There are many exchanges that are faking volume. Some reports show that there is up to 90% wrong volume reports. With market developing i am sure there will be more strict rules and penalties.
I think this is the next step in crypto for further development.
There should be some index be issued based on volume to track real volume of top 10 or top 20 exchanges who should be then monitored by some external company.
I hope also CoinMaketCap will take this issue into consideration soon enough to get some real data on smaller exchanges as well.
Yeah, i hope coinmarketcap can know this fake volume on some exchanges. I'm sure some exchanges did kind of this shady things. We, as a trader also need to report it to coinmarketcap, so they can do something about it. Fake volume is a big one though on exchange, so i hope no exchange do this anymore in the future.
It's a hard job for them in knowing whether the volume reported is accurate, the solution I think is if they caught an exchange faking the volume, they need to exclude it on the list. More brutal but sometimes they have to do it the hard way so these exchanges will learn.