I didn't intend to offend anyone, Cardano just came to mind first so I used it as an example. Never said such an event could and would happen.
Talking about WallStreet, if 10% of all the Shares of any Company are sold into the market at once (same hour), you will probably see the price crash more than 50%, it will be a bloodbath for that corporation.
And what would happen if someone sold 10% of all Bitcoin in existence? Or 10% of the total supply of Cardano for that matter?
There is no doubt that everything is in a bubble but expecting the crypto market to be more liquid than tradfi markets is a far stretch IMO. Just look at what happened on Binance US today.
And that was just one large sale. Imagine panic mode on a large scale...
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Looks rather like one large fake news bar, am I right?
It was one large sale that filled the whole order book all the way down to $8k per BTC. Just goes to show how deep BTC liquidity really is.
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But only on Binance right? How convenient for them, I bet a lot of people have been long with high leverages.