Said yet another way, narrow liquidity windows, a la v3, are just buy/sell orders. And wide liquidity windows are just (roughly speaking) integrals of narrow liquidity windows. So even a wide v3 liquidity position is just a progressive buy/sell order.

On a volatile asset, that is fundamentally a trading strategy, not a market making strategy. On paper, it isn't a crazy strategy if you have certain highly specific beliefs about the price trajectory of the asset. But in practice, it's not a good strategy.

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