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.
Well there are those organizations who reported fake volumes. But as much as it's a fraudulent practice, who are going to stop them? There are no regulatory bodies to begin with?
And as far as CoinMarketCap? They are business entity so I doubt that they will take that into consideration. They even promoted ponzi scheme ads in their website, people called them but they didn't do anything because they are in the business of making money.