Narrative and market maker, which one is more important?

Actually, it doesn't matter.

The important thing is attention; trading, and narrative are all for attention. Core communication nodes are also for attention, and the new mechanisms are also for attention.

You have to say that market makers are important, as there are many abandoned orders.

You want to say that narrative is important, but I see that even Web3 philosophers hardly mention narrative dynamics anymore; the narrative has lost its drive.

Narrative is a philosophical nature of substance, and there is no sufficient necessary condition between it and market making. A good narrative does not necessarily lead to a rise, but a bad narrative makes market making much more difficult.

Market maker is a practical essence; if there is a market maker, it must pull up a bit, but if no one follows after pulling up, it can only crash. A good market maker will choose a good narrative to mutually achieve success, such as global trends like $LABUBU, or meme spirit leaders like $USELESS (returning to the meme itself), or youth characteristics like $HOUSE and $NEET.

Among these influencing factors, seeking targets that embody "the timing aligns the heavens and the earth to work together" or becoming a part of the narrative dynamics in a bull market is what we hope to achieve.

The debate between name and reality is not fundamentally important; they always influence and transform each other. What matters is to analyze and find a rationale for the market maker, and to seek a driving force for the narrative.