How Do Market Makers Differ from Pump-and-Dump Organizers in Their Influence on Asset Price?

Market makers provide liquidity by simultaneously offering to buy and sell an asset, profiting from the bid-ask spread. Their goal is to maintain an orderly, efficient market and smooth out price volatility.

Pump-and-dump organizers, conversely, intentionally create extreme price volatility and inefficiency to profit from a massive, sudden price spike and subsequent crash. Market makers aim for stability, while pump-and-dump organizers aim for destabilization.