Many people see from the BITGET's VOXEL/USDT event that the market maker is BG itself, believing that BG is betting against its customers.

In fact, this is quite normal; all exchanges have liquidity-providing market-making bots. If all transactions were matched by customers themselves, then the candlestick charts would be unreadable.

Market makers are supposed to fill the gaps between the best ask and best bid, while using small orders to maintain depth, ensuring that you can buy when you want to buy and sell when you want to sell. In large-cap cryptocurrencies or major exchanges with good liquidity, the risks for market makers are low because the amounts of customers going long and short are generally balanced at the same time. The market-making bots merely make the 1-minute candlestick charts look continuous and appealing. If there is a one-sided trading situation among customers, the exchange can also offload positions to other exchanges.

However, if it is a small exchange, especially one that only lists a single coin (meaning it is only available on one exchange), the risks increase significantly. Essentially, it becomes a situation where the market maker or the exchange is betting against the customers. In extreme cases, all customers may go long or short, and the exchange or market maker may not be able to offload positions to other exchanges, forcing them to bet against the customers. In lighter cases, they may forcibly reduce the positions of profitable customers, and in worse cases, they could incur massive losses.

Therefore, when someone claims to have made tens of millions or even over a hundred million on several second-tier exchanges, that is just a script—consider it entertainment, and just listen to it!

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