Actually hitbtc is 7th exchange by coinmarketcap rating. Nevertheless mgo trading volume($126 ) looks really depressing.
I'm pretty sure there's much fake volume (in general)..
Do you mean this volume is based on incorrect data? If so, I thought about it. But it looks like true. Latest trading volume of eMGO-to-BTC is ~0.028 btc.
https://hitbtc.com/eMGO-to-BTC