What Is Market Maker?

A market maker is an entity that provides liquidity to markets by continuously placing both buy and sell orders, profiting from the spread between them. In crypto, market makers range from algorithmic trading firms to DeFi protocols. Professional market makers move large volumes on-chain that are visible on Sonar Tracker. Their activity patterns differ from directional whale traders: market makers show balanced buy and sell volumes rather than accumulation or distribution patterns. Identifying market maker wallets helps separate noise from genuine directional whale signals.