...I assume it must have been a liquidity problem as tvplus006 suggested.... Does this mean it would not have happened if I'd have been trading a bigger coin such as BTC or ETH (due to higher liquidity)? And if that's the case I assume that means Bybit has higher liquidity when trading smaller coins/tokens as this never happened to me when I traded on Bybit? Or, was this just simply 2 very rare occasions when the market dropped alarmingly quickly and I was just extremely unlucky?
Of course, the trading volume and, consequently, the liquidity is higher on Bybit, and this is confirmed by the Coinmarketcap rating data -
https://coinmarketcap.com/rankings/exchanges/derivatives/ But nevertheless, at the moment no exchange can compare with the Binance exchange, which I would recommend for trading.