I've some concerns and queries, i observed that many altcoins even some major coins create fake volume, if a project is new and initially listed on a small exchange and create fake volume it's obvious understood that they're trying to get listed on coinmarketcap, but A coin which is existed in everywhere, even big exchanges but still they create fake volume on small exchanges, what this means? Why they do that? Is everything just done by exchanges or project itself, and also that makes a clear difference in prices as compared to official price of market that makes frustrated.
We have this so called P&D (pump and dump) groups. So this group will initially boost the price and it will look like a fake volumes or at least not organic. So obviously they do this to make more money specially from newbies who thought that the coins is having a parabolic run. They buy and when you don't expect the price suddenly goes down on a downward spiral.
Or it could be the project themselves, trying to fake it out that investors are really spewing money making and maybe other investors would join the fun.
If you wanted to know which exchanges are faking their volume, you can read the reports here.
https://www.bti.live/reports-april2019/