Talk about my personal understanding of the price crash of the single currency in the stick country.
The stick exchange does not allow institutional market makers.
Today's news triggered: Sell off—traffic explosion—downtime—collapse.
The core should be that the prohibition of market makers combined with traffic explosion leads to downtime.
However, there are a huge number of retail investors and massive trading volume, with many market makers using personal accounts to make markets.
A few days ago, there was news about a bunch of KYC fakes being investigated. I wonder if many market maker accounts will be eliminated.