Do you agree with this idea? Example: X coin has 100M max supply and there are 50M supply circulating on it's network. They sell 50M+ coins year by year to people who wants to buy it. Imagine a bank gives credit (more money than the bank has) to costumers.
Exchanges don't sell the coins, only the holders doing it who bought it at presale or mined it. So the exchange is just a platform where buyers and sellers meet and make their trader orders when it matches the trade will be executed. But centralized projects can mint new coins and tokens from no where then inject it into the market that is why we need to invest on decentralized projects.