Duh... Any exchange can pretend it's a large reputable player by showing fake volume, it has nothing to do with blockchains. Further, any with a substantial am

Duh... Any exchange can pretend it's a large reputable player by showing fake volume, it has nothing to do with blockchains. Further, any with a substantial amount of bitcoin, e.g. $1m, who might gain from their assets having a reputation as a means to transfer money, can create $1b in daily volume at the cost of $1 per year on the blockchain, fully automated. The expectation that nobody on the planet will do this is obviously zero. So you naturally get fake volume. I'd be surprised if it wasn't >90%.