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.
Coinmarketcap should really take this seriously. Its a pathetic sight when you log into to view rankings and you see dobitrade, coinbene, HotBit and Bilaxy as top 50 exchanges, sometimes top 20. It's ridiculous and I now rather use coingecko where I can get a more sensible result on exchange trade rankings
They should, it's their responsibility to provide correct figures to the people, maybe they just don't want to make things complicated on their part and they don't do much verification on their part.
I'll try coingecko, I accessed it every once in a while but I still use coinmarketcap most of the time, I'll try to explore it more.
Thanks for sharing this.
