The fake volume is a curse and we need to get rid of that to have some transparency and a fair evaluation of things for the people who invest money. Most or all of these exchanges are not regulated and there is a plenty of competition in the exchange market and all the exchanges are trying to get an upper edge to attract more customers and with no regulatory board overlooking all these, they could fake these volumes but coingecko has taken a good initiative and hopefully they will not take money and fake the volume themselves as i am sure these exchanges will be ready to pay huge amounts to show these fake volumes too .