100 million liquid Steem is not much at all. Coins have billions in supply, and we are a social network where you actually need the coin to be on the platform. I am on exchanes everyday, there are huge bull walls all the time (might be me, might not be) @acidyo can attest to this. There will be 500k buy walls on the regular accross all the exchanges.
Let me break it down for you. If I wanted to buy 2 million USD worth of Steem, it'd take me a month OR I could go pump the price to 60cents because the sell walls just aren't there.
I could buy 10 million USD worth of bitcoin in about an hour, for ETH it'd take me an hour and for EOS I could get it done by the days end. I can't do that with Steem, and that is a big problem if we ever want lots of big whales speculating on Steem.