Sadly, we are at a state where AM1 on Havelock currently has by far the highest 24-hour volume (in btc) of any other asset traded on *any* bitcoin-assets exchange today, including OTC, MPEx, Havelock and Bitfunder. It's also about 10 times higher 24-hour volume than any other market that is trading ASICMINER shares.
HL has the highest volume compared to an exchange that doesn't carry AM (MPEx), to an exchange that doesn't let US investors buy (BF), or an exchange that's little better than a scam (796).
So, that's not saying much. You're talking about ~300 shares on a 24
day volume, there's no liquidity there. You can drop the price 15% on HL by selling a dozen shares (or less). There's been a surge since the BF debacle, but how sustainable is that? This week is seeing the highest volume EVER on HL, but I am not betting that it will last.
I would suspect that the majority of people that had shares on BTCT are now holding direct shares, and waiting for a better alternative.
I would hesitate to put much faith in a value based on such thin order books.
While its not super liquid it is a reliable exchange that has been reliable traded upon as long as btct and bitfunder that said you are right it is difficult to get high volume trading going and I do not see it being possible for the mid-term until we see a stabilization from the shock of two exchanges closing the doors to US investors but aside of that mid-level trading can be done with relative ease.
But your right of all the exchanges it is the most traded asset, I do not see that situation changing for a while as all the Labcoin speculators are homeless for now after all