2026-01-15 09:37:20

I recently watched an in-depth discussion on Crypto, market makers, finance, and AI, and the insights from several industry veterans are indeed worth noting. After listening to the entire discussion, I summarized the key points for sharing.

From the current market situation, participants in cryptocurrency applications can be roughly divided into three factions. This classification framework is very insightful for understanding the entire industry ecosystem—different participants, due to their backgrounds, goals, and strategies, have vastly different understandings and approaches to Crypto.

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APY追逐者

· 9h ago

Bro, these three faction classifications still feel like old news to me. The ones truly making money have long surpassed this framework. Is there any substance to the market maker part, or are they just fooling new investors again? Three factions? I only see two types of people: those making money and those losing money. I've seen this kind of dialogue many times; the key is the actionable insights that follow. Honestly, I'm curious about the core logic you've outlined, otherwise it's just vague talk. Recently, there have been too many discussions like this, and none of them have reached the practical operational level.

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TopBuyerBottomSeller

· 9h ago

I've heard the same rhetoric from the three factions too many times. Let's stick to those old clichés. When will the market makers finally make the secondary market look decent? In-depth conversations with veterans? Most of the time, it's just an excuse to harvest retail investors. This kind of classification framework is interesting, but I don't know what practical guidance it can provide. It's just institutions, retail investors, and project teams. Why make it so complicated?

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DeFiDoctor

· 9h ago

The three-faction framework sounds good, but what really matters is whether the liquidity indicators can stand the test—these participants' strategic complexities are often hidden in the details. It is recommended to regularly review the symptoms of fund outflows from each faction.

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SchrodingerGas

· 9h ago

This three-faction classification sounds quite academic, but can on-chain data support it? Or is it just creating buzz around arbitrage topics, after all, there are a bunch of market maker papers, but few with real money following along.

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