Wash trading is crazy in crypto. Literally everyone does it(but us apparently). I was listening to a call with some doge "whales" a year ago or so where they were openly talking about it. They called it "pumping the volume" and said it was a form of marketing to keep it high up in the ranks. They said paying for marketing was more expensive than potential losses taken "pumping the volume". None of them equated that with wash trading, and it was in a public call. I was blown away. Also, analytics show a lot of evidence of wash trading, up to 90% of the volume on some offshore exchanges.
I've seen exchanges with 100 % washtrading volume in the past and they gone to zero in the end. Call it a conspiracy theory but it wouldn't surprise me if all top 10 coins are there only thanks to washtrading and someone who controls all of this just wants to confuse us so we invest our money in the wrong coins and get fucked
Personally I find all coins above 3 billion market cap overvalued.
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From @erg35