selling orders based on existing market conditions. Prices show genuine asset value

做市商通過基於現有市場條件的持續更新系統的持續更新系統來積極發現價格。價格顯示真正的資產價值