Lets give an example for Electronium. They advertised that Electronium is tradable on Altex exchange. They must have enough knowledge to know scam exchanges. Right ?
I'm not sure what initial research they perform on exchanges they plan to have their coin listed on, but I don't think they are interested in that at all.
Their main goal is to have as many smaller exchanges list their coin, build up a community, generate some decent volumes, increase their market cap, and then a larger exchange might pick them up if all the aforementioned looks good enough. That's pretty much your only shot nowadays to be listed on the main exchanges with how they started taking
some responsibility in making sure they don't list blatant trash anymore.
we are talking for a coin with capitalization $159,982,242 USD ... 160 M dollars, this is s little away from shitcoin, but uses shitexchange.
It isn't hard to increase market caps when it comes to coins with large circulating supplies, and it seems that it applies to ETN as well. $0.5 million in volume for a $160 market cap coin is nothing. ETN's all time peak is ~$0.19 where after that it dropped to $0.005 which is a 97% decrease in value (currently hovers around $0.0195). If that isn't a stereo type shitcoin then I don't know what is.