Quick answer
The market makers we track across the six exchanges most token projects list on, Binance, Bybit, OKX, MEXC, KuCoin and Gate.io, are EasyMM, Motion Trade, Wintermute, GSR, Keyrock, Flowdesk, DWF Labs, Kairon Labs, Amber Group, Auros and Cumberland (DRW). Which one fits depends far less on the exchange than on your token's stage, its market cap and the deal structure. This is EasyMM's own list, built from each firm's publicly stated coverage, and EasyMM is our own service, so we include ourselves.
Most "best market maker" lists rank firms as though one desk is simply better than another. That is not how the decision works. A desk built to quote a top asset against the deepest books in the industry is the wrong counterparty for a token doing its first listing on MEXC, and the reverse is equally true.
This page follows the way the decision actually gets made: what each venue demands, which firms match that profile, then what to verify before signing. For a ranked comparison of the largest desks, see our crypto market makers ranking. For red flags and fee structures, see how to choose a crypto market maker.
How to Choose: Three Filters That Narrow the Field
1. Stage and market cap. Several of the largest desks have effective minimums, not always published but real. If your token is pre-listing or early small-cap, an institutional-only desk will either decline or quote a price that does not fit your treasury. Match the firm's typical client size to your own first.
2. Pricing model: retainer or token loan. A retainer is a fixed fee for a defined service, and the market maker's incentive is to keep your book healthy. A loan-and-call-option structure means the desk borrows your tokens and profits from an option on your price, which can align with you or put its position against yours. Know which one you are buying; our retainer market maker explainer covers the trade-offs.
3. Whether the desk works the review programs. Binance runs its Monitoring Tag, MEXC runs Assessment Zone and ST Warning, and most Tier 2 venues have an equivalent. Liquidity that is fine at listing and thins out months later is how tokens end up tagged. Ask how a desk monitors that drift and what it does when it sees it, as covered in our delisting warning systems comparison.
Coverage by Exchange
Each venue below asks something slightly different of a market maker. The profile fit lines name the firms on our list whose stated coverage matches that venue at each stage.
Binance
The largest exchange by spot volume, and one that publicly re-reviews listed tokens on a rolling basis through the Monitoring Tag program. A desk here needs the capital and algorithms to hold a competitive book against very tight spreads, plus a process for catching a liquidity dip before it triggers review.
Profile fit: Wintermute, GSR, Cumberland (DRW) and Keyrock for large, established tokens. EasyMM and Motion Trade for growing projects that need hands-on coverage without an institutional minimum.
Bybit
A very large retail user base, with heavy derivatives volume feeding spot liquidity. A desk needs to keep pace with active retail flow while meeting Bybit's own liquidity and volume reviews, described in our Bybit delisting guide.
Profile fit: Wintermute and GSR at scale; DWF Labs where the project also wants investment; Kairon Labs, Motion Trade and EasyMM for mid-cap and smaller engagements.
OKX
A mature futures and options business draws sophisticated flow, which deepens spot books and rewards algorithmic infrastructure built for advanced order flow rather than simple two-sided quoting.
Profile fit: Keyrock and Wintermute on the quantitative side, Amber Group where OTC and treasury services matter alongside quoting, EasyMM for stage-appropriate coverage.
MEXC
A common first listing for early-stage tokens, with a fast listing process and a very large long-tail catalog. It also runs one of the most active review programs of any venue, tagging large batches of tokens under ST Warning month after month, so liquidity support cannot stop the day a token lists. Our MEXC ST Warning tracker shows the recent cadence.
Profile fit: EasyMM, Motion Trade, Kairon Labs and DWF Labs take on engagements at this stage. Most institutional desks will not.
KuCoin
A retail-heavy global user base with one of the deepest altcoin catalogs among Tier 2 venues. A desk needs to hold a tight book across smaller-cap tokens that a Tier 1-only firm would decline.
Profile fit: Kairon Labs, Motion Trade and EasyMM for breadth at small and mid cap; Keyrock and Auros where algorithmic precision is the priority.
Gate.io
One of the largest token catalogs in the industry, with a launchpad-style listing flow that brings in early-stage projects. A desk needs to onboard fast and hold liquidity steady through the volatile first weeks after launch.
Profile fit: EasyMM, Motion Trade, Kairon Labs and DWF Labs for launch-stage work; Flowdesk and Amber Group for projects that need a regulated or multi-service counterparty.
The Firms
Short profiles of each firm, based on what they publicly say about their coverage and focus. Treat them as a starting point for your own diligence.
EasyMM
Full-lifecycle CEX market making, from pre-listing preparation and launch execution to ongoing liquidity monitoring, so a token does not drift into a review zone after it lists. EasyMM runs AI-driven execution with 95% uptime and 24/7 monitoring and works with 200+ long-term clients. Best for growing projects that need a hands-on partner without a very large market cap.
