Top 500 is still too wide and in my opinion not all of them are good to invest, also there are a lot of project are using fake volume to get more investors. I think, coinmarketcap rank can't be a good factor to invest in projects.
Thanks you for pointing that out. Many people think that because a project is in top 100 or whatever coinmarketcap that guarantees the project to be a good one. No.. So many things are happening in the space. Just like you pointed out also, many projects now use fake volumes to lure investors. Its always good to make indepth research before investing on any project no matter the position in the coinmarketcap.