Wintermute
One of the largest crypto market makers by trading scale, active across many centralized and decentralized venues, and expanding into newer areas such as prediction markets. Built for large, established tokens rather than early-stage listings.
GSR
A long-established firm founded by former Goldman Sachs traders, combining market making with OTC trading and expanding into token design and listing support. Serves institutional and large-cap clients primarily.
Keyrock
A Belgium-headquartered, delta-neutral, fully algorithmic desk across a wide range of centralized and decentralized venues. Strong on quantitative precision and EU regulatory alignment, less built for high-touch early-stage support.
Flowdesk
A Paris-based firm registered with France's markets regulator as a digital asset service provider, running proprietary infrastructure connected to a large number of exchanges and expanding into OTC and credit. Built for projects that need a compliant European counterparty.
DWF Labs
Pairs market making with direct token investment, trading spot and derivatives across many exchanges for a large portfolio of projects. Useful for projects that want capital and liquidity from one counterparty. Be clear on how the two mandates are priced and governed, since the same firm is both your liquidity provider and a holder of your token.
Kairon Labs
An Antwerp-based firm running customized algorithmic strategies for a large number of token issuers across many venues. Known for breadth across exchanges rather than deep, concentrated support on a handful of Tier 1 venues.
Motion Trade
A centralized-exchange market-making and OTC desk acting as a designated market maker on many venues, covering pre-TGE preparation through post-listing execution, with both retainer and profit-sharing models.
Amber Group
An institutional digital-asset services group whose market making sits alongside OTC, margin and asset management across CeFi and DeFi venues. Positions itself as a broad financial services provider rather than a pure liquidity specialist.
Auros
An algorithmic and derivatives-focused desk running strategic and high-frequency market making. It went through a restructuring after the FTX collapse, which is worth knowing when you assess counterparty history.
Cumberland (DRW)
The digital-asset arm of Chicago trading firm DRW, running an OTC voice and API model built around institutional counterparties, funds and banks. Fits large block flow rather than early-stage onboarding.
Where EasyMM Fits
EasyMM provides market making on centralized exchanges, including all six covered on this page. The work is order-book side: holding spread, depth and consistent volume on the CEX pair so a token stays clear of the thresholds that trigger Monitoring Tag, ST Warning and their equivalents. For tokens already flagged, Delisting Help covers recovery, and Pre-TGE support covers the work before launch.
EasyMM does not provide AMM, DEX or on-chain liquidity services. Several firms on this list cover decentralized venues; we do not.
Conclusion
Crypto market makers by exchange is less a map of who sits where than a question of fit: your token's stage, the deal structure and whether a desk actively works each venue's review program. Large institutional desks dominate Tier 1 books for big tokens, while a smaller group regularly takes on Tier 2 and early-stage work. Shortlist by stage first, then check pricing, reporting and review monitoring before you sign.
Listing on any of these exchanges and want a market maker who takes on growing projects? Book a strategy session with EasyMM and get a liquidity plan built for your token's actual stage.
Frequently Asked Questions
Who are the main market makers on Binance, Bybit, OKX, MEXC, KuCoin and Gate.io?
The firms we track across these venues are EasyMM, Motion Trade, Wintermute, GSR, Keyrock, Flowdesk, DWF Labs, Kairon Labs, Amber Group, Auros and Cumberland (DRW). The largest desks concentrate on Tier 1 venues and large-cap tokens, while Kairon Labs, DWF Labs, Motion Trade and EasyMM regularly take on Tier 2 and early-stage work.
Does an exchange require a market maker to list?
Most do not require one at listing. But thin liquidity in the weeks after a listing is one of the most common reasons a token trades poorly or draws review attention, so lining up coverage before launch closes that gap.
Is a retainer better than a token loan deal?
They are different trades. A retainer is a fixed cost for a defined service, with the desk's incentive tied to your book's health. A loan-and-option structure usually has no cash fee, but the desk holds your tokens and profits from an option on your price, so price that option before you agree to it.
What should a small-cap project look for?
A firm that takes engagements without a large market cap requirement, a fee structure that keeps incentives aligned, frequent reporting and an explicit process for monitoring liquidity against each exchange's review rules.
Can a market maker stop a delisting or an ST tag?
Rarely once the tag is applied, because the window before delisting is usually too short to change the metrics a reviewer looks at. Market making works best as prevention, keeping spread, depth and volume healthy in the months before a review.
Which market maker is best for a pre-TGE token?
Pre-TGE is a different engagement from post-listing coverage, with different deliverables and pricing. See our breakdown of pre-TGE market makers.
